Olaplex (NASDAQ:OLPX – Get Free Report)‘s stock had its “market perform” rating reissued by Telsey Advisory Group in a research note issued to investors on Thursday, Benzinga reports. They currently have a $2.00 target price on the stock. Telsey Advisory Group’s target price suggests a potential upside of 18.69% from the company’s current price.
A number of other research analysts have also recently issued reports on OLPX. 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 research report on Tuesday, March 19th. Truist Financial decreased their target price on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a report on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Olaplex presently has a consensus rating of “Hold” and a consensus price target of $2.59.
Check Out Our Latest Stock Analysis on OLPX
Olaplex Trading Up 20.4 %
Olaplex (NASDAQ:OLPX – Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The company had revenue of $111.72 million during the quarter, compared to analysts’ expectations of $108.29 million. During the same period last year, the company posted $0.07 EPS. Olaplex’s revenue was down 14.5% on a year-over-year basis. Equities research analysts predict that Olaplex will post 0.14 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Olaplex
A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Olaplex by 8.9% in the third quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock worth $18,796,000 after purchasing an additional 787,242 shares during the period. Pacer Advisors Inc. boosted its position in shares of Olaplex by 34.8% in the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock worth $20,911,000 after purchasing an additional 2,124,323 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Olaplex in the fourth quarter worth approximately $3,996,000. Hsbc Holdings PLC boosted its position in shares of Olaplex by 86.5% in the third quarter. Hsbc Holdings PLC now owns 627,989 shares of the company’s stock worth $1,221,000 after purchasing an additional 291,191 shares during the period. Finally, Sanders Morris Harris LLC purchased a new position in shares of Olaplex in the first quarter worth $660,000. 87.37% of the stock is currently owned by institutional investors.
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.
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