Olaplex (NASDAQ:OLPX) Shares Up 16.8%

Olaplex Holdings, Inc. (NASDAQ:OLPX) shot up 16.8% during trading on Thursday . The company traded as high as $1.64 and last traded at $1.64. 1,211,445 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 2,037,011 shares. The stock had previously closed at $1.40.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OLPX. Truist Financial dropped their price objective on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Piper Sandler upgraded shares of Olaplex from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $1.25 to $2.00 in a research note on Tuesday, March 19th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research note on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.59.

Olaplex Stock Up 17.5 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 10.92 and a quick ratio of 9.21. The firm’s 50-day moving average is $1.68 and its 200 day moving average is $1.96. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 18.17 and a beta of 2.34.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The firm had revenue of $111.72 million during the quarter, compared to analyst estimates of $108.29 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. Olaplex’s revenue for the quarter was down 14.5% compared to the same quarter last year. Sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olaplex

Several large investors have recently made changes to their positions in OLPX. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Olaplex by 99.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,895 shares of the company’s stock worth $80,000 after acquiring an additional 20,383 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Olaplex by 579.2% in the third quarter. Panagora Asset Management Inc. now owns 296,499 shares of the company’s stock worth $578,000 after acquiring an additional 252,848 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Olaplex in the third quarter worth $36,000. Victory Capital Management Inc. increased its position in shares of Olaplex by 311.7% in the third quarter. Victory Capital Management Inc. now owns 55,598 shares of the company’s stock worth $108,000 after acquiring an additional 42,093 shares in the last quarter. Finally, Pathstone Family Office LLC increased its position in shares of Olaplex by 95.1% in the third quarter. Pathstone Family Office LLC now owns 26,287 shares of the company’s stock worth $51,000 after acquiring an additional 12,813 shares in 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.