Olaplex (NASDAQ:OLPX) Given New $1.40 Price Target at Barclays

Olaplex (NASDAQ:OLPX - Get Free Report) had its target price raised by analysts at Barclays from $1.20 to $1.40 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective indicates a potential upside of 8.53% from the stock's previous close.

Separately, Telsey Advisory Group reiterated a "market perform" rating and set a $2.00 price target on shares of Olaplex in a report on Friday, May 9th.

Olaplex Price Performance

Shares of OLPX stock remained flat at $1.29 during mid-day trading on Monday. The stock had a trading volume of 955,307 shares, compared to its average volume of 2,156,968. The business has a fifty day moving average price of $1.27 and a two-hundred day moving average price of $1.56. Olaplex has a 12-month low of $1.01 and a 12-month high of $2.77. The stock has a market capitalization of $858.83 million, a P/E ratio of 21.50 and a beta of 2.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84.

Olaplex (NASDAQ:OLPX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.00 EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.02). The company had revenue of $96.98 million during 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%. Olaplex's revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. On average, equities research analysts anticipate that Olaplex will post 0.1 EPS for the current fiscal year.

Insider Activity at Olaplex

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Olaplex by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company's stock valued at $1,861,000 after purchasing an additional 9,661 shares during the period. Belpointe Asset Management LLC lifted its stake 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 valued at $106,000 after purchasing an additional 11,724 shares during the period. MetLife Investment Management LLC increased its position in Olaplex by 20.0% during the 1st quarter. MetLife Investment Management LLC now owns 70,438 shares of the company's stock valued at $89,000 after buying an additional 11,759 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. Finally, Chemistry Wealth Management LLC bought a new position in Olaplex during the 4th quarter valued at approximately $25,000. Hedge funds and other institutional investors 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.