Olaplex (NASDAQ:OLPX) Stock Price Up 10.3% on Analyst Upgrade

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

Several other equities analysts have also recently commented on the stock. Barclays lowered their price target on shares of Olaplex from $1.50 to $1.25 and set an “equal weight” rating on the stock in a report on Monday, November 10th. Canaccord Genuity Group raised 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. Northland Securities began coverage on Olaplex in a research report on Thursday. They issued an “outperform” rating and a $2.00 price target on the stock. Zacks Research cut Olaplex from a “hold” rating to a “strong sell” rating in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $1.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Olaplex during the second quarter worth $25,000. Chilton Capital Management LLC bought a new stake in Olaplex in the third quarter valued at about $26,000. Schonfeld Strategic Advisors LLC acquired a new position in Olaplex in the third quarter worth about $30,000. Wealth Enhancement Advisory Services LLC bought a new position in Olaplex during the third quarter worth about $32,000. Finally, BNP Paribas Financial Markets boosted its holdings in Olaplex by 95.4% during the third quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after purchasing an additional 14,507 shares in the last quarter. 87.37% of the stock is owned by institutional investors.

Olaplex Stock Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.52 and a current ratio of 4.16. The firm has a 50 day moving average price of $1.20 and a two-hundred day moving average price of $1.33. The company has a market capitalization of $734.26 million, a P/E ratio of 51.50 and a beta of 2.29.

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

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.