Olaplex (NASDAQ:OLPX) Trading Up 4.5% – Time to Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price rose 4.5% during mid-day trading on Tuesday . The company traded as high as $1.76 and last traded at $1.76. Approximately 432,994 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 2,423,867 shares. The stock had previously closed at $1.68.

Analyst Upgrades and Downgrades

OLPX has been the topic of a number of recent research reports. TD Cowen lifted their price target on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Barclays decreased their price objective on Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a report on Monday. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $3.00 price target on shares of Olaplex in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.30.

Olaplex Stock Up 1.2 %

The company has a market cap of $1.13 billion, a P/E ratio of 28.00 and a beta of 2.47. The company has a quick ratio of 7.85, a current ratio of 9.27 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average of $2.16 and a 200 day moving average of $1.90.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 10.57% and a net margin of 9.78%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, research analysts anticipate that Olaplex Holdings, Inc. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in Olaplex by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,066,027 shares of the company’s stock valued at $2,505,000 after purchasing an additional 102,752 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Olaplex during the third quarter worth about $80,000. Victory Capital Management Inc. raised its holdings in Olaplex by 101.0% during the third quarter. Victory Capital Management Inc. now owns 128,079 shares of the company’s stock worth $301,000 after purchasing an additional 64,370 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in Olaplex in the third quarter valued at about $68,000. Finally, Ballentine Partners LLC purchased a new position in Olaplex in the third quarter valued at about $28,000. 87.37% of the stock is 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.