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

Olaplex Holdings, Inc. (NASDAQ:OLPX) has earned an average rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $2.51.

OLPX has been the topic of a number of recent analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a research note on Thursday, May 2nd. Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $1.25 to $2.00 in a research note on Tuesday, March 19th.

Insider Buying and Selling at Olaplex

In other Olaplex news, VP Kristi A. Belhumeur sold 42,480 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1.68, for a total value of $71,366.40. Following the transaction, the vice president now directly owns 294,553 shares of the company’s stock, valued at $494,849.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its stake in Olaplex by 2,108.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock valued at $26,000 after buying an additional 9,593 shares during the period. Quent Capital LLC raised its position in shares of Olaplex by 2,463.8% during the fourth quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock worth $28,000 after purchasing an additional 10,742 shares during the period. Catalina Capital Group LLC acquired a new position in shares of Olaplex during the first quarter worth approximately $31,000. HB Wealth Management LLC acquired a new position in shares of Olaplex during the fourth quarter worth approximately $35,000. Finally, Waldron Private Wealth LLC raised its position in shares of Olaplex by 62.0% during the fourth quarter. Waldron Private Wealth LLC now owns 16,227 shares of the company’s stock worth $41,000 after purchasing an additional 6,213 shares during the period. 87.37% of the stock is owned by institutional investors and hedge funds.

Olaplex Stock Performance

NASDAQ:OLPX opened at $1.55 on Wednesday. The stock has a market cap of $1.03 billion, a P/E ratio of 22.14 and a beta of 2.41. The company has a current ratio of 10.71, a quick ratio of 9.12 and a debt-to-equity ratio of 0.76. The stock’s 50-day moving average is $1.61 and its 200-day moving average is $1.88. Olaplex has a 1-year low of $1.19 and a 1-year high of $4.27.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $98.90 million for the quarter, compared to analysts’ expectations of $95.15 million. Olaplex had a return on equity of 11.61% and a net margin of 10.91%. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 earnings per share. Equities research analysts anticipate that Olaplex will post 0.14 earnings per share for the current 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.