e.l.f. Beauty (NYSE:ELF) Given Overweight Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of e.l.f. Beauty (NYSE:ELF) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $165.00 price target on the stock, up from their prior price target of $162.00.

Several other equities research analysts have also weighed in on the company. Truist Financial dropped their target price on 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. Robert W. Baird lowered their price target on e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Bank of America lowered their price target on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Morgan Stanley lowered their price target on 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. Finally, TD Cowen lowered their price target on e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, e.l.f. Beauty has a consensus rating of “Moderate Buy” and an average target price of $173.53.

e.l.f. Beauty Stock Performance

Shares of ELF stock traded up $4.13 on Thursday, hitting $120.20. 3,864,414 shares of the stock traded hands, compared to its average volume of 1,892,806. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. The company has a market capitalization of $6.78 billion, a PE ratio of 55.27, a PEG ratio of 2.16 and a beta of 1.44. e.l.f. Beauty has a 1-year low of $92.16 and a 1-year high of $221.83. The company’s fifty day moving average is $113.06 and its 200 day moving average is $156.17.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly 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. e.l.f. Beauty had a return on equity of 23.30% and a net margin of 10.80%. The business had revenue of $324.48 million for the quarter, compared to analyst estimates of $303.60 million. On average, equities research analysts predict that e.l.f. Beauty will post 2.88 earnings per share for the current fiscal year.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of the firm’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 value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.50% of the stock is owned by company insiders.

Institutional Trading of e.l.f. Beauty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. grew its holdings in e.l.f. Beauty by 39.5% in the 3rd quarter. Baillie Gifford & Co. now owns 5,305,692 shares of the company’s stock valued at $578,480,000 after buying an additional 1,501,151 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of 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 purchasing an additional 168,267 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of e.l.f. Beauty by 84.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock worth $265,432,000 after purchasing an additional 576,383 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of e.l.f. Beauty by 55.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 730,377 shares of the company’s stock worth $79,633,000 after purchasing an additional 261,707 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of e.l.f. Beauty during the 3rd quarter worth approximately $76,321,000. Institutional investors and hedge funds 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.