Barclays downgraded shares of Olaplex (NASDAQ:OLPX – Get Rating) from an overweight rating to an equal weight rating in a research note published on Wednesday morning, Marketbeat reports. Barclays currently has $16.00 price objective on the stock, down from their prior price objective of $17.00.
Several other brokerages have also recently weighed in on OLPX. Cowen dropped their price objective on Olaplex from $33.00 to $22.00 in a research note on Thursday, May 12th. Cowen lowered their target price on Olaplex from $33.00 to $22.00 in a research note on Thursday, May 12th. Raymond James lowered their target price on Olaplex from $28.00 to $24.00 and set a strong-buy rating on the stock in a research note on Monday, April 18th. Piper Sandler lowered their target price on Olaplex from $26.00 to $24.00 and set an overweight rating on the stock in a research note on Thursday, June 16th. Finally, JPMorgan Chase & Co. lowered their target price on Olaplex from $23.00 to $21.00 in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $28.85.
Olaplex Price Performance
Shares of NASDAQ:OLPX opened at $16.26 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.68 and a current ratio of 4.11. The stock’s fifty day simple moving average is $15.65 and its two-hundred day simple moving average is $16.16. Olaplex has a 1-year low of $11.73 and a 1-year high of $30.41.
Institutional Investors Weigh In On Olaplex
Several large investors have recently added to or reduced their stakes in OLPX. Norges Bank purchased a new stake in Olaplex in the 4th quarter worth about $225,203,000. Pictet Asset Management SA purchased a new position in Olaplex during the 4th quarter valued at about $78,636,000. Banco Santander S.A. purchased a new position in Olaplex during the 1st quarter valued at about $41,576,000. TimesSquare Capital Management LLC grew its holdings in Olaplex by 89.6% during the 1st quarter. TimesSquare Capital Management LLC now owns 3,380,000 shares of the company’s stock valued at $52,829,000 after buying an additional 1,597,700 shares in the last quarter. Finally, CI Investments Inc. grew its holdings in Olaplex by 1,079.8% during the 1st quarter. CI Investments Inc. now owns 955,630 shares of the company’s stock valued at $14,936,000 after buying an additional 874,630 shares in the last quarter. Hedge funds and other institutional investors own 91.10% of the company’s stock.
Olaplex Company Profile
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.
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