Brokerages Set Olaplex Holdings, Inc. (NASDAQ:OLPX) Target Price at $1.92

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have earned an average recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $1.9229.

A number of brokerages have recently weighed in on OLPX. Zacks Research raised Olaplex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Olaplex in a research report on Wednesday, March 4th. Morgan Stanley set a $1.40 price target on shares of Olaplex in a research report on Tuesday, March 10th. Northland Securities downgraded shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a report on Tuesday, April 21st.

Insider Activity

In other news, insider Trisha L. Fox sold 16,324 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $2.04, for a total value of $33,300.96. Following the sale, the insider directly owned 1,064,039 shares in the company, valued at approximately $2,170,639.56. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Olaplex

A number of hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of Olaplex in the 4th quarter valued at about $25,000. Abel Hall LLC purchased a new stake in shares of Olaplex during the fourth quarter worth approximately $27,000. Schonfeld Strategic Advisors LLC acquired a new stake in Olaplex in the third quarter valued at approximately $30,000. Wealth Enhancement Advisory Services LLC purchased a new position in Olaplex in the third quarter worth approximately $32,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Olaplex in the first quarter worth approximately $36,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

Olaplex Stock 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 has a market capitalization of $1.37 billion, a P/E ratio of -102.00 and a beta of 1.86. The company has a 50 day moving average price of $2.04 and a 200 day moving average price of $1.66. Olaplex has a fifty-two week low of $0.99 and a fifty-two week high of $2.06.

Olaplex (NASDAQ:OLPX) last posted its earnings results on Monday, May 11th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $99.37 million during the quarter, compared to the consensus estimate of $94.11 million. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Olaplex will post 0.09 EPS for the current year.

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.