Canaccord Genuity Group Cuts Olaplex (NASDAQ:OLPX) Price Target to $1.50

Olaplex (NASDAQ:OLPX) had its price objective lowered by Canaccord Genuity Group from $2.00 to $1.50 in a research note published on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

OLPX has been the topic of several other reports. Wall Street Zen upgraded shares of Olaplex from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Barclays increased their target price on shares of Olaplex from $1.40 to $1.50 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $2.00 target price on shares of Olaplex in a research report on Thursday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1.75.

Olaplex Trading Down 9.8%

Shares of OLPX stock opened at $1.29 on Friday. The firm has a market cap of $860.53 million, a P/E ratio of 64.50 and a beta of 2.33. Olaplex has a 1-year low of $1.01 and a 1-year high of $2.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 10.74 and a quick ratio of 9.53. The firm’s 50-day simple moving average is $1.43 and its 200-day simple moving average is $1.38.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $106.28 million for the quarter, compared to analysts’ expectations of $100.30 million. Olaplex had a positive return on equity of 3.32% and a negative net margin of 0.30%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. As a group, equities analysts forecast that Olaplex will post 0.1 EPS for the current year.

Institutional Trading of Olaplex

Institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in Olaplex in the second quarter valued at approximately $25,000. Teacher Retirement System of Texas acquired a new stake in Olaplex in the first quarter valued at approximately $25,000. Hsbc Holdings PLC acquired a new stake in Olaplex in the fourth quarter valued at approximately $34,000. BNP Paribas Financial Markets acquired a new stake in Olaplex in the fourth quarter valued at approximately $35,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Olaplex in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.