Olaplex (NASDAQ:OLPX) Price Target Raised to $2.00

Olaplex (NASDAQ:OLPX) had its price target upped by Piper Sandler from $1.50 to $2.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $3.00 price objective on shares of Olaplex in a research note on Thursday, November 7th. Barclays decreased their price target on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.30.

Olaplex Price Performance

OLPX stock opened at $1.57 on Monday. 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 firm has a market cap of $1.04 billion, a price-to-earnings ratio of 26.17 and a beta of 2.47. The company’s fifty day simple moving average is $1.87 and its 200 day simple moving average is $1.97. Olaplex has a 12-month low of $1.19 and a 12-month high of $2.77.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The company had revenue of $119.10 million for the quarter, compared to the consensus estimate of $126.51 million. During the same period in the previous year, the business earned $0.05 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, analysts expect that Olaplex will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Olaplex

In other Olaplex news, Director John P. Bilbrey purchased 51,697 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $1.75 per share, with a total value of $90,469.75. Following the transaction, the director now owns 318,418 shares in the company, valued at $557,231.50. The trade was a 19.38 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Olaplex

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. grew its holdings in Olaplex by 42.0% during the second quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock worth $30,317,000 after buying an additional 5,824,889 shares in the last quarter. Jane Street Group LLC grew 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 worth $6,188,000 after acquiring an additional 2,588,216 shares in the last quarter. Scion Asset Management LLC purchased a new stake in shares of Olaplex in the second quarter valued at about $1,533,000. Geode Capital Management LLC lifted its position in shares of Olaplex by 14.5% during the third quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock valued at $8,717,000 after purchasing an additional 468,570 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in Olaplex during the third quarter worth about $664,000. 87.37% of the stock is 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.