Olaplex (NASDAQ:OLPX) Posts Earnings Results, Hits Expectations

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 firm had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $126.51 million. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 earnings per share. Olaplex updated its FY 2024 guidance to EPS.

Olaplex Stock Up 5.6 %

NASDAQ OLPX traded up $0.09 during trading hours on Friday, hitting $1.71. 4,008,168 shares of the company were exchanged, compared to its average volume of 1,774,008. The company has a 50 day moving average of $2.16 and a two-hundred day moving average of $1.89. 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 firm has a market cap of $1.13 billion, a price-to-earnings ratio of 24.43 and a beta of 2.47. Olaplex has a 52-week low of $1.19 and a 52-week high of $2.98.

Insider Activity at Olaplex

In other Olaplex news, Director John P. Bilbrey bought 183,493 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average price of $2.05 per share, with a total value of $376,160.65. Following the completion of the acquisition, the director now directly owns 241,593 shares of the company’s stock, valued at $495,265.65. This represents a 300.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

About Olaplex

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.