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

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) shares traded up 8.3% during 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 were traded 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.

Several other brokerages have also recently weighed in on OLPX. Telsey Advisory Group reissued a "market perform" rating and set a $3.00 price target on shares of Olaplex in a research 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 on the stock in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Olaplex has an average rating of "Hold" and a consensus price target of $2.30.

Insider Buying and Selling at Olaplex

In other Olaplex news, Director John P. Bilbrey acquired 25,128 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $1.76 per share, with a total value of $44,225.28. Following the transaction, the director now owns 266,721 shares of the company's stock, valued at approximately $469,428.96. This trade represents a 10.40 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Olaplex

Large investors have recently modified their holdings of the stock. Franklin Resources Inc. acquired a new stake in shares of Olaplex in the 3rd quarter worth $664,000. Geode Capital Management LLC lifted its holdings in Olaplex by 14.5% in the third quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company's stock valued at $8,717,000 after acquiring an additional 468,570 shares during the period. Abel Hall LLC boosted its position in shares of Olaplex by 68.1% during the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company's stock worth $43,000 after purchasing an additional 7,397 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Olaplex by 981.5% in the 3rd quarter. XTX Topco Ltd now owns 127,407 shares of the company's stock valued at $299,000 after purchasing an additional 115,626 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Olaplex by 5,728.5% during the third quarter. Jane Street Group LLC now owns 2,633,397 shares of the company's stock worth $6,188,000 after buying an additional 2,588,216 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company's stock.

Olaplex Price Performance

The business's 50 day moving average price is $1.89 and its 200-day moving average price is $1.98. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73. The company has a market cap of $1.10 billion, a PE ratio of 27.67 and a beta of 2.48.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, hitting analysts' consensus estimates of $0.04. The company 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%. The firm's revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 earnings per share. As a group, analysts forecast that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current year.

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.