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

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 reaffirmed by analysts at Telsey Advisory Group in a note issued to investors on Friday,Benzinga reports. They currently have a $2.00 target price on the stock. Telsey Advisory Group's price objective suggests a potential upside of 40.35% from the company's previous close.

A number of other research analysts have also weighed in on OLPX. Barclays increased their price target on Olaplex from $1.40 to $1.50 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Wall Street Zen raised Olaplex from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $1.88.

Olaplex Price Performance

Shares of OLPX traded up $0.04 on Friday, reaching $1.43. The stock had a trading volume of 916,178 shares, compared to its average volume of 1,379,254. The firm has a market capitalization of $948.70 million, a PE ratio of 71.29 and a beta of 2.33. The company has a quick ratio of 9.53, a current ratio of 10.74 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average of $1.43 and a 200 day moving average of $1.39. Olaplex has a twelve month low of $1.01 and a twelve month high of $2.77.

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

Institutional Inflows and Outflows

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

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.