e.l.f. Beauty (NYSE:ELF) Stock Price Up 6% – Here’s Why

e.l.f. Beauty, Inc. (NYSE:ELF)’s stock price shot up 6% during trading on Monday . The stock traded as high as $116.55 and last traded at $116.33. 1,616,295 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 1,793,100 shares. The stock had previously closed at $109.72.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ELF. Baird R W raised e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 18th. UBS Group reduced their price objective on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus lifted their price objective on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the company a “hold” rating in a report on Monday, July 22nd. B. Riley began coverage on shares of e.l.f. Beauty in a research report on Tuesday, September 10th. They set a “buy” rating and a $175.00 price target for the company. Finally, DA Davidson reiterated a “buy” rating and issued a $223.00 target price on shares of e.l.f. Beauty in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.21.

e.l.f. Beauty Stock Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.77. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 49.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43. The company’s fifty day simple moving average is $130.84 and its two-hundred day simple moving average is $163.17.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.20. The firm had revenue of $324.48 million for 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%. Equities research analysts predict that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In other news, CEO Tarang Amin sold 23,528 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the completion of the sale, the chief executive officer now directly owns 106,016 shares in the company, valued at approximately $14,465,883.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.20% of the stock is owned by insiders.

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

Several hedge funds have recently bought and sold shares of ELF. Vanguard Group Inc. lifted its stake in e.l.f. Beauty by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,050,649 shares of the company’s stock valued at $873,351,000 after acquiring an additional 79,701 shares during the last quarter. Baillie Gifford & Co. acquired a new position in shares of e.l.f. Beauty during the second quarter worth $801,693,000. Wellington Management Group LLP boosted its holdings in e.l.f. Beauty by 5.2% in the fourth quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock valued at $366,744,000 after acquiring an additional 126,231 shares during the last quarter. William Blair Investment Management LLC grew its holdings in e.l.f. Beauty by 12.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company’s stock worth $318,647,000 after acquiring an additional 168,267 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of e.l.f. Beauty by 84.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after acquiring an additional 576,383 shares in the last quarter. 92.44% of the stock is currently 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.