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

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price rose 8.3% during 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 were traded during mid-day trading, a decline of 56% from the average daily volume of 856,775 shares. The stock had previously closed at $1.63.

A number of other research analysts have also recently commented on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $3.00 target price on shares of Olaplex in a research report on Thursday, November 7th. Barclays decreased their price objective on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock 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 MarketBeat, Olaplex currently has a consensus rating of “Hold” and a consensus price target of $2.30.

Insider Transactions at Olaplex

In other news, Director John P. Bilbrey bought 51,697 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $1.75 per share, for a total transaction of $90,469.75. Following the completion of the purchase, the director now owns 318,418 shares of the company’s stock, valued at approximately $557,231.50. This represents a 19.38 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Olaplex

Institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its position in shares of Olaplex by 38.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock worth $40,000 after acquiring an additional 7,235 shares in the last quarter. Abel Hall LLC boosted its holdings in 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 in the last quarter. Sanders Morris Harris LLC increased its stake in Olaplex by 2.9% in the third quarter. Sanders Morris Harris LLC now owns 354,000 shares of the company’s stock valued at $832,000 after purchasing an additional 10,000 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Olaplex during the third quarter worth approximately $28,000. Finally, Paragon Capital Management Inc. lifted its position in shares of Olaplex by 40.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 45,638 shares of the company’s stock worth $70,000 after buying an additional 13,206 shares during the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

Olaplex Price Performance

The stock has a market capitalization of $1.07 billion, a PE ratio of 26.84 and a beta of 2.47. 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’s 50-day moving average is $1.88 and its 200 day moving average is $1.98.

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