Olaplex (NASDAQ:OLPX) Given New $2.00 Price Target at Piper Sandler

Olaplex (NASDAQ:OLPX) had its price target boosted by Piper Sandler from $1.50 to $2.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently commented on the company. Telsey Advisory Group reiterated a “market perform” rating and set a $3.00 target price on shares of Olaplex in a report on Thursday, November 7th. Barclays decreased their price objective on Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Olaplex has a consensus rating of “Hold” and a consensus price target of $2.30.

Olaplex Trading Up 1.8 %

NASDAQ:OLPX opened at $1.66 on Monday. Olaplex has a 52-week low of $1.19 and a 52-week high of $2.77. 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 stock has a fifty day simple moving average of $1.89 and a 200-day simple moving average of $1.98. The company has a market capitalization of $1.10 billion, a PE ratio of 27.67 and a beta of 2.47.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $126.51 million. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. On average, equities research analysts expect that Olaplex will post 0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John P. Bilbrey purchased 25,128 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $1.76 per share, with a total value of $44,225.28. Following the completion of the transaction, the director now owns 266,721 shares of the company’s stock, valued at approximately $469,428.96. This trade represents a 10.40 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Olaplex

Several institutional investors have recently made changes to their positions in OLPX. Franklin Resources Inc. acquired a new position in Olaplex in the third quarter valued at $664,000. Geode Capital Management LLC lifted its stake in shares of Olaplex by 14.5% in 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 in the last quarter. Abel Hall LLC grew its holdings in shares of Olaplex by 68.1% during the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock worth $43,000 after purchasing an additional 7,397 shares during the period. XTX Topco Ltd increased its position in Olaplex by 981.5% during the 3rd quarter. XTX Topco Ltd now owns 127,407 shares of the company’s stock worth $299,000 after purchasing an additional 115,626 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in 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 buying an additional 2,588,216 shares during the period. 87.37% of the stock is owned by hedge funds and other institutional investors.

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.