Barclays Lowers Olaplex (NASDAQ:OLPX) Price Target to $1.50

Olaplex (NASDAQ:OLPX) had its target price cut by Barclays from $2.00 to $1.50 in a research report report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts also recently commented on OLPX. TD Cowen increased their price objective on Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Telsey Advisory Group reissued a “market perform” rating and set a $3.00 target price on shares of Olaplex in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Olaplex currently has an average rating of “Hold” and a consensus price target of $2.30.

Olaplex Stock Performance

NASDAQ:OLPX opened at $1.71 on Monday. The stock’s 50-day moving average is $2.16 and its 200-day moving average is $1.90. Olaplex has a 1-year low of $1.19 and a 1-year high of $2.98. The company has a current ratio of 9.27, a quick ratio of 7.85 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.13 billion, a P/E ratio of 28.00 and a beta of 2.47.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $119.10 million for the quarter, compared to the consensus estimate of $126.51 million. Olaplex had a return on equity of 10.57% and a net margin of 9.78%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. Equities research analysts anticipate that Olaplex will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Olaplex

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

Institutional Investors Weigh In On Olaplex

Several hedge funds have recently added to or reduced their stakes in OLPX. Pacer Advisors Inc. raised its holdings in shares of Olaplex by 42.0% during the 2nd quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock valued at $30,317,000 after buying an additional 5,824,889 shares in the last quarter. Scion Asset Management LLC purchased a new position in Olaplex in the 2nd quarter worth $1,533,000. Vanguard Group Inc. boosted its holdings in Olaplex by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock valued at $22,915,000 after acquiring an additional 929,693 shares during the period. Allspring Global Investments Holdings LLC grew its position in Olaplex by 49,511.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 269,392 shares of the company’s stock worth $633,000 after acquiring an additional 268,849 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Olaplex by 29.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock worth $1,451,000 after purchasing an additional 212,129 shares during the period. Institutional investors own 87.37% of the company’s stock.

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.