Olaplex Holdings, Inc. (NASDAQ:OLPX) Receives $2.51 Consensus Target Price from Brokerages

Olaplex Holdings, Inc. (NASDAQ:OLPX) has received an average rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $2.51.

Several research analysts have weighed in on OLPX shares. Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 target price on shares of Olaplex in a report on Thursday, May 2nd. Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $1.25 to $2.00 in a research note on Tuesday, March 19th. Finally, Truist Financial cut their price target on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, March 4th.

Olaplex Trading Down 2.5 %

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. Olaplex has a 12 month low of $1.19 and a 12 month high of $4.27. The company has a market capitalization of $1.02 billion, a PE ratio of 22.00 and a beta of 2.45. The stock has a 50-day simple moving average of $1.60 and a 200 day simple moving average of $1.90.

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

Insider Transactions at Olaplex

In other Olaplex news, VP Kristi A. Belhumeur sold 42,480 shares of the firm’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 completion of the transaction, the vice president now directly owns 294,553 shares in the company, valued at $494,849.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Olaplex

A number of large investors have recently added to or reduced their stakes in the business. Aigen Investment Management LP bought a new position in Olaplex during the 3rd quarter worth $115,000. Hsbc Holdings PLC increased its holdings in Olaplex by 86.5% in the third quarter. Hsbc Holdings PLC now owns 627,989 shares of the company’s stock valued at $1,221,000 after purchasing an additional 291,191 shares during the period. Dark Forest Capital Management LP bought a new position in shares of Olaplex during the third quarter worth about $82,000. Quadrature Capital Ltd lifted its position in shares of Olaplex by 34.6% in the 3rd quarter. Quadrature Capital Ltd now owns 74,057 shares of the company’s stock worth $145,000 after purchasing an additional 19,019 shares during the period. Finally, Citigroup Inc. grew its holdings in Olaplex by 346.6% during the 3rd quarter. Citigroup Inc. now owns 57,045 shares of the company’s stock worth $111,000 after acquiring an additional 44,271 shares during the period. Institutional investors own 87.37% of the company’s stock.

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.