Price T Rowe Associates Inc. MD Buys 6,614 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Price T Rowe Associates Inc. MD increased its stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 27.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,957 shares of the company’s stock after purchasing an additional 6,614 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Olaplex were worth $60,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Olaplex by 119,729.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 336,722 shares of the company’s stock worth $855,000 after purchasing an additional 336,441 shares during the last quarter. Simplicity Solutions LLC bought a new stake in Olaplex during the 4th quarter worth approximately $46,000. Greenleaf Trust acquired a new position in Olaplex in the 4th quarter valued at approximately $61,000. Signaturefd LLC raised its stake in shares of Olaplex by 550.2% during the fourth quarter. Signaturefd LLC now owns 28,737 shares of the company’s stock valued at $73,000 after acquiring an additional 24,317 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Olaplex by 282.7% during the fourth quarter. Handelsbanken Fonder AB now owns 48,600 shares of the company’s stock worth $123,000 after purchasing an additional 35,900 shares during the period. Institutional investors own 87.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a report on Tuesday, August 6th. TD Cowen raised 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. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.18.

Olaplex Stock Performance

Shares of OLPX opened at $2.08 on Monday. The firm has a market capitalization of $1.38 billion, a P/E ratio of 29.71 and a beta of 2.42. Olaplex Holdings, Inc. has a 52 week low of $1.19 and a 52 week high of $2.98. The stock has a 50 day moving average price of $1.77 and a two-hundred day moving average price of $1.76. 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 (NASDAQ:OLPX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $103.90 million during the quarter, compared to the consensus estimate of $103.65 million. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. Olaplex’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. Equities analysts forecast that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

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.