Olaplex’s (OLPX) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating reissued by equities researchers at Telsey Advisory Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $3.00 price target on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 75.44% from the stock’s current price.

Separately, TD Cowen raised their price objective on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Four 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 presently has a consensus rating of “Hold” and a consensus target price of $2.42.

Olaplex Price Performance

Shares of OLPX traded up $0.09 during midday trading on Thursday, reaching $1.71. The stock had a trading volume of 4,008,168 shares, compared to its average volume of 1,774,008. The company’s 50-day moving average is $2.16 and its 200 day moving average is $1.89. Olaplex has a 12-month low of $1.19 and a 12-month 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 company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 24.43 and a beta of 2.47.

Olaplex (NASDAQ:OLPX) last released 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. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The business had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $126.51 million. During the same quarter last year, the business posted $0.05 EPS. The business’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts predict that Olaplex will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John P. Bilbrey purchased 183,493 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was acquired at an average price of $2.05 per share, with a total value of $376,160.65. Following the purchase, the director now directly owns 241,593 shares in the company, valued at approximately $495,265.65. This represents a 300.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Olaplex

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ballentine Partners LLC purchased a new position in shares of Olaplex in the 3rd quarter valued at $28,000. Quarry LP acquired a new position in shares of Olaplex during the 2nd quarter worth $33,000. Catalina Capital Group LLC grew its stake in shares of Olaplex by 51.3% during the 2nd quarter. Catalina Capital Group LLC now owns 24,088 shares of the company’s stock worth $37,000 after purchasing an additional 8,172 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Olaplex by 38.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock worth $40,000 after buying an additional 7,235 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Olaplex in the 2nd quarter valued at about $43,000. 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.