Olaplex (NASDAQ:OLPX) Issues Earnings Results

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

Olaplex Trading Up 5.2 %

Shares of NASDAQ OLPX traded up $0.09 during midday trading on Friday, hitting $1.71. 3,635,012 shares of the company traded hands, compared to its average volume of 2,418,240. The firm has a market cap of $1.13 billion, a P/E ratio of 24.71 and a beta of 2.47. The company has a debt-to-equity ratio of 0.75, a quick ratio of 7.85 and a current ratio of 9.27. The stock has a 50-day moving average price of $2.17 and a 200 day moving average price of $1.89. Olaplex has a 12-month low of $1.19 and a 12-month high of $2.98.

Insider Activity at Olaplex

In other news, Director John P. Bilbrey acquired 183,493 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was acquired at an average price of $2.05 per share, for a total transaction of $376,160.65. Following the completion of the acquisition, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OLPX. TD Cowen boosted their price objective on Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Telsey Advisory Group reissued a “market perform” rating and set a $3.00 target price on shares of Olaplex in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.42.

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.