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

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating reaffirmed by equities researchers at Telsey Advisory Group in a research report issued on Thursday, Benzinga reports. They presently have a $3.00 price objective on the stock. Telsey Advisory Group’s price target would suggest a potential upside of 106.03% from the stock’s previous close.

Separately, TD Cowen lifted their target price on shares of Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.42.

Olaplex Price Performance

NASDAQ OLPX opened at $1.46 on Thursday. 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 stock has a market capitalization of $963.91 million, a PE ratio of 20.80 and a beta of 2.47. The company has a 50 day moving average price of $2.18 and a two-hundred day moving average price of $1.89. Olaplex has a 12-month low of $1.19 and a 12-month high of $2.98.

Olaplex (NASDAQ:OLPX) last posted its earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $103.90 million during the quarter, compared to analysts’ expectations of $103.65 million. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. As a group, equities analysts predict that Olaplex will post 0.14 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John P. Bilbrey purchased 183,493 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were bought at an average price of $2.05 per share, with a total value of $376,160.65. Following the completion of the transaction, the director now directly owns 241,593 shares in the company, valued at $495,265.65. This trade represents a 300.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Institutional investors have recently modified their holdings of the company. Ballentine Partners LLC bought a new position in Olaplex during the third quarter worth $28,000. Quarry LP bought a new position in Olaplex during the second quarter worth $33,000. Catalina Capital Group LLC increased its position in Olaplex by 51.3% during the second quarter. Catalina Capital Group LLC now owns 24,088 shares of the company’s stock worth $37,000 after acquiring an additional 8,172 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Olaplex by 38.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock worth $40,000 after acquiring an additional 7,235 shares during the period. Finally, SG Americas Securities LLC bought a new position in Olaplex during the second quarter worth $43,000. Institutional investors own 87.37% of the company’s stock.

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.