e.l.f. Beauty Sees Unusually Large Options Volume (NYSE:ELF)

e.l.f. Beauty, Inc. (NYSE:ELF) saw unusually large options trading activity on Wednesday. Traders bought 103,332 call options on the stock. This is an increase of 607% compared to the average daily volume of 14,614 call options.

Analysts Set New Price Targets

A number of research firms have weighed in on ELF. JPMorgan Chase & Co. reduced their price objective on shares of e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Morgan Stanley dropped their price target on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Bank of America dropped their price target on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Jefferies Financial Group cut their price objective on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Truist Financial cut their price objective on shares of e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $173.53.

e.l.f. Beauty Stock Performance

ELF traded down $2.81 during trading on Wednesday, reaching $118.90. 11,105,385 shares of the company were exchanged, compared to its average volume of 1,960,523. The stock has a market cap of $6.70 billion, a P/E ratio of 61.06, a PEG ratio of 2.66 and a beta of 1.44. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $111.79 and a 200 day moving average of $153.53. e.l.f. Beauty has a 52 week low of $98.50 and a 52 week high of $221.83.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.43 by $0.34. The business had revenue of $301.10 million for the quarter, compared to analyst estimates of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. e.l.f. Beauty’s quarterly revenue was up 39.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. On average, sell-side analysts forecast that e.l.f. Beauty will post 2.8 EPS for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the company’s 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 transaction, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Natixis bought a new stake in e.l.f. Beauty in the 1st quarter worth about $533,000. CreativeOne Wealth LLC bought a new position in shares of e.l.f. Beauty during the first quarter valued at approximately $1,191,000. Axxcess Wealth Management LLC purchased a new position in e.l.f. Beauty in the 1st quarter worth approximately $929,000. Sheaff Brock Investment Advisors LLC lifted its stake in shares of e.l.f. Beauty by 4.1% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 3,185 shares of the company’s stock worth $624,000 after purchasing an additional 126 shares during the period. Finally, 1832 Asset Management L.P. purchased a new stake in e.l.f. Beauty during the 1st quarter valued at approximately $61,299,000. 92.44% of the stock is owned by institutional investors.

About e.l.f. Beauty

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.