Barclays Issues Pessimistic Forecast for Olaplex (NASDAQ:OLPX) Stock Price

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

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

Olaplex Trading Up 0.6 %

Shares of OLPX stock opened at $1.76 on Monday. Olaplex has a 1-year low of $1.19 and a 1-year high of $2.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 7.85. The business’s fifty day moving average price is $2.12 and its 200 day moving average price is $1.90. The firm has a market capitalization of $1.17 billion, a PE ratio of 29.34 and a beta of 2.47.

Olaplex (NASDAQ:OLPX) last issued its earnings results 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 net margin of 9.78% and a return on equity of 10.50%. The company had revenue of $119.10 million for the quarter, compared to analyst estimates of $126.51 million. During the same period in the prior year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Olaplex will post 0.11 EPS for the current fiscal year.

Insider Activity

In related news, Director John P. Bilbrey purchased 183,493 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased 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 owns 241,593 shares of the company’s stock, valued at approximately $495,265.65. This trade represents a 315.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Olaplex

Institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. acquired a new position in shares of Olaplex in the 3rd quarter valued at about $395,000. MetLife Investment Management LLC lifted its position in Olaplex by 56.4% during the third quarter. MetLife Investment Management LLC now owns 57,903 shares of the company’s stock valued at $136,000 after buying an additional 20,891 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Olaplex during the third quarter worth approximately $141,000. Charles Schwab Investment Management Inc. increased its position in shares of Olaplex by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,066,027 shares of the company’s stock worth $2,505,000 after acquiring an additional 102,752 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Olaplex in the 3rd quarter valued at $80,000. 87.37% of the stock is owned by hedge funds and other institutional investors.

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.