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) with a price target of $2.00, indicating a potential upside of 40.35% from its current price.
• The company's stock recently traded at $1.43, with a 12-month low of $1.01 and a high of $2.77, showing volatile trading activity.
• Institutional investors hold a significant 87.37% of Olaplex's stock, with notable increases in positions from major funds like T. Rowe Price and Renaissance Technologies.

Olaplex (NASDAQ:OLPX - Get Free Report)'s stock had its "market perform" rating reissued by equities research analysts at Telsey Advisory Group in a report issued on Thursday,Benzinga reports. They currently have a $2.00 price target on the stock. Telsey Advisory Group's price objective points to a potential upside of 40.35% from the stock's current price.

Other equities analysts have also issued research reports about the company. Barclays raised 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. Wall Street Zen upgraded Olaplex from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $1.88.

Olaplex Stock Up 1.1%

Shares of OLPX stock traded up $0.02 on Thursday, hitting $1.43. The stock had a trading volume of 1,034,513 shares, compared to its average volume of 1,377,349. The stock has a market cap of $948.71 million, a price-to-earnings ratio of 71.29 and a beta of 2.33. 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 business has a 50 day moving average of $1.43 and a 200 day moving average of $1.39. Olaplex has a 12-month low of $1.01 and a 12-month high of $2.77.

Olaplex (NASDAQ:OLPX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.02). Olaplex had a return on equity of 6.36% and a net margin of 2.91%. The company's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, analysts expect that Olaplex will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Olaplex

Several institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its position in Olaplex by 12.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 27,567,214 shares of the company's stock valued at $35,011,000 after buying an additional 3,066,614 shares during the period. Ninety One UK Ltd raised its holdings in Olaplex by 18.5% in the second quarter. Ninety One UK Ltd now owns 3,333,055 shares of the company's stock worth $4,666,000 after purchasing an additional 520,011 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Olaplex by 9.6% during the fourth quarter. Renaissance Technologies LLC now owns 3,076,969 shares of the company's stock worth $5,323,000 after buying an additional 268,969 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Olaplex by 162.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company's stock worth $4,008,000 after purchasing an additional 1,432,400 shares during the period. Finally, Marshall Wace LLP lifted its stake in Olaplex by 620.8% in the 4th quarter. Marshall Wace LLP now owns 1,001,339 shares of the company's stock worth $1,732,000 after purchasing an additional 862,419 shares in the last quarter. Institutional investors and hedge funds own 87.37% of the company's stock.

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.

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