Olaplex (NASDAQ:OLPX) Shares Up 8.3% After Analyst Upgrade

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) traded up 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. 379,716 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 856,775 shares. The stock had previously closed at $1.63.

A number of other equities research analysts also recently commented on the stock. Barclays lowered 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. Telsey Advisory Group restated a “market perform” rating and set a $3.00 price objective on shares of Olaplex in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.30.

Insider Activity

In other Olaplex news, Director John P. Bilbrey bought 51,697 shares of Olaplex stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $1.75 per share, for a total transaction of $90,469.75. Following the acquisition, the director now owns 318,418 shares of the company’s stock, valued at $557,231.50. The trade was a 19.38 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OLPX. Franklin Resources Inc. purchased a new stake in shares of Olaplex during the 3rd quarter valued at about $664,000. 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 worth $8,717,000 after purchasing an additional 468,570 shares in the last quarter. Abel Hall LLC boosted 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 grew its holdings in Olaplex by 981.5% during the 3rd quarter. XTX Topco Ltd now owns 127,407 shares of the company’s stock valued at $299,000 after purchasing an additional 115,626 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Olaplex by 5,728.5% during the 3rd 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.

Olaplex Stock Down 3.0 %

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 50 day moving average price of $1.88 and a two-hundred day moving average price of $1.98. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 26.84 and a beta of 2.47.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $119.10 million for 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%. Olaplex’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. As a group, sell-side analysts expect that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current year.

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.