Zacks Research Upgrades Olaplex (NASDAQ:OLPX) to Hold

Olaplex (NASDAQ:OLPX) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a report on Tuesday, April 21st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Olaplex in a research note on Wednesday, March 4th. Evercore set a $2.50 price objective on shares of Olaplex in a research note on Friday, March 6th. Canaccord Genuity Group downgraded shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Northland Securities downgraded shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1.92.

Olaplex Stock Performance

NASDAQ OLPX opened at $2.04 on Tuesday. Olaplex has a 52-week low of $0.99 and a 52-week high of $2.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 6.27. The company has a market capitalization of $1.37 billion, a P/E ratio of -102.00 and a beta of 1.87. The company has a fifty day moving average of $1.80 and a 200-day moving average of $1.51.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The company had revenue of $99.37 million during the quarter, compared to the consensus estimate of $94.11 million. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Olaplex will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling at Olaplex

In other Olaplex news, insider Trisha L. Fox sold 26,426 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $1.26, for a total transaction of $33,296.76. Following the completion of the transaction, the insider owned 721,169 shares of the company’s stock, valued at approximately $908,672.94. This trade represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Catherine Dunleavy sold 93,809 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $118,199.34. Following the transaction, the chief financial officer directly owned 3,026,885 shares of the company’s stock, valued at $3,813,875.10. This represents a 3.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 215,442 shares of company stock valued at $271,457. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in shares of Olaplex during the fourth quarter valued at approximately $25,000. Chilton Capital Management LLC purchased a new stake in shares of Olaplex during the third quarter valued at approximately $26,000. Abel Hall LLC purchased a new stake in shares of Olaplex during the fourth quarter valued at approximately $27,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Olaplex during the third quarter valued at approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Olaplex during the third quarter valued at approximately $32,000. 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.