e.l.f. Beauty (NYSE:ELF) Receives “Buy” Rating from DA Davidson

e.l.f. Beauty (NYSE:ELF)‘s stock had its “buy” rating reaffirmed by equities research analysts at DA Davidson in a research note issued to investors on Monday,Benzinga reports. They currently have a $170.00 price objective on the stock. DA Davidson’s target price would suggest a potential upside of 34.47% from the company’s previous close.

Several other research analysts have also issued reports on ELF. Jefferies Financial Group lowered their target price on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Robert W. Baird lowered their price objective on e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Truist Financial reduced their target price on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on shares of e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Canaccord Genuity Group reduced their price objective on shares of e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, e.l.f. Beauty has an average rating of “Moderate Buy” and a consensus target price of $173.53.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $126.42 on Monday. The stock’s 50-day moving average is $112.24 and its 200-day moving average is $152.67. e.l.f. Beauty has a 1-year low of $98.50 and a 1-year high of $221.83. 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 stock has a market cap of $7.12 billion, a P/E ratio of 68.34, a price-to-earnings-growth ratio of 2.77 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The firm had revenue of $301.10 million for the quarter, compared to analyst estimates of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The company’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. Equities research analysts anticipate that e.l.f. Beauty will post 2.8 earnings per share for the current year.

Insider Transactions at e.l.f. Beauty

In related 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 directly owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On e.l.f. Beauty

Hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of e.l.f. Beauty in the 2nd quarter worth $26,000. Matrix Trust Co bought a new position in shares of e.l.f. Beauty in the second quarter valued at $27,000. Innealta Capital LLC acquired a new position in shares of e.l.f. Beauty during the second quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of e.l.f. Beauty by 405.9% during the second 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. Finally, Crewe Advisors LLC boosted its stake in e.l.f. Beauty by 456.3% during the 2nd quarter. Crewe Advisors LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

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.