Barclays Has Lowered Expectations for Olaplex (NASDAQ:OLPX) Stock Price

Olaplex (NASDAQ:OLPX) had its price target decreased by investment analysts at Barclays from $2.00 to $1.50 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential downside of 11.76% from the company’s current price.

OLPX has been the subject of several other reports. TD Cowen upped their price objective on Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Telsey Advisory Group restated a “market perform” rating and issued a $3.00 target price on shares of Olaplex in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.30.

Olaplex Stock Performance

Shares of OLPX stock opened at $1.70 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 7.85 and a current ratio of 9.27. Olaplex has a 52 week low of $1.19 and a 52 week high of $2.98. The company’s 50 day moving average price is $2.15 and its two-hundred day moving average price is $1.90. The company has a market capitalization of $1.13 billion, a P/E ratio of 28.33 and a beta of 2.47.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $119.10 million for the quarter, compared to analyst estimates of $126.51 million. Olaplex had a net margin of 9.78% and a return on equity of 10.57%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $0.05 earnings per share. On average, analysts expect that Olaplex will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Olaplex

In related news, Director John P. Bilbrey purchased 183,493 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was purchased at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the completion of the purchase, the director now directly owns 241,593 shares in the company, valued at $495,265.65. This trade represents a 300.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Olaplex

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ballentine Partners LLC bought a new stake in Olaplex during the third quarter worth $28,000. Quarry LP bought a new stake in shares of Olaplex in the 2nd quarter valued at about $33,000. Catalina Capital Group LLC lifted its stake in Olaplex by 51.3% in the 2nd quarter. Catalina Capital Group LLC now owns 24,088 shares of the company’s stock valued at $37,000 after purchasing an additional 8,172 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Olaplex by 38.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock worth $40,000 after purchasing an additional 7,235 shares during the period. Finally, Walleye Trading LLC acquired a new position in Olaplex during the first quarter worth approximately $53,000. 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.