Olaplex’s (OLPX) “Market Perform” Rating Reiterated at Telsey Advisory Group

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating restated by equities research analysts at Telsey Advisory Group in a report released on Thursday, Benzinga reports. They presently have a $3.00 price target on the stock. Telsey Advisory Group’s price target suggests a potential upside of 106.03% from the stock’s current price.

Separately, TD Cowen lifted their price objective on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.42.

Olaplex Stock Down 18.7 %

Olaplex stock opened at $1.46 on Thursday. The stock has a market cap of $963.91 million, a price-to-earnings ratio of 20.80 and a beta of 2.47. The company has a current ratio of 9.27, a quick ratio of 7.85 and a debt-to-equity ratio of 0.75. The company’s 50-day moving average price is $2.18 and its two-hundred day moving average price is $1.89. Olaplex has a 52 week low of $1.19 and a 52 week high of $2.98.

Olaplex (NASDAQ:OLPX) last released its earnings results on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $103.90 million for the quarter, compared to analysts’ expectations of $103.65 million. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. Olaplex’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.03 EPS. On average, analysts expect that Olaplex will post 0.14 EPS for the current fiscal year.

Insider Transactions at Olaplex

In other news, Director John P. Bilbrey bought 183,493 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was bought at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the completion of the acquisition, the director now directly owns 241,593 shares in the company, valued at $495,265.65. This represents a 300.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OLPX. Ballentine Partners LLC acquired a new position in shares of Olaplex in the third quarter worth about $28,000. Quarry LP acquired a new stake in shares of Olaplex during the second quarter worth approximately $33,000. Catalina Capital Group LLC boosted its holdings in shares of Olaplex by 51.3% during the second quarter. Catalina Capital Group LLC now owns 24,088 shares of the company’s stock worth $37,000 after purchasing an additional 8,172 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Olaplex by 38.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock worth $40,000 after purchasing an additional 7,235 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Olaplex during the second quarter worth approximately $43,000. 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.