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

Olaplex (NASDAQ:OLPX) had its target price increased by Piper Sandler from $1.50 to $2.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

OLPX has been the topic of several other reports. Telsey Advisory Group restated a “market perform” rating and issued a $3.00 target price on shares of Olaplex in a research note on Thursday, November 7th. Barclays lowered 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.30.

Olaplex Price Performance

Shares of NASDAQ:OLPX opened at $1.57 on Monday. The company has a market capitalization of $1.04 billion, a P/E ratio of 26.17 and a beta of 2.47. The company’s 50-day moving average is $1.87 and its 200 day moving average is $1.97. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84. Olaplex has a fifty-two week low of $1.19 and a fifty-two week high of $2.77.

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

Insider Activity at Olaplex

In other news, Director John P. Bilbrey acquired 51,697 shares of Olaplex stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price 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 in the company, valued at approximately $557,231.50. The trade was a 19.38 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Olaplex

Several institutional investors and hedge funds have recently bought and sold shares of OLPX. Jane Street Group LLC increased its holdings in shares of Olaplex by 5,728.5% in the third 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 during the period. Geode Capital Management LLC increased its stake in Olaplex by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock worth $8,717,000 after acquiring an additional 468,570 shares during the last quarter. Franklin Resources Inc. bought a new position in Olaplex in the 3rd quarter worth about $664,000. Bank of New York Mellon Corp raised its holdings in shares of Olaplex by 29.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock valued at $1,451,000 after acquiring an additional 212,129 shares in the last quarter. Finally, Scion Asset Management LLC bought a new stake in shares of Olaplex during the 2nd quarter valued at about $1,533,000. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

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.