Barclays Cuts Olaplex (NASDAQ:OLPX) Price Target to $1.25

Olaplex (NASDAQ:OLPX) had its price target trimmed by Barclays from $1.50 to $1.25 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research analysts also recently issued reports on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research note on Friday, November 7th. Canaccord Genuity Group upgraded shares of Olaplex from a “hold” rating to a “buy” rating and raised their target price for the company from $1.50 to $2.00 in a report on Monday, August 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Olaplex from a “hold” rating to a “strong sell” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $1.81.

Olaplex Price Performance

OLPX stock opened at $1.15 on Monday. The firm has a 50 day moving average of $1.26 and a 200-day moving average of $1.34. The company has a market cap of $767.64 million, a price-to-earnings ratio of 57.00 and a beta of 2.29. The company has a current ratio of 4.16, a quick ratio of 3.20 and a debt-to-equity ratio of 0.40. Olaplex has a 12-month low of $1.01 and a 12-month high of $2.28.

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 the consensus estimate of $0.02. The firm had revenue of $114.58 million during the quarter, compared to the consensus estimate of $109.77 million. Olaplex had a positive return on equity of 1.31% and a negative net margin of 1.18%.Olaplex’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the business posted $0.04 EPS. Olaplex has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Olaplex will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Olaplex

Several large investors have recently added to or reduced their stakes in OLPX. T. Rowe Price Investment Management Inc. grew its holdings in Olaplex by 12.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 27,567,214 shares of the company’s stock valued at $35,011,000 after buying an additional 3,066,614 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of Olaplex by 1,314.1% in the second quarter. Balyasny Asset Management L.P. now owns 1,508,013 shares of the company’s stock worth $2,111,000 after acquiring an additional 1,401,369 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in Olaplex by 56.2% in the second quarter. Bridgeway Capital Management LLC now owns 2,629,139 shares of the company’s stock valued at $3,681,000 after purchasing an additional 946,265 shares during the period. Nantahala Capital Management LLC purchased a new stake in Olaplex in the first quarter valued at approximately $826,000. Finally, MYDA Advisors LLC acquired a new position in Olaplex during the first quarter worth approximately $762,000. 87.37% of the stock is currently owned by hedge funds and other 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.