Wall Street Zen Upgrades Olaplex (NASDAQ:OLPX) to "Hold"

Olaplex (NASDAQ:OLPX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently issued reports on OLPX. Telsey Advisory Group reissued a "market perform" rating and set a $2.00 price objective on shares of Olaplex in a research report on Friday, May 9th. Barclays boosted their price target on shares of Olaplex from $1.20 to $1.40 and gave the company an "equal weight" rating in a research note on Monday, May 12th. 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 $1.85.

Olaplex Trading Down 3.4%

OLPX stock traded down $0.05 during trading on Friday, reaching $1.44. 670,918 shares of the stock were exchanged, compared to its average volume of 1,971,113. The company has a current ratio of 10.74, a quick ratio of 9.53 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $958.69 million, a price-to-earnings ratio of 72.04 and a beta of 2.33. The business has a 50 day moving average price of $1.37 and a 200-day moving average price of $1.41. Olaplex has a 1 year low of $1.01 and a 1 year high of $2.77.

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

Hedge Funds Weigh In On Olaplex

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its stake in shares of Olaplex by 181.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 24,500,600 shares of the company's stock valued at $42,387,000 after purchasing an additional 15,800,642 shares during the period. Boston Partners grew its stake in shares of Olaplex by 276.0% in the fourth quarter. Boston Partners now owns 6,674,169 shares of the company's stock worth $11,257,000 after acquiring an additional 4,899,171 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Olaplex by 162.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company's stock valued at $4,008,000 after acquiring an additional 1,432,400 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Olaplex by 620.8% in the fourth quarter. Marshall Wace LLP now owns 1,001,339 shares of the company's stock valued at $1,732,000 after acquiring an additional 862,419 shares in the last quarter. Finally, Nantahala Capital Management LLC purchased a new position in Olaplex in the first quarter valued at $826,000. 87.37% of the stock is currently 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.