Olaplex (NASDAQ:OLPX) Stock Rating Upgraded by Zacks Research

Olaplex (NASDAQ:OLPX) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on the company. Telsey Advisory Group upped their price objective on Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a research note on Friday, March 27th. Wall Street Zen raised Olaplex from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Evercore set a $2.50 price target on Olaplex in a research note on Friday, March 6th. Morgan Stanley set a $1.40 price target on Olaplex in a research note on Tuesday, March 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Olaplex in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Olaplex has a consensus rating of “Hold” and a consensus target price of $1.92.

Olaplex Price Performance

Shares of OLPX opened at $2.04 on Tuesday. The company has a market cap of $1.37 billion, a P/E ratio of -102.00 and a beta of 1.87. The stock has a fifty day moving average price of $1.80 and a 200 day moving average price of $1.51. The company has a debt-to-equity ratio of 0.40, a current ratio of 6.27 and a quick ratio of 4.00. Olaplex has a 12 month low of $0.99 and a 12 month high of $2.04.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $99.37 million during 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%.Olaplex’s revenue was up 2.5% on a year-over-year basis. On average, research analysts forecast that Olaplex will post 0.09 earnings per share for the current year.

Insider Transactions at Olaplex

In other news, insider Trisha L. Fox sold 26,426 shares of the company’s 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 sale, the insider owned 721,169 shares in the company, valued at $908,672.94. This represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Catherine Dunleavy sold 93,809 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $118,199.34. Following the completion of the sale, the chief financial officer owned 3,026,885 shares of the company’s stock, valued at approximately $3,813,875.10. This trade represents a 3.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 215,442 shares of company stock valued at $271,457. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Olaplex

Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Olaplex by 3.3% in 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 during the period. ABC Arbitrage SA purchased a new stake in shares of Olaplex during the first quarter valued at $265,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Olaplex during the first quarter valued at $36,000. Hsbc Holdings PLC lifted 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 purchasing an additional 54,003 shares during the last quarter. Finally, Credit Industriel ET Commercial purchased a new stake in shares of Olaplex during the first quarter valued at $989,000. Institutional investors and hedge funds 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.