Northland Securities Begins Coverage on Olaplex (NASDAQ:OLPX)

Analysts at Northland Securities started coverage on shares of Olaplex (NASDAQ:OLPX) in a research note issued on Thursday, Marketbeat reports. The firm set an “outperform” rating and a $2.00 price target on the stock. Northland Securities’ price target would suggest a potential upside of 81.82% from the company’s current price.

A number of other research firms also recently issued reports on OLPX. Zacks Research downgraded shares of Olaplex from a “hold” rating to a “strong sell” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a research report on Wednesday, October 8th. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a report on Friday, November 7th. Canaccord Genuity Group raised Olaplex from a “hold” rating to a “buy” rating and lifted their price target for the stock from $1.50 to $2.00 in a research note on Monday, August 25th. Finally, Barclays decreased their price objective on shares of Olaplex from $1.50 to $1.25 and set an “equal weight” rating on the stock in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Olaplex has a consensus rating of “Hold” and an average price target of $1.85.

Olaplex Price Performance

Shares of NASDAQ OLPX opened at $1.10 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.52 and a current ratio of 4.16. Olaplex has a one year low of $0.99 and a one year high of $2.28. The firm has a market capitalization of $734.26 million, a P/E ratio of 51.50 and a beta of 2.29. The company’s fifty day moving average is $1.20 and its two-hundred day moving average is $1.33.

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

Institutional Trading of Olaplex

Several institutional investors and hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its position in Olaplex by 12.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 27,567,214 shares of the company’s stock worth $35,011,000 after purchasing an additional 3,066,614 shares in the last quarter. Portolan Capital Management LLC boosted its stake in shares of Olaplex by 132.6% during the 3rd quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock worth $4,762,000 after purchasing an additional 2,072,383 shares during the last quarter. Ninety One UK Ltd grew its holdings in shares of Olaplex by 1.6% during the third quarter. Ninety One UK Ltd now owns 3,385,918 shares of the company’s stock worth $4,436,000 after buying an additional 52,863 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Olaplex by 2.1% during the third quarter. Bridgeway Capital Management LLC now owns 2,684,791 shares of the company’s stock worth $3,517,000 after buying an additional 55,652 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised 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 valued at $2,111,000 after buying an additional 1,401,369 shares during the last quarter. 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.