Olaplex (NASDAQ:OLPX) Issues Earnings Results

Olaplex (NASDAQ:OLPX) issued its quarterly earnings data on Thursday. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04, Briefing.com reports. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The firm had revenue of $119.10 million for the quarter, compared to analyst estimates of $126.51 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The company’s revenue was down 3.6% on a year-over-year basis. Olaplex updated its FY 2024 guidance to EPS.

Olaplex Stock Performance

Shares of OLPX traded up $0.11 during midday trading on Friday, reaching $1.73. 2,628,194 shares of the stock were exchanged, compared to its average volume of 2,416,754. Olaplex has a twelve month low of $1.19 and a twelve month high of $2.98. The company has a quick ratio of 7.85, a current ratio of 9.27 and a debt-to-equity ratio of 0.75. The company has a market cap of $1.14 billion, a P/E ratio of 24.71 and a beta of 2.47. The stock’s 50 day simple moving average is $2.17 and its 200 day simple moving average is $1.89.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OLPX. TD Cowen raised their target price on shares of Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $3.00 price target on shares of Olaplex in a report on Thursday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Olaplex presently has an average rating of “Hold” and an average price target of $2.42.

Insider Transactions at Olaplex

In related news, Director John P. Bilbrey purchased 183,493 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was acquired at an average price of $2.05 per share, with a total value of $376,160.65. Following the completion of the purchase, the director now directly owns 241,593 shares in the company, valued at $495,265.65. This trade represents a 300.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.20% of the company’s stock.

Olaplex Company Profile

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.