Telsey Advisory Group Reiterates Market Perform Rating for Olaplex (NASDAQ:OLPX)

Telsey Advisory Group reissued their market perform rating on shares of Olaplex (NASDAQ:OLPX) in a report published on Thursday, Benzinga reports. They currently have a $3.00 price objective on the stock.

Separately, TD Cowen increased their price objective on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a report 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, the company has a consensus rating of “Hold” and an average target price of $2.42.

Olaplex Price Performance

Shares of OLPX opened at $1.85 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 7.85 and a current ratio of 9.27. The firm has a market cap of $1.22 billion, a PE ratio of 26.43 and a beta of 2.47. The firm’s 50 day moving average price is $2.21 and its 200 day moving average price is $1.88. Olaplex has a twelve month low of $1.19 and a twelve month high of $2.98.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $103.90 million for the quarter, compared to the consensus estimate of $103.65 million. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. Olaplex’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. As a group, research analysts expect that Olaplex will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling at Olaplex

In other Olaplex news, Director John P. Bilbrey bought 183,493 shares of the stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $2.05 per share, with a total value of $376,160.65. Following the acquisition, the director now directly owns 241,593 shares of the company’s stock, valued at $495,265.65. This represents a 300.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Olaplex

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Olaplex by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after purchasing an additional 929,693 shares in the last quarter. Bank of New York Mellon Corp raised its position in Olaplex by 29.1% in the second quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock worth $1,451,000 after purchasing an additional 212,129 shares in the last quarter. Scion Asset Management LLC bought a new position in Olaplex during the second quarter worth about $1,533,000. Quadrature Capital Ltd boosted its holdings in Olaplex by 50.4% during the first quarter. Quadrature Capital Ltd now owns 88,206 shares of the company’s stock valued at $170,000 after purchasing an additional 29,545 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Olaplex by 126.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 80,843 shares of the company’s stock valued at $124,000 after purchasing an additional 45,133 shares during the period. 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.