Telsey Advisory Group Reiterates Market Perform Rating for Olaplex (NASDAQ:OLPX)

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating reiterated by research analysts at Telsey Advisory Group in a report released on Monday,Benzinga reports. They currently have a $2.00 price target on the stock. Telsey Advisory Group’s price target points to a potential upside of 33.33% from the company’s previous close.

A number of other research firms have also commented on OLPX. Northland Securities began coverage on Olaplex in a research note on Thursday, November 20th. They issued an “outperform” rating and a $2.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Olaplex in a report on Wednesday, January 14th. They set a “hold” rating and a $1.50 price target for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a research note on Thursday, January 22nd. Barclays set a $1.75 price objective on shares of Olaplex in a research report on Friday, January 16th. Finally, Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Olaplex currently has an average rating of “Hold” and a consensus target price of $1.85.

Olaplex Stock Down 1.3%

Shares of OLPX opened at $1.50 on Monday. The stock’s 50-day moving average price is $1.54 and its two-hundred day moving average price is $1.36. Olaplex has a 12 month low of $0.99 and a 12 month high of $1.84. The company has a market capitalization of $1.00 billion, a PE ratio of 76.00 and a beta of 2.24. The company has a current ratio of 4.16, a quick ratio of 3.52 and a debt-to-equity ratio of 0.40.

Hedge Funds Weigh In On Olaplex

Institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in shares of Olaplex during the 4th quarter worth about $25,000. Abel Hall LLC acquired a new stake in Olaplex in the fourth quarter valued at approximately $27,000. Chilton Capital Management LLC acquired a new stake in Olaplex in the third quarter valued at approximately $26,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Olaplex during the third quarter valued at approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Olaplex during the third quarter worth approximately $32,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

Olaplex Company Profile

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.