Olaplex (NASDAQ:OLPX) Reaches New 12-Month High – Still a Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX) reached a new 52-week high during trading on Monday . The company traded as high as $2.04 and last traded at $2.0350, with a volume of 364632 shares trading hands. The stock had previously closed at $2.03.

Analysts Set New Price Targets

A number of equities research analysts recently commented on OLPX shares. Barclays increased their price target on Olaplex from $1.75 to $2.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 14th. Telsey Advisory Group increased their price objective on shares of Olaplex from $2.00 to $2.06 and gave the company a “market perform” rating in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Olaplex from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Evercore set a $2.50 price objective on shares of Olaplex in a research note on Friday, March 6th. Finally, Canaccord Genuity Group lowered shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Olaplex has an average rating of “Hold” and an average target price of $1.92.

Olaplex Price Performance

The firm has a market capitalization of $1.37 billion, a PE ratio of -204.00 and a beta of 1.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 4.58. The business’s 50 day moving average is $1.75 and its two-hundred day moving average is $1.48.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Thursday, March 5th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $105.12 million during the quarter, compared to analyst estimates of $104.21 million. Olaplex had a negative net margin of 2.19% and a positive return on equity of 1.07%. Olaplex’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. Equities research analysts anticipate that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel John C. Duffy sold 34,962 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $44,052.12. Following the completion of the transaction, the general counsel directly owned 982,855 shares in the company, valued at $1,238,397.30. The trade was a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Trisha L. Fox sold 26,426 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $1.26, for a total transaction of $33,296.76. Following the transaction, the insider owned 721,169 shares of the company’s stock, valued at $908,672.94. This trade represents a 3.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 215,442 shares of company stock worth $271,457 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Olaplex during the fourth quarter worth about $25,000. Chilton Capital Management LLC purchased a new position in shares of Olaplex during the third quarter worth about $26,000. Abel Hall LLC purchased a new position in shares of Olaplex during the fourth quarter worth about $27,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Olaplex during the third quarter worth about $30,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Olaplex during the third quarter worth about $32,000. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

About Olaplex

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.