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

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $2.51.

A number of brokerages have issued reports on OLPX. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research report on Thursday, May 2nd. Truist Financial decreased their price target on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Finally, Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $1.25 to $2.00 in a research report on Tuesday, March 19th.

Olaplex Stock Performance

Shares of NASDAQ:OLPX opened at $1.54 on Wednesday. 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 company has a market cap of $1.02 billion, a price-to-earnings ratio of 22.00 and a beta of 2.45. Olaplex has a 12 month low of $1.19 and a 12 month high of $4.27. The company has a 50-day moving average price of $1.60 and a 200-day moving average price of $1.90.

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

Insider Activity

In related news, VP Kristi A. Belhumeur sold 42,480 shares of the company’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 sale, the vice president now owns 294,553 shares in the company, valued at approximately $494,849.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OLPX. Pacer Advisors Inc. grew its holdings in shares of Olaplex by 34.8% during the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after buying an additional 2,124,323 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Olaplex during the 4th quarter valued at $3,996,000. Vanguard Group Inc. increased its holdings in shares of Olaplex by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after purchasing an additional 929,693 shares in the last quarter. Sanders Morris Harris LLC purchased a new position in shares of Olaplex in the first quarter worth $660,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Olaplex by 119,729.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 336,722 shares of the company’s stock worth $855,000 after purchasing an additional 336,441 shares during the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

Olaplex Company Profile

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.