Piper Sandler Forecasts Strong Price Appreciation for Olaplex (NASDAQ:OLPX) Stock

Olaplex (NASDAQ:OLPX) had its price objective upped by stock analysts at Piper Sandler from $1.50 to $2.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 24.22% from the stock’s previous close.

OLPX has been the topic of a number of other reports. Barclays dropped their price objective on Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Olaplex has a consensus rating of “Hold” and a consensus price target of $2.30.

Olaplex Stock Down 3.0 %

Shares of OLPX stock opened at $1.61 on Monday. The stock’s 50 day simple moving average is $1.88 and its 200 day simple moving average is $1.98. Olaplex has a twelve month low of $1.19 and a twelve month high of $2.77. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 26.84 and a beta of 2.47.

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 analysts’ consensus estimates of $0.04. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The business had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $126.51 million. During the same period in the previous year, the company earned $0.05 earnings per share. Olaplex’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, research analysts predict that Olaplex will post 0.11 EPS for the current year.

Insider Transactions at Olaplex

In other news, Director John P. Bilbrey bought 25,128 shares of Olaplex stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $1.76 per share, with a total value of $44,225.28. Following the completion of the transaction, the director now directly owns 266,721 shares in the company, valued at $469,428.96. This trade represents a 10.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Olaplex

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. increased its stake in Olaplex by 42.0% in the second quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock valued at $30,317,000 after acquiring an additional 5,824,889 shares during the period. Geode Capital Management LLC grew its stake in shares of Olaplex by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock valued at $8,717,000 after purchasing an additional 468,570 shares during the period. Jane Street Group LLC raised its holdings in shares of Olaplex by 5,728.5% in the 3rd 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. Renaissance Technologies LLC lifted its position in shares of Olaplex by 0.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company’s stock worth $3,852,000 after buying an additional 14,200 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Olaplex by 20.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,073,878 shares of the company’s stock valued at $1,654,000 after buying an additional 184,091 shares in the last quarter. Institutional investors and hedge funds 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.