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

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating reissued by investment analysts at Telsey Advisory Group in a note issued to investors on Friday,Benzinga reports. They currently have a $2.00 price objective on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 84.33% from the company’s previous close.

OLPX has been the topic of a number of other reports. Zacks Research downgraded shares of Olaplex from a “hold” rating to a “strong sell” rating in a research report on Monday, October 27th. Canaccord Genuity Group upgraded Olaplex from a “hold” rating to a “buy” rating and lifted their price target for the company from $1.50 to $2.00 in a research report on Monday, August 25th. Wall Street Zen raised Olaplex from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Barclays lifted their price target on Olaplex from $1.40 to $1.50 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Olaplex in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Olaplex presently has a consensus rating of “Reduce” and a consensus price target of $1.88.

Olaplex Stock Performance

Olaplex stock traded up $0.01 during mid-day trading on Friday, hitting $1.09. 42,828 shares of the company’s stock traded hands, compared to its average volume of 1,263,390. The company has a quick ratio of 3.20, a current ratio of 3.86 and a debt-to-equity ratio of 0.40. Olaplex has a one year low of $1.01 and a one year high of $2.28. The firm has a 50 day moving average price of $1.28 and a 200 day moving average price of $1.35. The company has a market cap of $723.78 million, a PE ratio of 26.50 and a beta of 2.29.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. Olaplex had a positive return on equity of 3.32% and a negative net margin of 0.30%.The company had revenue of $114.58 million for the quarter, compared to analyst estimates of $109.77 million. During the same period last year, the company earned $0.04 earnings per share. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Olaplex has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Olaplex will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new stake in shares of Olaplex in the first quarter valued at about $25,000. TD Asset Management Inc boosted its position in shares of Olaplex by 15.2% in the first quarter. TD Asset Management Inc now owns 678,942 shares of the company’s stock valued at $862,000 after acquiring an additional 89,698 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Olaplex in the first quarter worth $123,000. XTX Topco Ltd raised its stake in Olaplex by 71.6% during the 1st quarter. XTX Topco Ltd now owns 104,385 shares of the company’s stock valued at $133,000 after purchasing an additional 43,565 shares during the last quarter. Finally, Virtu Financial LLC raised its position in shares of Olaplex by 135.2% during the first quarter. Virtu Financial LLC now owns 74,454 shares of the company’s stock valued at $95,000 after buying an additional 42,796 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors and hedge funds.

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.