Olaplex (NASDAQ:OLPX) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Olaplex (NASDAQ:OLPX) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a research report on Tuesday, April 21st. Jefferies Financial Group restated a “buy” rating on shares of Olaplex in a research report on Wednesday, March 4th. Evercore set a $2.50 price target on Olaplex in a report on Friday, March 6th. Morgan Stanley set a $1.40 target price on Olaplex in a report on Tuesday, March 10th. Finally, Telsey Advisory Group lifted their target price on Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Olaplex has a consensus rating of “Reduce” and a consensus target price of $1.92.

Olaplex Price Performance

Shares of Olaplex stock opened at $2.04 on Tuesday. The business’s fifty day moving average price is $1.75 and its two-hundred day moving average price is $1.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.58 and a quick ratio of 4.00. The company has a market capitalization of $1.37 billion, a P/E ratio of -204.00 and a beta of 1.87. Olaplex has a 1-year low of $0.99 and a 1-year high of $2.04.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Thursday, March 5th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Olaplex had a positive return on equity of 1.07% and a negative net margin of 2.19%.The firm had revenue of $105.12 million for the quarter, compared to the consensus estimate of $104.21 million. During the same quarter in the previous year, the business earned $0.01 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Olaplex will post 0.09 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel John C. Duffy sold 34,962 shares of Olaplex stock in a transaction on 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 directly owned 982,855 shares in the company, valued at $1,238,397.30. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Trisha L. Fox sold 26,426 shares of Olaplex stock in a transaction on Monday, March 9th. The stock was sold at an average price of $1.26, for a total value of $33,296.76. Following the completion of the transaction, the insider owned 721,169 shares in the company, valued at $908,672.94. The trade was a 3.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 215,442 shares of company stock worth $271,457 in the last three months. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in shares of Olaplex by 3.3% during the first 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. ABC Arbitrage SA purchased a new position in shares of Olaplex during the first quarter valued at $265,000. Sequoia Financial Advisors LLC purchased a new position in shares of Olaplex during the first quarter valued at $36,000. Hsbc Holdings PLC grew its holdings in shares of Olaplex by 271.7% during the first quarter. Hsbc Holdings PLC now owns 73,882 shares of the company’s stock valued at $150,000 after buying an additional 54,003 shares in the last quarter. Finally, Credit Industriel ET Commercial purchased a new position in shares of Olaplex during the first quarter valued at $989,000. Hedge funds and other institutional investors own 87.37% of the company’s stock.

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.