Olaplex (NASDAQ:OLPX) Price Target Raised to $1.40 at Barclays

Olaplex (NASDAQ:OLPX - Get Free Report) had its target price upped by equities researchers at Barclays from $1.20 to $1.40 in a research report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective would suggest a potential upside of 4.09% from the company's previous close.

Separately, Telsey Advisory Group reiterated a "market perform" rating and issued a $2.00 price objective on shares of Olaplex in a report on Friday.

Olaplex Price Performance

Shares of NASDAQ OLPX traded up $0.08 during mid-day trading on Monday, hitting $1.35. 1,013,810 shares of the stock traded hands, compared to its average volume of 2,150,152. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. Olaplex has a twelve month low of $1.01 and a twelve month high of $2.77. The company has a market cap of $895.44 million, a PE ratio of 22.42 and a beta of 2.37. The firm has a 50 day simple moving average of $1.30 and a two-hundred day simple moving average of $1.58.

Insider Buying and Selling

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

Institutional Investors Weigh In On Olaplex

Institutional investors have recently modified their holdings of the company. Chemistry Wealth Management LLC bought a new stake in Olaplex during the fourth quarter valued at $25,000. Teacher Retirement System of Texas bought a new stake in shares of Olaplex during the 1st quarter valued at about $25,000. Hsbc Holdings PLC bought a new stake in shares of Olaplex during the 4th quarter valued at about $34,000. BNP Paribas Financial Markets bought a new stake in shares of Olaplex during the 4th quarter valued at about $35,000. Finally, Cornerstone Wealth Management LLC bought a new stake in Olaplex in the fourth quarter worth approximately $36,000. 87.37% of the stock is owned by 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.

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