Analysts 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 brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $1.9229.

OLPX has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a research note on Tuesday, April 21st. Barclays boosted their price objective on shares of Olaplex from $1.75 to $2.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 14th. Canaccord Genuity Group downgraded Olaplex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Telsey Advisory Group raised their target price on Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a research report on Friday, March 27th. Finally, Zacks Research raised Olaplex from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th.

Insider Transactions at Olaplex

In other news, insider Trisha L. Fox sold 16,324 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $2.04, for a total value of $33,300.96. Following the transaction, the insider directly owned 1,064,039 shares of the company’s stock, valued at $2,170,639.56. The trade was a 1.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.80% of the stock is currently owned by insiders.

Institutional Trading of Olaplex

Several hedge funds have recently bought and sold shares of OLPX. Portolan Capital Management LLC increased its stake in shares of Olaplex by 132.6% in the third quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock worth $4,762,000 after purchasing an additional 2,072,383 shares in the last quarter. Credit Industriel ET Commercial purchased a new stake in shares of Olaplex during the 1st quarter valued at approximately $989,000. Abel Hall LLC bought a new position in Olaplex in the 4th quarter worth approximately $27,000. Headlands Technologies LLC bought a new position in Olaplex in the 4th quarter worth approximately $25,000. Finally, Bank of New York Mellon Corp grew its stake in Olaplex by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 666,886 shares of the company’s stock valued at $1,354,000 after buying an additional 21,085 shares in the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

Olaplex Stock Performance

Olaplex stock opened at $2.07 on Friday. 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 stock has a market cap of $1.39 billion, a PE ratio of -103.50 and a beta of 1.85. Olaplex has a 12-month low of $0.99 and a 12-month high of $2.09. The business’s 50-day moving average price is $2.05 and its two-hundred day moving average price is $1.77.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates 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 revenue was up 2.5% compared to the same quarter last year. As a group, analysts expect that Olaplex will post 0.09 earnings per share for the current fiscal year.

Olaplex Company Profile

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.