Olaplex (NASDAQ:OLPX) Stock Price Expected to Rise, Piper Sandler Analyst Says

Olaplex (NASDAQ:OLPX) had its target price boosted by Piper Sandler from $1.50 to $2.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 24.22% from the company’s current price.

A number of other brokerages have also recently weighed in on OLPX. Barclays dropped their price target 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. Telsey Advisory Group reissued a “market perform” rating and issued a $3.00 target price on shares of Olaplex in a research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.30.

Olaplex Stock Performance

Shares of NASDAQ OLPX opened at $1.61 on Monday. Olaplex has a 1 year low of $1.19 and a 1 year high of $2.77. 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 fifty day moving average price of $1.88 and a two-hundred day moving average price of $1.98. The firm has a market cap of $1.07 billion, a P/E ratio of 26.84 and a beta of 2.47.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $119.10 million for 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%. 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 earnings per share. Research analysts forecast that Olaplex will post 0.11 EPS for the current fiscal year.

Insider Transactions at Olaplex

In related news, Director John P. Bilbrey acquired 51,697 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $1.75 per share, for a total transaction of $90,469.75. Following the purchase, the director now owns 318,418 shares in the company, valued at $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 link. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Olaplex

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its position in Olaplex by 42.0% during the second quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock valued at $30,317,000 after purchasing an additional 5,824,889 shares during the last quarter. Jane Street Group LLC raised its stake in shares of 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 purchasing an additional 2,588,216 shares in the last quarter. Scion Asset Management LLC acquired a new stake in shares of Olaplex during the 2nd quarter valued at about $1,533,000. Geode Capital Management LLC grew 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 buying an additional 468,570 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in Olaplex during the third quarter valued at approximately $664,000. 87.37% of the stock is currently 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.