Telsey Advisory Group Reiterates “Market Perform” Rating for Olaplex (NASDAQ:OLPX)

Telsey Advisory Group reiterated their market perform rating on shares of Olaplex (NASDAQ:OLPX) in a research note released on Wednesday, Benzinga reports. They currently have a $2.00 price objective on the stock.

Olaplex Stock Performance

Shares of OLPX stock opened at $1.93 on Wednesday. The stock’s fifty day simple moving average is $1.73 and its 200-day simple moving average is $1.79. The company has a current ratio of 10.71, a quick ratio of 9.12 and a debt-to-equity ratio of 0.76. Olaplex has a 1-year low of $1.19 and a 1-year high of $3.66. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 27.57 and a beta of 2.42.

Olaplex (NASDAQ:OLPX) last issued its earnings results on Thursday, May 2nd. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a return on equity of 11.61% and a net margin of 10.91%. The firm had revenue of $98.90 million for the quarter, compared to the consensus estimate of $95.15 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. On average, sell-side analysts predict that Olaplex will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of Olaplex by 34.9% during the 2nd quarter. Rhumbline Advisers now owns 153,442 shares of the company’s stock worth $236,000 after acquiring an additional 39,698 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Olaplex by 29.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock worth $1,451,000 after acquiring an additional 212,129 shares in the last quarter. Catalina Capital Group LLC boosted its stake in shares of Olaplex by 51.3% during the 2nd quarter. Catalina Capital Group LLC now owns 24,088 shares of the company’s stock worth $37,000 after acquiring an additional 8,172 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of Olaplex by 148.2% during the 2nd quarter. Wedmont Private Capital now owns 91,315 shares of the company’s stock worth $151,000 after acquiring an additional 54,521 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Olaplex during the 2nd quarter worth about $43,000. 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.