Olaplex (NASDAQ:OLPX) Earns Market Perform Rating from Telsey Advisory Group

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating reaffirmed by equities researchers at Telsey Advisory Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $2.00 price objective on the stock. Telsey Advisory Group’s price target would suggest a potential upside of 35.14% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Barclays dropped their price objective on Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Piper Sandler upped their price objective on shares of Olaplex from $1.50 to $2.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Olaplex currently has a consensus rating of “Hold” and an average target price of $2.10.

Olaplex Price Performance

Shares of NASDAQ OLPX opened at $1.48 on Tuesday. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $981.13 million, a PE ratio of 24.67 and a beta of 2.45. The stock’s 50 day moving average price is $1.58 and its 200-day moving average price is $1.91. Olaplex has a twelve month low of $1.19 and a twelve month high of $2.77.

Institutional Investors Weigh In On Olaplex

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in Olaplex by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock worth $8,717,000 after buying an additional 468,570 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Olaplex by 5,728.5% in the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock valued at $6,188,000 after purchasing an additional 2,588,216 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Olaplex during the 3rd quarter valued at $664,000. Ninety One UK Ltd lifted its stake in Olaplex by 99.3% in the fourth quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company’s stock worth $7,335,000 after purchasing an additional 2,112,009 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Olaplex during the third quarter valued at about $80,000. Institutional investors own 87.37% of the company’s stock.

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.