Olaplex (NASDAQ:OLPX) Stock Price Up 8.3% Following Analyst Upgrade

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price shot 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 changed 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 analysts have also issued reports on OLPX. Barclays decreased their target price on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research 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 research note on Thursday, November 7th. 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, the stock has a consensus rating of “Hold” and an average price target of $2.30.

Insiders Place Their Bets

In related news, Director John P. Bilbrey purchased 51,697 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $1.75 per share, with a total value of $90,469.75. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OLPX. Vanguard Personalized Indexing Management LLC boosted its holdings in Olaplex by 38.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock valued at $40,000 after purchasing an additional 7,235 shares during the period. Abel Hall LLC lifted its holdings in Olaplex by 68.1% during the 3rd 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 last quarter. Sanders Morris Harris LLC grew its position in Olaplex by 2.9% during the 3rd quarter. Sanders Morris Harris LLC now owns 354,000 shares of the company’s stock worth $832,000 after acquiring an additional 10,000 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Olaplex in the third quarter valued at $28,000. Finally, Paragon Capital Management Inc. raised its stake in shares of Olaplex by 40.7% in the second quarter. Paragon Capital Management Inc. now owns 45,638 shares of the company’s stock worth $70,000 after acquiring an additional 13,206 shares during the last quarter. 87.37% of the stock is owned by institutional investors.

Olaplex Stock Performance

The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 27.67 and a beta of 2.47. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $1.89 and a 200-day simple moving average of $1.98.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The company had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $126.51 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts forecast that Olaplex Holdings, Inc. will post 0.11 EPS for the current fiscal year.

Olaplex Company Profile

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.