Olaplex (NASDAQ:OLPX) Earns Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Olaplex (NASDAQ:OLPX) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $3.00 price target on the stock.

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

Olaplex Trading Up 3.9 %

OLPX stock opened at $1.85 on Thursday. The company has a market capitalization of $1.22 billion, a PE ratio of 26.43 and a beta of 2.47. Olaplex has a 52 week low of $1.19 and a 52 week high of $2.98. The company has a debt-to-equity ratio of 0.75, a quick ratio of 7.85 and a current ratio of 9.27. The company’s 50-day simple moving average is $2.21 and its 200 day simple moving average is $1.88.

Olaplex (NASDAQ:OLPX) last issued its earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The firm had revenue of $103.90 million for the quarter, compared to analyst estimates of $103.65 million. During the same quarter last year, the business posted $0.03 earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Olaplex will post 0.14 earnings per share for the current year.

Insider Activity at Olaplex

In other news, Director John P. Bilbrey acquired 183,493 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was purchased at an average price of $2.05 per share, for a total transaction of $376,160.65. Following the purchase, the director now owns 241,593 shares in the company, valued at approximately $495,265.65. This represents a 300.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Olaplex

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in shares of Olaplex by 42.0% in the second quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock valued at $30,317,000 after buying an additional 5,824,889 shares during the period. Scion Asset Management LLC bought a new stake in Olaplex during the second quarter worth about $1,533,000. Vanguard Group Inc. boosted its stake in Olaplex by 8.4% in the first quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after buying an additional 929,693 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Olaplex in the 1st quarter valued at $563,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Olaplex by 49,511.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 269,392 shares of the company’s stock valued at $633,000 after buying an additional 268,849 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.