Olaplex (NASDAQ:OLPX) Issues Quarterly Earnings Results

Olaplex (NASDAQ:OLPX - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.04 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 during the quarter, compared to the consensus estimate of $126.51 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The firm's revenue was down 3.6% on a year-over-year basis. Olaplex updated its FY 2024 guidance to EPS.

Olaplex Stock Performance

OLPX stock traded up $0.09 during midday trading on Friday, reaching $1.71. 4,008,168 shares of the company were exchanged, compared to its average volume of 1,774,008. Olaplex has a one year low of $1.19 and a one year high of $2.98. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 24.43 and a beta of 2.47. The business has a 50-day moving average price of $2.16 and a two-hundred day moving average price of $1.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 9.27 and a quick ratio of 7.85.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Telsey Advisory Group reaffirmed a "market perform" rating and set a $3.00 price target on shares of Olaplex in a research note on Thursday. TD Cowen boosted their price target on Olaplex from $1.80 to $2.00 and gave the stock a "hold" rating in a research 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $2.42.

Insider Activity

In other news, Director John P. Bilbrey acquired 183,493 shares of Olaplex stock in a transaction dated Monday, August 19th. The stock was bought 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 directly owns 241,593 shares in the company, valued at approximately $495,265.65. The trade was a 300.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.20% of the company's stock.

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.