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

Olaplex (NASDAQ:OLPX - Free Report) had its target price increased by Piper Sandler from $1.50 to $2.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

OLPX has been the subject of several other research reports. Telsey Advisory Group restated a "market perform" rating and set a $3.00 target price on shares of Olaplex in a report on Thursday, November 7th. Barclays reduced their price objective on shares of Olaplex from $2.00 to $1.50 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Olaplex currently has an average rating of "Hold" and an average target price of $2.30.

Olaplex Stock Up 1.8 %

Shares of NASDAQ:OLPX traded up $0.03 during midday trading on Monday, reaching $1.66. 2,731,106 shares of the company were exchanged, compared to its average volume of 1,740,135. The firm has a market cap of $1.10 billion, a PE ratio of 27.67 and a beta of 2.48. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73. Olaplex has a fifty-two week low of $1.19 and a fifty-two week high of $2.77. The stock has a fifty day simple moving average of $1.90 and a two-hundred day simple moving average of $1.98.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The company had revenue of $119.10 million for the quarter, compared to analyst estimates of $126.51 million. During the same period in the previous year, the company posted $0.05 earnings per share. The company's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Olaplex will post 0.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John P. Bilbrey acquired 51,697 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $1.75 per share, for a total transaction of $90,469.75. Following the purchase, the director now directly owns 318,418 shares of the company's stock, valued at approximately $557,231.50. This trade represents a 19.38 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Olaplex

Several hedge funds have recently bought and sold shares of OLPX. Bank of New York Mellon Corp raised its stake in Olaplex by 29.1% in the second quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company's stock valued at $1,451,000 after buying an additional 212,129 shares during the period. Rhumbline Advisers lifted its holdings in Olaplex by 34.9% during the 2nd quarter. Rhumbline Advisers now owns 153,442 shares of the company's stock valued at $236,000 after purchasing an additional 39,698 shares during the last quarter. Norden Group LLC boosted its position in Olaplex by 41.4% during the second quarter. Norden Group LLC now owns 51,803 shares of the company's stock worth $80,000 after purchasing an additional 15,165 shares during the period. Oak Thistle LLC acquired a new position in shares of Olaplex in the second quarter valued at $161,000. Finally, Renaissance Technologies LLC raised its position in shares of Olaplex by 0.6% in the second quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company's stock valued at $3,852,000 after purchasing an additional 14,200 shares during the period. 87.37% of the stock is currently owned by institutional investors and hedge funds.

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.