Olaplex (NASDAQ:OLPX) Downgraded by Wall Street Zen to "Sell"

Olaplex (NASDAQ:OLPX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.

Several other research analysts also recently commented on OLPX. Telsey Advisory Group reiterated a "market perform" rating and issued a $2.00 price objective on shares of Olaplex in a report on Friday, May 9th. Barclays lifted their price objective on Olaplex from $1.20 to $1.40 and gave the stock an "equal weight" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $1.85.

Olaplex Trading Down 6.7%

Shares of OLPX traded down $0.10 during mid-day trading on Friday, reaching $1.40. The company's stock had a trading volume of 1,445,871 shares, compared to its average volume of 2,001,460. Olaplex has a 52 week low of $1.01 and a 52 week high of $2.77. The stock has a market cap of $932.06 million, a PE ratio of 18.75 and a beta of 2.33. The company's fifty day moving average price is $1.33 and its two-hundred day moving average price is $1.43. 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 (NASDAQ:OLPX - Get Free Report) last issued 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). Olaplex had a return on equity of 6.36% and a net margin of 2.91%. The business had revenue of $96.98 million during the quarter, compared to analysts' expectations of $93.82 million. During the same quarter in the previous year, the business earned $0.03 EPS. Olaplex's revenue for the quarter was down 1.9% compared to the same quarter last year. On average, analysts predict that Olaplex will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OLPX. Charles Schwab Investment Management Inc. grew its stake in shares of Olaplex by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company's stock worth $1,861,000 after purchasing an additional 9,661 shares during the last quarter. Belpointe Asset Management LLC grew its stake in shares of Olaplex by 23.6% in the fourth quarter. Belpointe Asset Management LLC now owns 61,461 shares of the company's stock worth $106,000 after purchasing an additional 11,724 shares during the last quarter. MetLife Investment Management LLC boosted its position in Olaplex by 20.0% during the 1st quarter. MetLife Investment Management LLC now owns 70,438 shares of the company's stock valued at $89,000 after acquiring an additional 11,759 shares in the last quarter. ProShare Advisors LLC boosted its position in Olaplex by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 39,052 shares of the company's stock valued at $68,000 after acquiring an additional 12,852 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Olaplex by 290.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company's stock valued at $37,000 after acquiring an additional 15,911 shares in the last quarter. Hedge funds and other institutional investors 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.