Olaplex Holdings, Inc. (NASDAQ:OLPX – Get Rating)’s share price hit a new 52-week low during mid-day trading on Thursday after Piper Sandler lowered their price target on the stock from $21.00 to $19.00. Piper Sandler currently has an overweight rating on the stock. Olaplex traded as low as $11.71 and last traded at $11.88, with a volume of 45185 shares. The stock had previously closed at $12.10.
A number of other brokerages have also issued reports on OLPX. Morgan Stanley dropped their price objective on shares of Olaplex from $19.00 to $17.50 and set an “overweight” rating for the company in a report on Friday, August 12th. The Goldman Sachs Group dropped their price objective on shares of Olaplex from $26.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Cowen dropped their price objective on shares of Olaplex from $33.00 to $22.00 in a report on Thursday, May 12th. Cowen dropped their price objective on shares of Olaplex from $33.00 to $22.00 in a report on Thursday, May 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Olaplex from $23.00 to $21.00 in a report on Thursday, July 21st. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $26.42.
Institutional Trading of Olaplex
Several hedge funds have recently bought and sold shares of OLPX. American International Group Inc. grew its position in Olaplex by 98.6% in the 2nd quarter. American International Group Inc. now owns 1,940 shares of the company’s stock valued at $27,000 after purchasing an additional 963 shares during the period. Captrust Financial Advisors boosted its holdings in Olaplex by 156.2% during the 2nd quarter. Captrust Financial Advisors now owns 1,998 shares of the company’s stock worth $28,000 after acquiring an additional 1,218 shares during the last quarter. First Manhattan Co. boosted its holdings in Olaplex by 6,000.0% during the 1st quarter. First Manhattan Co. now owns 2,135 shares of the company’s stock worth $33,000 after acquiring an additional 2,100 shares during the last quarter. MetLife Investment Management LLC purchased a new position in Olaplex during the 1st quarter worth $36,000. Finally, High Net Worth Advisory Group LLC purchased a new position in Olaplex during the 1st quarter worth $81,000. Institutional investors and hedge funds own 92.31% of the company’s stock.
Olaplex Stock Down 1.7 %
The company has a current ratio of 4.89, a quick ratio of 3.28 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $7.72 billion and a PE ratio of 29.88. The stock’s fifty day simple moving average is $15.25 and its 200-day simple moving average is $15.22.
Olaplex (NASDAQ:OLPX – Get Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $210.90 million for the quarter, compared to the consensus estimate of $200.34 million. Olaplex had a net margin of 38.00% and a return on equity of 59.00%. As a group, sell-side analysts forecast that Olaplex Holdings, Inc. will post 0.54 EPS for the current fiscal year.
About Olaplex
Olaplex Holdings, Inc manufactures and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair. It provides hair care products to professional hair salons, retailers, and everyday consumers. The company was founded in 2014 and is based in Santa Barbara, California.
