Olaplex Holdings, Inc. (NASDAQ:OLPX) Receives Average Recommendation of “Hold” from Brokerages

Olaplex Holdings, Inc. (NASDAQ:OLPX) has received an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $1.9229.

Several brokerages recently weighed in on OLPX. Telsey Advisory Group upped their target price on shares of Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a report on Friday, March 27th. Morgan Stanley set a $1.40 price objective on Olaplex in a research report on Tuesday, March 10th. Canaccord Genuity Group lowered Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a research report on Tuesday, April 21st. Finally, Barclays increased their target price on Olaplex from $1.75 to $2.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 14th.

Olaplex Price Performance

Shares of NASDAQ:OLPX opened at $2.07 on Friday. The firm’s 50 day simple moving average is $2.04 and its two-hundred day simple moving average is $1.75. The company has a debt-to-equity ratio of 0.40, a current ratio of 6.27 and a quick ratio of 5.34. The company has a market capitalization of $1.39 billion, a P/E ratio of -103.50 and a beta of 1.85. Olaplex has a 1-year low of $0.99 and a 1-year high of $2.09.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $99.37 million for 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%. Olaplex’s revenue was up 2.5% compared to the same quarter last year. Research analysts expect that Olaplex will post 0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Olaplex news, insider Trisha L. Fox sold 16,324 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $2.04, for a total value of $33,300.96. Following the completion of the transaction, the insider directly owned 1,064,039 shares in the company, valued at $2,170,639.56. This represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Olaplex

Several hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new position in shares of Olaplex during the first quarter worth $36,000. Headlands Technologies LLC bought a new stake in Olaplex in the 4th quarter valued at $25,000. Abel Hall LLC purchased a new stake in Olaplex in the 4th quarter worth $27,000. Schonfeld Strategic Advisors LLC purchased a new stake in Olaplex in the 3rd quarter worth $30,000. Finally, Optiver Holding B.V. boosted its holdings in shares of Olaplex by 999.5% during the 1st quarter. Optiver Holding B.V. now owns 24,123 shares of the company’s stock valued at $49,000 after purchasing an additional 21,929 shares during the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

About Olaplex

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.