Telsey Advisory Group Reiterates "Market Perform" Rating for Olaplex (NASDAQ:OLPX)

Olaplex (NASDAQ:OLPX - Get Free Report)'s stock had its "market perform" rating reaffirmed by investment analysts at Telsey Advisory Group in a report released on Thursday,Benzinga reports. They presently have a $3.00 price objective on the stock. Telsey Advisory Group's target price would suggest a potential upside of 85.19% from the stock's previous close.

Separately, TD Cowen boosted their price objective on shares of Olaplex from $1.80 to $2.00 and gave the company a "hold" rating in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $2.42.

Olaplex Price Performance

Shares of OLPX stock traded down $0.17 during midday trading on Thursday, reaching $1.62. 10,393,137 shares of the company were exchanged, compared to its average volume of 2,415,765. Olaplex has a 12 month low of $1.19 and a 12 month high of $2.98. The company has a market cap of $1.07 billion, a P/E ratio of 20.80 and a beta of 2.47. The company's 50 day moving average price is $2.18 and its two-hundred day moving average price is $1.89. The company has a debt-to-equity ratio of 0.75, a quick ratio of 7.85 and a current ratio of 9.27.

Olaplex (NASDAQ:OLPX - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, hitting analysts' consensus estimates of $0.03. The business had revenue of $103.90 million for the quarter, compared to the consensus estimate of $103.65 million. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The business's revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. On average, sell-side analysts expect that Olaplex will post 0.14 earnings per share for the current year.

Insider Activity at Olaplex

In other news, Director John P. Bilbrey purchased 183,493 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the transaction, the director now directly owns 241,593 shares of the company's stock, valued at approximately $495,265.65. The trade was a 300.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 4.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Olaplex

Several hedge funds have recently made changes to their positions in OLPX. Ballentine Partners LLC bought a new position in shares of Olaplex during the 3rd quarter worth approximately $28,000. Quarry LP bought a new position in shares of Olaplex in the second quarter valued at $33,000. Catalina Capital Group LLC grew its stake in shares of Olaplex by 51.3% in the second quarter. Catalina Capital Group LLC now owns 24,088 shares of the company's stock valued at $37,000 after buying an additional 8,172 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Olaplex by 38.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company's stock valued at $40,000 after buying an additional 7,235 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Olaplex in the second quarter valued at $43,000. 87.37% of the stock is owned by 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.