Olaplex (NASDAQ:OLPX) Stock Price Up 8.3% on Analyst Upgrade

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) rose 8.3% during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $1.50 to $2.00. Piper Sandler currently has a neutral rating on the stock. Olaplex traded as high as $1.78 and last traded at $1.77. Approximately 379,716 shares changed hands during trading, a decline of 56% from the average daily volume of 856,775 shares. The stock had previously closed at $1.63.

Other equities research analysts have also recently issued research reports about the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $3.00 price target on shares of Olaplex in a report on Thursday, November 7th. Barclays dropped their price objective 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Olaplex currently has a consensus rating of “Hold” and a consensus price target of $2.30.

Insider Activity at Olaplex

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OLPX. Pacer Advisors Inc. grew its holdings in Olaplex by 42.0% in the 2nd quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock worth $30,317,000 after acquiring an additional 5,824,889 shares during the last quarter. Jane Street Group LLC grew 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 worth $6,188,000 after purchasing an additional 2,588,216 shares during the last quarter. Scion Asset Management LLC purchased a new position in Olaplex during the 2nd quarter valued at about $1,533,000. Geode Capital Management LLC raised its position in Olaplex by 14.5% during the 3rd 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 during the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Olaplex in the 3rd quarter worth approximately $664,000. 87.37% of the stock is owned by hedge funds and other institutional investors.

Olaplex Trading Up 1.8 %

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 stock has a market capitalization of $1.10 billion, a P/E ratio of 27.67 and a beta of 2.47. The stock has a 50-day moving average price of $1.89 and a two-hundred day moving average price of $1.98.

Olaplex (NASDAQ:OLPX) last issued 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 net margin of 9.78% and a return on equity of 10.50%. The business 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 firm earned $0.05 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts forecast that Olaplex Holdings, Inc. will post 0.11 EPS 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.