Piper Sandler Issues Positive Forecast for Olaplex (NASDAQ:OLPX) Stock Price

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

Several other research firms have also recently commented on OLPX. Telsey Advisory Group restated a “market perform” rating and set a $3.00 price target on shares of Olaplex in a report on Thursday, November 7th. Barclays lowered their price target on 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.30.

Olaplex Trading Up 5.8 %

OLPX stock traded up $0.10 during mid-day trading on Monday, reaching $1.73. 860,822 shares of the stock traded hands, compared to its average volume of 1,106,306. The stock’s fifty day moving average is $1.90 and its 200-day moving average is $1.98. The company has a market cap of $1.14 billion, a P/E ratio of 28.75 and a beta of 2.48. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. Olaplex has a 52-week low of $1.19 and a 52-week high of $2.77.

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

Insider Activity

In related news, Director John P. Bilbrey acquired 51,697 shares of the business’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $1.75 per share, with a total value of $90,469.75. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Olaplex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake in shares of Olaplex by 5,728.5% in the third quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock valued at $6,188,000 after acquiring an additional 2,588,216 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 worth $8,717,000 after purchasing an additional 468,570 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Olaplex in the third quarter valued at $664,000. Bank of New York Mellon Corp raised its holdings in shares of Olaplex by 29.1% in the second quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock valued at $1,451,000 after buying an additional 212,129 shares during the last quarter. Finally, Scion Asset Management LLC acquired a new position in Olaplex during the 2nd quarter worth about $1,533,000. 87.37% of the stock is currently owned by institutional investors and hedge funds.

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.