Olaplex (NASDAQ:OLPX) Releases Quarterly Earnings Results, Hits Estimates

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

Olaplex Price Performance

NASDAQ:OLPX traded up $0.11 during trading hours on Friday, reaching $1.73. 2,496,869 shares of the company were exchanged, compared to its average volume of 2,414,767. The business has a 50 day moving average of $2.17 and a 200 day moving average of $1.89. Olaplex has a 1-year low of $1.19 and a 1-year high of $2.98. The company has a debt-to-equity ratio of 0.75, a current ratio of 9.27 and a quick ratio of 7.85. The company has a market capitalization of $1.15 billion, a P/E ratio of 23.14 and a beta of 2.47.

Insider Activity

In related news, Director John P. Bilbrey purchased 183,493 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average price of $2.05 per share, for a total transaction of $376,160.65. Following the completion of the transaction, the director now owns 241,593 shares of the company’s stock, valued at approximately $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 SEC, which is available through this link. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

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