Olaplex (NASDAQ:OLPX) Stock Price Expected to Rise, Barclays Analyst Says

Olaplex (NASDAQ:OLPX) had its price target raised by analysts at Barclays from $1.50 to $1.70 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 8.97% from the stock’s previous close.

OLPX has been the subject of a number of other research reports. Piper Sandler increased their target price on Olaplex from $1.50 to $2.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research note on Tuesday.

Olaplex Price Performance

OLPX stock opened at $1.56 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84. Olaplex has a 1 year low of $1.19 and a 1 year high of $2.77. The firm has a market cap of $1.03 billion, a P/E ratio of 26.00 and a beta of 2.45. The stock has a 50-day simple moving average of $1.55 and a 200-day simple moving average of $1.90.

Institutional Investors Weigh In On Olaplex

A number of hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its holdings in Olaplex by 181.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 24,500,600 shares of the company’s stock worth $42,387,000 after buying an additional 15,800,642 shares during the last quarter. Boston Partners lifted its holdings in Olaplex by 276.0% during the 4th quarter. Boston Partners now owns 6,674,169 shares of the company’s stock worth $11,257,000 after buying an additional 4,899,171 shares during the last quarter. Jane Street Group LLC lifted its holdings in Olaplex by 5,728.5% during the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after buying an additional 2,588,216 shares during the last quarter. Ninety One UK Ltd lifted its holdings in Olaplex by 99.3% during the 4th quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company’s stock worth $7,335,000 after buying an additional 2,112,009 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Olaplex by 162.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company’s stock worth $4,008,000 after buying an additional 1,432,400 shares during 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.