Olaplex Holdings, Inc. (NASDAQ:OLPX) Given Average Rating of "Hold" by Brokerages

Key Points

• Olaplex currently has an average analyst rating of “Hold”, with 5 of 7 covering firms assigning hold ratings and a consensus 12-month price target of about $1.92.
• Several recent analyst moves were mixed, including target-price increases from Evercore and Telsey Advisory Group, while Northland Securities and Canaccord Genuity both downgraded the stock to hold.
• Insider activity has leaned negative, with CFO Catherine Dunleavy and General Counsel John C. Duffy both selling shares in March; institutional investors still own 87.37% of the company.

Olaplex Holdings, Inc. (NASDAQ:OLPX - Get Free Report) has earned an average recommendation of "Hold" from the seven research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $1.9229.

A number of research firms recently issued reports on OLPX. Evercore set a $2.50 target price on Olaplex in a research report on Friday, March 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Olaplex in a research report on Tuesday, April 21st. Telsey Advisory Group lifted their target price on Olaplex from $2.00 to $2.06 and gave the company a "market perform" rating in a research report on Friday, March 27th. Northland Securities downgraded Olaplex from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Finally, Canaccord Genuity Group downgraded Olaplex from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th.

Insider Buying and Selling

In related news, CFO Catherine Dunleavy sold 93,809 shares of Olaplex stock in a transaction dated 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 transaction, the chief financial officer owned 3,026,885 shares in the company, valued at approximately $3,813,875.10. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel John C. Duffy sold 34,962 shares of Olaplex stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $1.26, for a total value of $44,052.12. Following the transaction, the general counsel owned 982,855 shares of the company's stock, valued at $1,238,397.30. The trade was a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 170,516 shares of company stock worth $227,583. Company insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Olaplex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Abel Hall LLC grew its holdings in 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 during the period. Creative Planning grew its holdings 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 purchasing an additional 9,690 shares during the period. Intech Investment Management LLC boosted its holdings in shares of 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 acquiring an additional 10,192 shares during the period. Arizona State Retirement System boosted its holdings in shares of 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 acquiring an additional 10,609 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of 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 acquiring an additional 14,507 shares during the period. Institutional investors own 87.37% of the company's stock.

Olaplex Price Performance

NASDAQ:OLPX opened at $2.04 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.34 and a current ratio of 6.27. The stock's 50-day simple moving average is $2.04 and its 200 day simple moving average is $1.64. The company has a market cap of $1.37 billion, a P/E ratio of -102.00 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 - Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. The business had revenue of $99.37 million for the quarter, compared to the consensus estimate of $94.11 million. Olaplex had a positive return on equity of 2.23% and a negative net margin of 3.53%.The company's quarterly revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Olaplex will post 0.09 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.