Olaplex (NASDAQ:OLPX) Issues Earnings Results

Olaplex (NASDAQ:OLPX) issued its quarterly earnings results on Thursday. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04, Briefing.com reports. The firm had revenue of $119.10 million during the quarter, compared to the consensus estimate of $126.51 million. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The business’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 EPS. Olaplex updated its FY 2024 guidance to EPS.

Olaplex Trading Up 6.8 %

NASDAQ OLPX traded up $0.11 on Friday, reaching $1.73. The company had a trading volume of 2,496,869 shares, compared to its average volume of 2,414,767. Olaplex has a 52 week low of $1.19 and a 52 week high of $2.98. The stock’s 50 day moving average is $2.17 and its 200-day moving average is $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 stock has a market cap of $1.15 billion, a price-to-earnings ratio of 23.14 and a beta of 2.47.

Analyst Ratings Changes

OLPX has been the topic of a number of recent research reports. TD Cowen lifted their price objective on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Telsey Advisory Group restated a “market perform” rating and issued a $3.00 price objective on shares of Olaplex in a research report on Thursday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.42.

Insiders Place Their Bets

In other news, Director John P. Bilbrey purchased 183,493 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the transaction, the director now directly owns 241,593 shares of the company’s stock, valued at approximately $495,265.65. The trade was a 300.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company 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.