Olaplex (NASDAQ:OLPX) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Olaplex (NASDAQ:OLPX) from a strong sell rating to a hold rating in a report published on Tuesday morning,Zacks.com reports.

A number of other brokerages have also issued reports on OLPX. Canaccord Genuity Group lowered shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Jefferies Financial Group reiterated a “buy” rating on shares of Olaplex in a research report on Wednesday, March 4th. Telsey Advisory Group increased their target price on shares of Olaplex from $2.00 to $2.06 and gave the company a “market perform” rating in a research report on Friday, March 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a research report on Tuesday, April 21st. Finally, Barclays increased their target price on shares of Olaplex from $1.75 to $2.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Olaplex presently has a consensus rating of “Hold” and an average price target of $1.92.

Olaplex Price Performance

Olaplex stock opened at $2.04 on Tuesday. The company has a 50-day simple moving average of $1.80 and a 200-day simple moving average of $1.51. The firm 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 debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 6.27. Olaplex has a one year low of $0.99 and a one year high of $2.04.

Olaplex (NASDAQ:OLPX) last announced 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 firm had revenue of $99.37 million during the quarter, compared to analyst estimates of $94.11 million. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that Olaplex will post 0.09 earnings per share for the current year.

Insider Activity

In other news, CFO Catherine Dunleavy sold 93,809 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel John C. Duffy sold 34,962 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $44,052.12. Following the transaction, the general counsel owned 982,855 shares of the company’s stock, valued at approximately $1,238,397.30. This trade represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 215,442 shares of company stock worth $271,457. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Several large investors have recently made changes to their positions in the business. Abel Hall LLC boosted its position in shares of Olaplex by 44.6% during the 1st quarter. Abel Hall LLC now owns 28,663 shares of the company’s stock valued at $58,000 after purchasing an additional 8,845 shares in the last quarter. Creative Planning boosted its position in shares of Olaplex by 35.0% during the 2nd quarter. Creative Planning now owns 37,357 shares of the company’s stock valued at $52,000 after purchasing an additional 9,690 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Olaplex by 15.8% in the third quarter. Intech Investment Management LLC now owns 74,780 shares of the company’s stock worth $98,000 after buying an additional 10,192 shares during the period. Arizona State Retirement System boosted its holdings in shares of Olaplex by 27.4% in the third quarter. Arizona State Retirement System now owns 49,263 shares of the company’s stock worth $65,000 after buying an additional 10,609 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Olaplex by 95.4% in the third quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock worth $39,000 after buying an additional 14,507 shares during the period. Institutional investors own 87.37% of the company’s stock.

About Olaplex

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.