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

Olaplex (NASDAQ:OLPX) had its price objective raised by research analysts at Piper Sandler from $1.50 to $2.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 15.94% from the stock’s previous close.

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

Olaplex Trading Up 5.8 %

Shares of OLPX stock traded up $0.10 on Monday, hitting $1.73. 860,822 shares of the stock traded hands, compared to its average volume of 1,106,306. The stock has a market capitalization of $1.14 billion, a PE ratio of 28.75 and a beta of 2.48. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84. The firm’s 50-day moving average price is $1.90 and its two-hundred day moving average price is $1.98. Olaplex has a twelve month low of $1.19 and a twelve month high of $2.77.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $119.10 million for the quarter, compared to analyst estimates of $126.51 million. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. Olaplex’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. As a group, analysts anticipate that Olaplex will post 0.11 EPS for the current year.

Insider Buying and Selling at Olaplex

In related news, Director John P. Bilbrey bought 25,128 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $1.76 per share, for a total transaction of $44,225.28. Following the completion of the acquisition, the director now owns 266,721 shares in the company, valued at $469,428.96. This trade represents a 10.40 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Olaplex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. acquired a new stake in shares of Olaplex during the 3rd quarter valued at approximately $664,000. Geode Capital Management LLC grew 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 purchasing an additional 468,570 shares during the last quarter. Abel Hall LLC increased its stake in shares of Olaplex by 68.1% in the third quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock valued at $43,000 after purchasing an additional 7,397 shares during the period. XTX Topco Ltd raised its holdings in shares of Olaplex by 981.5% during the third quarter. XTX Topco Ltd now owns 127,407 shares of the company’s stock valued at $299,000 after buying an additional 115,626 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Olaplex by 5,728.5% during the third quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after buying an additional 2,588,216 shares during the period. Institutional investors and hedge funds own 87.37% of the company’s stock.

About Olaplex

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.