Olaplex (NASDAQ:OLPX) Receives "Market Perform" Rating from Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Olaplex (NASDAQ:OLPX - Free Report) in a research note published on Friday,Benzinga reports. They currently have a $2.00 price objective on the stock.

Separately, Barclays boosted their target price on Olaplex from $1.50 to $1.70 and gave the company an "equal weight" rating in a research note on Wednesday, March 5th.

Olaplex Stock Performance

OLPX traded up $0.04 during midday trading on Friday, reaching $1.32. The company's stock had a trading volume of 684,334 shares, compared to its average volume of 2,154,221. The company has a fifty day simple moving average of $1.29 and a 200 day simple moving average of $1.57. Olaplex has a twelve month low of $1.01 and a twelve month high of $2.77. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The stock has a market cap of $875.47 million, a P/E ratio of 21.92 and a beta of 2.37.

Olaplex (NASDAQ:OLPX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.02). The company had revenue of $96.98 million for the quarter, compared to analyst estimates of $93.82 million. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The business's revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. Research analysts expect that Olaplex will post 0.1 earnings per share for the current year.

Insider Buying and Selling at Olaplex

In related news, insider Trisha L. Fox sold 26,526 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $38,197.44. Following the sale, the insider now owns 461,548 shares in the company, valued at $664,629.12. This represents a 5.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel John C. Duffy sold 35,013 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $1.44, for a total transaction of $50,418.72. Following the sale, the general counsel now directly owns 348,630 shares of the company's stock, valued at $502,027.20. This trade represents a 9.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,269 shares of company stock worth $103,161 over the last three months. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Olaplex

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Olaplex by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company's stock valued at $1,861,000 after acquiring an additional 9,661 shares during the period. Belpointe Asset Management LLC raised its position in shares of Olaplex by 23.6% in the 4th quarter. Belpointe Asset Management LLC now owns 61,461 shares of the company's stock worth $106,000 after acquiring an additional 11,724 shares in the last quarter. ProShare Advisors LLC increased its position in Olaplex by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 39,052 shares of the company's stock valued at $68,000 after buying an additional 12,852 shares in the last quarter. Chemistry Wealth Management LLC purchased a new position in Olaplex in the 4th quarter worth $25,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Olaplex by 290.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company's stock worth $37,000 after acquiring an additional 15,911 shares during the period. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

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.