Olaplex (NASDAQ:OLPX) Stock Rating Upgraded by Canaccord Genuity Group

Key Points

• Olaplex's stock rating has been upgraded by Canaccord Genuity Group from "hold" to "buy," with a new price target of $2.00, indicating a potential upside of 42.86% from its current price.
• The company's recent quarterly earnings showed a revenue increase of 2.3% year-over-year, but it missed EPS estimates, reporting ($0.01) compared to a consensus of $0.01.
• Institutional investors hold 87.37% of Olaplex's stock, with several firms recently increasing their stakes in the company, indicating a growing interest in its potential.

Olaplex (NASDAQ:OLPX - Get Free Report) was upgraded by Canaccord Genuity Group from a "hold" rating to a "buy" rating in a report released on Monday,Benzinga reports. The brokerage presently has a $2.00 price objective on the stock, up from their previous price objective of $1.50. Canaccord Genuity Group's price objective points to a potential upside of 42.86% from the stock's current price.

Several other research analysts have also recently commented on OLPX. Wall Street Zen raised Olaplex from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Telsey Advisory Group reissued a "market perform" rating and set a $2.00 price objective on shares of Olaplex in a report on Thursday, August 7th. Finally, Barclays lifted their price objective on Olaplex from $1.40 to $1.50 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Olaplex presently has an average rating of "Hold" and a consensus price target of $1.88.

Olaplex Stock Up 4.5%

Shares of Olaplex stock opened at $1.40 on Monday. The stock has a market capitalization of $933.91 million, a P/E ratio of 35.00 and a beta of 2.33. The company has a quick ratio of 3.20, a current ratio of 3.86 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average price of $1.45 and a two-hundred day moving average price of $1.37. Olaplex has a 12-month low of $1.01 and a 12-month high of $2.77.

Olaplex (NASDAQ:OLPX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). Olaplex had a negative net margin of 0.30% and a positive return on equity of 3.32%. The business had revenue of $106.28 million during the quarter, compared to the consensus estimate of $100.30 million. During the same period in the prior year, the company posted $0.03 earnings per share. The firm's revenue was up 2.3% compared to the same quarter last year. Olaplex has set its FY 2025 guidance at EPS. Equities analysts expect that Olaplex will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Olaplex

Several institutional investors have recently modified their holdings of OLPX. Teacher Retirement System of Texas bought a new stake in Olaplex in the 1st quarter valued at approximately $25,000. R Squared Ltd bought a new stake in Olaplex in the 2nd quarter valued at approximately $25,000. Hsbc Holdings PLC bought a new stake in Olaplex in the 4th quarter valued at approximately $34,000. BNP Paribas Financial Markets bought a new stake in Olaplex in the 4th quarter valued at approximately $35,000. Finally, Creative Planning increased its position in shares of Olaplex by 35.0% during the 2nd quarter. Creative Planning now owns 37,357 shares of the company's stock worth $52,000 after purchasing an additional 9,690 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.