Telsey Advisory Group Predicts Reduced Earnings for Olaplex

Olaplex Holdings, Inc. (NASDAQ:OLPX) – Investment analysts at Telsey Advisory Group dropped their FY2024 earnings per share (EPS) estimates for Olaplex in a research note issued to investors on Friday, November 8th. Telsey Advisory Group analyst D. Telsey now forecasts that the company will post earnings per share of $0.11 for the year, down from their prior estimate of $0.14. Telsey Advisory Group currently has a “Market Perform” rating and a $3.00 price objective on the stock. The consensus estimate for Olaplex’s current full-year earnings is $0.13 per share. Telsey Advisory Group also issued estimates for Olaplex’s Q4 2024 earnings at $0.01 EPS and FY2025 earnings at $0.13 EPS.

Separately, TD Cowen raised their price target on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a report on Wednesday, August 7th.

Olaplex Stock Performance

NASDAQ:OLPX opened at $1.71 on Monday. The stock has a market capitalization of $1.13 billion, a P/E ratio of 28.50 and a beta of 2.47. The company has a current ratio of 9.27, a quick ratio of 7.85 and a debt-to-equity ratio of 0.75. Olaplex has a 1 year low of $1.19 and a 1 year high of $2.98. The firm has a 50 day moving average of $2.16 and a 200-day moving average of $1.90.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $119.10 million during the quarter, compared to the consensus estimate of $126.51 million. Olaplex had a net margin of 9.78% and a return on equity of 10.57%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS.

Insider Buying and Selling

In other news, Director John P. Bilbrey acquired 183,493 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the transaction, the director now owns 241,593 shares of the company’s stock, valued at approximately $495,265.65. This represents a 300.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Olaplex by 8.4% during the first quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after buying an additional 929,693 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Olaplex by 29.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock valued at $1,451,000 after acquiring an additional 212,129 shares during the last quarter. Scion Asset Management LLC bought a new stake in shares of Olaplex during the 2nd quarter valued at $1,533,000. Quadrature Capital Ltd lifted its stake in shares of Olaplex by 50.4% in the 1st quarter. Quadrature Capital Ltd now owns 88,206 shares of the company’s stock valued at $170,000 after purchasing an additional 29,545 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Olaplex by 126.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 80,843 shares of the company’s stock worth $124,000 after purchasing an additional 45,133 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors and hedge funds.

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.