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

Olaplex Holdings, Inc. (NASDAQ:OLPX) has been given a consensus rating of “Hold” by the seven analysts that are covering the stock, MarketBeat reports. One equities research 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 twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $1.9229.

Several research analysts recently weighed in on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Olaplex in a research report on Wednesday, March 4th. Canaccord Genuity Group cut Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Morgan Stanley set a $1.40 price objective on Olaplex in a 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. Finally, Telsey Advisory Group boosted their price target 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.

Olaplex Trading Up 0.5%

Olaplex stock opened at $2.05 on Wednesday. The stock has a 50-day moving average price of $2.04 and a 200 day moving average price of $1.68. The company has a quick ratio of 5.34, a current ratio of 6.27 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -102.50 and a beta of 1.86. Olaplex has a 52 week low of $0.99 and a 52 week high of $2.06.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $99.37 million during the quarter, compared to analysts’ expectations of $94.11 million. Olaplex had a positive return on equity of 2.23% and a negative net margin of 3.53%.The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Olaplex will post 0.09 EPS for the current year.

Insider Buying and Selling

In related news, insider Trisha L. Fox sold 16,324 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $2.04, for a total value of $33,300.96. Following the completion of the sale, the insider owned 1,064,039 shares of the company’s stock, valued at approximately $2,170,639.56. The trade was a 1.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 4.80% of the company’s stock.

Institutional Trading of Olaplex

Several large investors have recently made changes to their positions in the company. Abel Hall LLC increased its position in shares of Olaplex by 44.6% during the first quarter. Abel Hall LLC now owns 28,663 shares of the company’s stock worth $58,000 after purchasing an additional 8,845 shares in the last quarter. Creative Planning boosted its stake in Olaplex by 35.0% during the second quarter. Creative Planning now owns 37,357 shares of the company’s stock worth $52,000 after buying an additional 9,690 shares during the last quarter. Intech Investment Management LLC boosted its stake in Olaplex by 15.8% during the third quarter. Intech Investment Management LLC now owns 74,780 shares of the company’s stock worth $98,000 after buying an additional 10,192 shares during the last quarter. Arizona State Retirement System boosted its stake in Olaplex by 27.4% during the third quarter. Arizona State Retirement System now owns 49,263 shares of the company’s stock worth $65,000 after buying an additional 10,609 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Olaplex by 95.4% during the third quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock worth $39,000 after buying an additional 14,507 shares during the last quarter. 87.37% of the stock is currently owned by hedge funds and other 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.