Olaplex (NASDAQ:OLPX) Announces Quarterly Earnings Results

Olaplex (NASDAQ:OLPX) released its earnings results on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04, Briefing.com reports. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The business had revenue of $119.10 million for the quarter, compared to analyst estimates of $126.51 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Olaplex updated its FY 2024 guidance to EPS.

Olaplex Price Performance

Shares of NASDAQ:OLPX traded up $0.09 during trading on Friday, hitting $1.71. 4,008,168 shares of the stock were exchanged, compared to its average volume of 1,774,008. Olaplex has a 12-month low of $1.19 and a 12-month high of $2.98. The company has a market cap of $1.13 billion, a PE ratio of 24.43 and a beta of 2.47. The company has a fifty day moving average price of $2.16 and a two-hundred day moving average price of $1.89. The company has a current ratio of 9.27, a quick ratio of 7.85 and a debt-to-equity ratio of 0.75.

Insider Buying and Selling

In other news, Director John P. Bilbrey purchased 183,493 shares of the business’s stock in a transaction dated 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 purchase, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Telsey Advisory Group restated a “market perform” rating and set a $3.00 price objective on shares of Olaplex in a research report on Thursday. TD Cowen raised their price target on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Olaplex 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.