Olaplex (NASDAQ:OLPX) Trading Up 10.3% Following Analyst Upgrade

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price traded up 10.3% during trading on Thursday after Northland Capmk upgraded the stock to a strong-buy rating. The stock traded as high as $1.10 and last traded at $1.1140. 179,705 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,258,842 shares. The stock had previously closed at $1.01.

A number of other equities analysts have also weighed in on OLPX. Barclays decreased their target price on Olaplex from $1.50 to $1.25 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a research report on Friday, November 7th. Northland Securities started coverage on shares of Olaplex in a research report on Thursday. They set an “outperform” rating and a $2.00 target price for the company. Zacks Research lowered shares of Olaplex from a “hold” rating to a “strong sell” rating in a report on Monday, October 27th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Olaplex presently has an average rating of “Hold” and a consensus target price of $1.85.

Hedge Funds Weigh In On Olaplex

Several institutional investors and hedge funds have recently made changes to their positions in OLPX. R Squared Ltd purchased a new position in Olaplex in the 2nd quarter worth $25,000. Chilton Capital Management LLC bought a new position in shares of Olaplex during the third quarter valued at about $26,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Olaplex in the third quarter worth about $30,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Olaplex in the third quarter worth about $32,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Olaplex by 95.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after acquiring an additional 14,507 shares during the last quarter. Institutional investors own 87.37% of the company’s stock.

Olaplex Price Performance

The firm has a fifty day moving average of $1.20 and a two-hundred day moving average of $1.33. The company has a current ratio of 4.16, a quick ratio of 3.52 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $734.26 million, a PE ratio of 51.50 and a beta of 2.29.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Olaplex had a positive return on equity of 1.31% and a negative net margin of 1.18%.The firm had revenue of $114.58 million during the quarter, compared to analyst estimates of $109.77 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Olaplex has set its FY 2025 guidance at EPS. Research analysts anticipate that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

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.