Olaplex Holdings, Inc. (NASDAQ:OLPX) Receives $7.66 Consensus PT from Analysts

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX – Get Rating) have received an average recommendation of “Hold” from the fifteen research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $7.66.

OLPX has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Olaplex from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Tuesday, March 7th. Piper Sandler decreased their target price on shares of Olaplex from $5.00 to $4.00 in a research report on Thursday, March 16th. Bank of America decreased their target price on shares of Olaplex from $4.00 to $3.25 in a research report on Wednesday, May 10th. TD Cowen cut shares of Olaplex from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $10.00 to $4.50 in a research report on Thursday, March 16th. Finally, The Goldman Sachs Group cut shares of Olaplex from a “buy” rating to a “neutral” rating and set a $6.00 target price for the company. in a research report on Tuesday, February 28th.

Olaplex Stock Performance

Shares of OLPX stock opened at $3.24 on Tuesday. Olaplex has a 12 month low of $3.19 and a 12 month high of $18.23. The company has a debt-to-equity ratio of 0.81, a current ratio of 9.68 and a quick ratio of 7.41. The firm has a market capitalization of $2.12 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.24 and a beta of 1.55. The company’s fifty day moving average price is $3.81 and its two-hundred day moving average price is $4.93.

Olaplex (NASDAQ:OLPX – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Olaplex had a net margin of 32.14% and a return on equity of 33.05%. The business had revenue of $113.79 million for the quarter, compared to analyst estimates of $110.19 million. During the same quarter in the prior year, the business posted $0.13 EPS. The company’s revenue for the quarter was down 38.9% on a year-over-year basis. On average, research analysts anticipate that Olaplex will post 0.26 earnings per share for the current fiscal year.

Institutional Trading of Olaplex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of Olaplex by 13,198.8% in the 1st quarter. JPMorgan Chase & Co. now owns 227,276 shares of the company’s stock valued at $3,551,000 after acquiring an additional 225,567 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Olaplex in the 1st quarter valued at approximately $158,000. Citigroup Inc. lifted its position in shares of Olaplex by 179.3% in the 1st quarter. Citigroup Inc. now owns 43,136 shares of the company’s stock valued at $674,000 after acquiring an additional 27,690 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Olaplex in the 1st quarter valued at approximately $36,000. Finally, Rhumbline Advisers increased its stake in Olaplex by 2.4% in the 1st quarter. Rhumbline Advisers now owns 62,830 shares of the company’s stock valued at $982,000 after buying an additional 1,456 shares during the period. 91.50% of the stock is owned by institutional investors and hedge funds.

About Olaplex

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Olaplex Holdings, Inc manufactures and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair. It provides hair care products to professional hair salons, retailers, and everyday consumers. The company was founded in 2014 and is based in Santa Barbara, California.