Bank of America Cuts e.l.f. Beauty (NYSE:ELF) Price Target to $165.00

e.l.f. Beauty (NYSE:ELF) had its price objective cut by Bank of America from $190.00 to $165.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. Robert W. Baird boosted their target price on e.l.f. Beauty from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Morgan Stanley decreased their price objective on shares of e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Piper Sandler dropped their price objective on shares of e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. reduced their target price on shares of e.l.f. Beauty from $207.00 to $167.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, B. Riley began coverage on shares of e.l.f. Beauty in a report on Tuesday, September 10th. They issued a “buy” rating and a $175.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.21.

e.l.f. Beauty Stock Performance

Shares of ELF stock opened at $107.90 on Tuesday. The stock has a market cap of $6.04 billion, a P/E ratio of 48.60, a P/E/G ratio of 2.19 and a beta of 1.43. The company has a fifty day moving average price of $127.74 and a two-hundred day moving average price of $162.40. e.l.f. Beauty has a one year low of $88.47 and a one year high of $221.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.20. The business had revenue of $324.48 million during the quarter, compared to the consensus estimate of $303.60 million. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. As a group, equities analysts predict that e.l.f. Beauty will post 2.88 EPS for the current year.

Insider Activity

In related news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the sale, the chief executive officer now owns 106,016 shares of the company’s stock, valued at $14,465,883.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On e.l.f. Beauty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELF. Ashton Thomas Private Wealth LLC acquired a new position in e.l.f. Beauty in the second quarter valued at about $26,000. Matrix Trust Co bought a new position in e.l.f. Beauty in the 2nd quarter valued at about $27,000. Innealta Capital LLC acquired a new position in shares of e.l.f. Beauty in the 2nd quarter valued at approximately $30,000. Harbor Investment Advisory LLC bought a new stake in shares of e.l.f. Beauty during the 1st quarter worth approximately $31,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of e.l.f. Beauty by 405.9% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock worth $36,000 after acquiring an additional 138 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.