Telsey Advisory Group reaffirmed their market perform rating on shares of Olaplex (NASDAQ:OLPX – Free Report) in a report published on Thursday morning, Benzinga reports. The brokerage currently has a $2.00 target price on the stock.
A number of other research firms also recently issued reports on OLPX. Truist Financial dropped their price objective 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. Piper Sandler upgraded Olaplex from an underweight rating to a neutral rating and upped their price objective for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Olaplex has an average rating of Hold and a consensus target price of $2.59.
Check Out Our Latest Analysis on Olaplex
Olaplex Price Performance
Olaplex (NASDAQ:OLPX – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $98.90 million for the quarter, compared to analysts’ expectations of $95.15 million. Olaplex had a return on equity of 11.68% and a net margin of 10.91%. The company’s revenue was down 13.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS. On average, sell-side analysts forecast that Olaplex will post 0.14 EPS for the current year.
Institutional Trading of Olaplex
Several hedge funds and other institutional investors have recently bought and sold shares of OLPX. Catalina Capital Group LLC purchased a new position in shares of Olaplex in the first quarter worth $31,000. Norden Group LLC bought a new stake in Olaplex in the 1st quarter worth $70,000. HB Wealth Management LLC increased its position in shares of Olaplex by 115.0% in the first quarter. HB Wealth Management LLC now owns 29,575 shares of the company’s stock valued at $57,000 after acquiring an additional 15,821 shares during the period. Simplicity Wealth LLC purchased a new stake in shares of Olaplex during the first quarter worth about $55,000. Finally, Sanders Morris Harris LLC bought a new stake in shares of Olaplex in the first quarter worth about $660,000. Institutional investors own 87.37% of the company’s stock.
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.
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