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

Telsey Advisory Group reaffirmed their market perform rating on shares of Olaplex (NASDAQ:OLPX - Free Report) in a research report released on Thursday, Benzinga reports. Telsey Advisory Group currently has a $2.00 price target on the stock.

Several other equities analysts have also commented on the company. Truist Financial lowered their target price on Olaplex from $7.00 to $3.00 and set a buy rating for the company in a report on Monday, March 4th. Piper Sandler upgraded Olaplex from an underweight rating to a neutral rating and increased their price objective for the company from $1.25 to $2.00 in a research report on Tuesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $2.59.

Olaplex Price Performance

OLPX stock traded up $0.24 during midday trading on Thursday, hitting $1.64. 4,001,363 shares of the stock were exchanged, compared to its average volume of 2,073,792. The stock's 50-day moving average price is $1.68 and its 200-day moving average price is $1.96. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 18.56 and a beta of 2.34. Olaplex has a fifty-two week low of $1.19 and a fifty-two week high of $4.27. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.03 EPS for the quarter, hitting analysts' consensus estimates of $0.03. The company had revenue of $111.72 million for the quarter, compared to analysts' expectations of $108.29 million. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The firm's quarterly revenue was down 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Research analysts predict that Olaplex will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Olaplex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC lifted its position in Olaplex by 2,108.4% during the 4th quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company's stock worth $26,000 after buying an additional 9,593 shares in the last quarter. Quent Capital LLC raised its holdings in shares of Olaplex by 2,463.8% in the 4th quarter. Quent Capital LLC now owns 11,178 shares of the company's stock valued at $28,000 after purchasing an additional 10,742 shares during the period. HB Wealth Management LLC bought a new position in Olaplex in the 4th quarter valued at about $35,000. M&T Bank Corp bought a new position in Olaplex in the 3rd quarter valued at about $36,000. Finally, Waldron Private Wealth LLC raised its holdings in Olaplex by 62.0% in the 4th quarter. Waldron Private Wealth LLC now owns 16,227 shares of the company's stock valued at $41,000 after acquiring an additional 6,213 shares during the period. 87.37% of the stock is owned by institutional investors and hedge funds.

Olaplex Company Profile

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.