Analysts Set Olaplex Holdings, Inc. (NASDAQ:OLPX) Target Price at $2.59

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have been assigned an average rating of “Hold” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $2.59.

Several analysts recently commented on OLPX shares. 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, April 5th. Piper Sandler raised shares of Olaplex from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $1.25 to $2.00 in a report on Tuesday, March 19th. Finally, Truist Financial lowered their target price on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Monday, March 4th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Olaplex by 13,198.8% in the first quarter. JPMorgan Chase & Co. now owns 227,276 shares of the company’s stock worth $3,551,000 after acquiring an additional 225,567 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Olaplex in the 1st quarter worth approximately $158,000. Citigroup Inc. grew its stake in shares of Olaplex by 179.3% during the 1st quarter. Citigroup Inc. now owns 43,136 shares of the company’s stock worth $674,000 after purchasing an additional 27,690 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Olaplex during the 1st quarter worth approximately $36,000. Finally, Rhumbline Advisers lifted its position in shares of Olaplex by 2.4% during the 1st quarter. Rhumbline Advisers now owns 62,830 shares of the company’s stock valued at $982,000 after buying an additional 1,456 shares in the last quarter. Institutional investors own 87.37% of the company’s stock.

Olaplex Stock Performance

Shares of OLPX opened at $1.38 on Friday. The firm has a 50 day moving average price of $1.86 and a 200-day moving average price of $2.00. Olaplex has a fifty-two week low of $1.35 and a fifty-two week high of $4.27. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92. The firm has a market cap of $911.85 million, a price-to-earnings ratio of 15.34 and a beta of 2.28.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $111.72 million during the quarter, compared to analyst estimates of $108.29 million. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 EPS. As a group, equities research analysts forecast that Olaplex will post 0.14 earnings per share for the current year.

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.