Analysts Set Olaplex Holdings, Inc. (NASDAQ:OLPX) Price Target at $1.92

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

Several brokerages have issued reports on OLPX. Morgan Stanley set a $1.40 target price on shares of Olaplex in a research report on Tuesday, March 10th. Northland Securities lowered shares of Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Jefferies Financial Group restated a “buy” rating on shares of Olaplex in a report on Wednesday, March 4th. Canaccord Genuity Group lowered shares of Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th.

Olaplex Stock Performance

Shares of Olaplex stock opened at $2.03 on Tuesday. Olaplex has a 1 year low of $0.99 and a 1 year high of $2.04. The firm has a market cap of $1.36 billion, a PE ratio of -203.00 and a beta of 2.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.58 and a quick ratio of 4.00. The company has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $1.44.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Thursday, March 5th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Olaplex had a negative net margin of 2.19% and a positive return on equity of 1.07%. The business had revenue of $105.12 million during the quarter, compared to analyst estimates of $104.21 million. During the same period in the previous year, the business posted $0.01 earnings per share. Olaplex’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that Olaplex will post 0.09 earnings per share for the current fiscal year.

Insider Transactions at Olaplex

In other news, General Counsel John C. Duffy sold 34,962 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $44,052.12. Following the completion of the sale, the general counsel directly owned 982,855 shares in the company, valued at approximately $1,238,397.30. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Catherine Dunleavy sold 93,809 shares of the business’s stock in a transaction that occurred on 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 owned 3,026,885 shares of the company’s stock, valued at approximately $3,813,875.10. The trade was a 3.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 215,442 shares of company stock worth $271,457. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Olaplex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning increased its position in Olaplex by 35.0% during the 2nd quarter. Creative Planning now owns 37,357 shares of the company’s stock valued at $52,000 after purchasing an additional 9,690 shares during the period. Intech Investment Management LLC increased its position in Olaplex by 15.8% during the 3rd quarter. Intech Investment Management LLC now owns 74,780 shares of the company’s stock valued at $98,000 after purchasing an additional 10,192 shares during the period. Arizona State Retirement System increased its position in Olaplex by 27.4% during the 3rd quarter. Arizona State Retirement System now owns 49,263 shares of the company’s stock valued at $65,000 after purchasing an additional 10,609 shares during the period. BNP Paribas Financial Markets increased its position in 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 purchasing an additional 14,507 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Olaplex during the 4th quarter valued at $25,000. 87.37% of the stock is currently owned by institutional investors.

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.