Olaplex (NASDAQ:OLPX) Shares Up 6.3% - Time to Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report)'s share price rose 6.3% on Tuesday . The company traded as high as $1.45 and last traded at $1.45. Approximately 834,730 shares changed hands during trading, a decline of 60% from the average daily volume of 2,096,018 shares. The stock had previously closed at $1.36.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Telsey Advisory Group reiterated a "market perform" rating and set a $2.00 price objective on shares of Olaplex in a research report on Friday, May 9th. Barclays boosted their price target on shares of Olaplex from $1.20 to $1.40 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Wall Street Zen cut shares of Olaplex from a "hold" rating to a "sell" rating in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, Olaplex presently has a consensus rating of "Hold" and an average target price of $1.85.

Olaplex Stock Performance

The stock's 50 day moving average is $1.28 and its two-hundred day moving average is $1.47. The firm has a market capitalization of $938.72 million, a P/E ratio of 23.50 and a beta of 2.33. 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 (NASDAQ:OLPX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.02). Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The firm had revenue of $96.98 million for the quarter, compared to the consensus estimate of $93.82 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. The firm's quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olaplex

Several hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its stake in Olaplex by 12.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 27,567,214 shares of the company's stock worth $35,011,000 after buying an additional 3,066,614 shares during the period. Boston Partners increased its position in shares of Olaplex by 276.0% during the fourth quarter. Boston Partners now owns 6,674,169 shares of the company's stock valued at $11,257,000 after buying an additional 4,899,171 shares during the period. Renaissance Technologies LLC boosted its stake in Olaplex by 9.6% during the fourth quarter. Renaissance Technologies LLC now owns 3,076,969 shares of the company's stock valued at $5,323,000 after buying an additional 268,969 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Olaplex by 162.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company's stock worth $4,008,000 after acquiring an additional 1,432,400 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Olaplex by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company's stock worth $1,861,000 after buying an additional 9,661 shares during the last quarter. Institutional investors and hedge funds 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.

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