Olaplex (NASDAQ:OLPX) Given "Market Perform" Rating at Telsey Advisory Group

Key Points

• Telsey Advisory Group has reissued a "market perform" rating for Olaplex (NASDAQ: OLPX), setting a target price of $2.00, indicating a potential upside of 43.88% from the current stock price.
• Olaplex's latest earnings report revealed a revenue of $96.98 million, which surpassed analyst expectations, yet the company reported $0.00 EPS, missing estimates by $0.02.
• Institutional investors collectively own 87.37% of Olaplex stock, with significant recent acquisitions, indicating strong institutional interest in the company.

Olaplex (NASDAQ:OLPX - Get Free Report)'s stock had its "market perform" rating reissued by Telsey Advisory Group in a research note issued on Friday,Benzinga reports. They currently have a $2.00 target price on the stock. Telsey Advisory Group's target price would suggest a potential upside of 43.88% from the stock's current price.

Several other brokerages also recently weighed in on OLPX. Wall Street Zen upgraded Olaplex from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Barclays upped their price target on Olaplex from $1.40 to $1.50 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $1.88.

Olaplex Price Performance

OLPX stock opened at $1.39 on Friday. The business's fifty day moving average price is $1.42 and its 200 day moving average price is $1.39. The company has a current ratio of 10.74, a quick ratio of 9.53 and a debt-to-equity ratio of 0.73. Olaplex has a 12-month low of $1.01 and a 12-month high of $2.77. The company has a market capitalization of $925.41 million, a PE ratio of 69.53 and a beta of 2.33.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.02). Olaplex had a return on equity of 6.36% and a net margin of 2.91%. The company had revenue of $96.98 million for the quarter, compared to analysts' expectations of $93.82 million. During the same quarter last year, the company earned $0.03 EPS. Olaplex's revenue for the quarter was down 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Olaplex will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Olaplex in the 2nd quarter valued at about $25,000. TD Asset Management Inc boosted its position in shares of Olaplex by 14.8% in the 2nd quarter. TD Asset Management Inc now owns 779,630 shares of the company's stock valued at $1,091,000 after purchasing an additional 100,688 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Olaplex by 166.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 59,016 shares of the company's stock valued at $83,000 after purchasing an additional 36,887 shares during the period. Ninety One UK Ltd boosted its position in shares of Olaplex by 18.5% in the 2nd quarter. Ninety One UK Ltd now owns 3,333,055 shares of the company's stock valued at $4,666,000 after purchasing an additional 520,011 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Olaplex by 151.8% in the 1st quarter. Jane Street Group LLC now owns 88,321 shares of the company's stock valued at $112,000 after purchasing an additional 258,873 shares during the period. 87.37% of the stock is owned by institutional investors and hedge funds.

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.

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