Olaplex Holdings, Inc. (NASDAQ:OLPX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have earned a consensus rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $1.9229.

A number of equities research analysts have commented on OLPX shares. Canaccord Genuity Group cut shares of Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Morgan Stanley set a $1.40 price target on shares of Olaplex in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a research report on Tuesday, April 21st. Barclays lifted their price objective on shares of Olaplex from $1.75 to $2.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 14th. Finally, Zacks Research raised shares of Olaplex from a “strong sell” rating to a “hold” rating in a research report on Tuesday.

Olaplex Price Performance

Shares of NASDAQ:OLPX opened at $2.03 on Friday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -101.50 and a beta of 1.87. The company has a debt-to-equity ratio of 0.40, a current ratio of 6.27 and a quick ratio of 4.00. The firm has a 50 day simple moving average of $1.81 and a 200 day simple moving average of $1.52. Olaplex has a one year low of $0.99 and a one year high of $2.04.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Monday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $99.37 million during the quarter, compared to the consensus estimate of $94.11 million. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The business’s revenue was up 2.5% compared to the same quarter last year. Research analysts predict that Olaplex will post 0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Olaplex news, General Counsel John C. Duffy sold 34,962 shares of Olaplex stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $44,052.12. Following the sale, the general counsel owned 982,855 shares of the company’s stock, valued at approximately $1,238,397.30. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Catherine Dunleavy sold 93,809 shares of Olaplex stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $1.26, for a total transaction of $118,199.34. Following the completion of the sale, the chief financial officer directly owned 3,026,885 shares in the company, valued at approximately $3,813,875.10. This represents a 3.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 215,442 shares of company stock valued at $271,457. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Olaplex

Institutional investors have recently modified their holdings of the business. Portolan Capital Management LLC lifted its stake in shares of Olaplex by 132.6% during the 3rd quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock valued at $4,762,000 after buying an additional 2,072,383 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Olaplex by 95.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after buying an additional 14,507 shares in the last quarter. Abel Hall LLC purchased a new stake in shares of Olaplex during the 4th quarter valued at approximately $27,000. Hsbc Holdings PLC increased its holdings in Olaplex by 271.7% during the 1st quarter. Hsbc Holdings PLC now owns 73,882 shares of the company’s stock worth $150,000 after acquiring an additional 54,003 shares during the period. Finally, Gabelli Funds LLC bought a new stake in Olaplex during the 1st quarter worth approximately $998,000. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

Olaplex Company Profile

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.