Olaplex (NASDAQ:OLPX) Issues Quarterly Earnings Results

Olaplex (NASDAQ:OLPXGet Rating) posted its earnings results on Wednesday. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02, MarketWatch Earnings reports. Olaplex updated its FY 2022 guidance to EPS.

Shares of NASDAQ OLPX opened at $13.80 on Friday. The business’s 50 day moving average price is $14.95 and its 200 day moving average price is $20.68. Olaplex has a 52 week low of $11.73 and a 52 week high of $30.41. The company has a current ratio of 4.60, a quick ratio of 3.25 and a debt-to-equity ratio of 1.41.

Several research firms have issued reports on OLPX. Morgan Stanley cut their target price on Olaplex from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, March 10th. Jefferies Financial Group upgraded Olaplex from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, February 23rd. Zacks Investment Research lowered Olaplex from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays upgraded Olaplex from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $29.00 to $17.00 in a research note on Wednesday, March 9th. Finally, Cowen dropped their price target on Olaplex from $33.00 to $22.00 in a research note on Thursday. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $28.71.

In other news, CFO Eric Tiziani bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The shares were purchased at an average price of $14.78 per share, for a total transaction of $295,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A number of large investors have recently made changes to their positions in the business. UBS Group AG acquired a new position in Olaplex in the third quarter valued at approximately $25,000. Rhumbline Advisers lifted its holdings in Olaplex by 2.4% in the first quarter. Rhumbline Advisers now owns 62,830 shares of the company’s stock valued at $982,000 after acquiring an additional 1,456 shares during the period. MetLife Investment Management LLC acquired a new position in Olaplex in the first quarter valued at approximately $36,000. Metropolitan Life Insurance Co NY acquired a new position in Olaplex in the fourth quarter valued at approximately $68,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Olaplex by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 163,111 shares of the company’s stock valued at $2,550,000 after acquiring an additional 3,004 shares during the period. 91.10% of the stock is owned by institutional investors.

About Olaplex (Get Rating)

Olaplex Holdings, Inc manufactures and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair. It provides hair care products to professional hair salons, retailers, and everyday consumers. The company was founded in 2014 and is based in Santa Barbara, California.

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