e.l.f. Beauty (NYSE:ELF) Raised to “Buy” at TD Cowen

e.l.f. Beauty (NYSE:ELF) was upgraded by stock analysts at TD Cowen from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a $190.00 price target on the stock, down from their previous price target of $220.00. TD Cowen’s price objective points to a potential upside of 14.52% from the company’s current price.

ELF has been the subject of several other research reports. Morgan Stanley raised their target price on shares of e.l.f. Beauty from $168.00 to $184.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Piper Sandler lifted their price objective on shares of e.l.f. Beauty from $225.00 to $228.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Bank of America lifted their price objective on shares of e.l.f. Beauty from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. DA Davidson reiterated a “buy” rating and set a $220.00 price objective on shares of e.l.f. Beauty in a report on Monday, April 8th. Finally, Truist Financial lifted their price objective on shares of e.l.f. Beauty from $150.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $184.33.

e.l.f. Beauty Price Performance

Shares of NYSE:ELF traded up $0.23 on Wednesday, reaching $165.91. The company’s stock had a trading volume of 1,369,429 shares, compared to its average volume of 1,534,684. e.l.f. Beauty has a 52-week low of $83.80 and a 52-week high of $221.83. The company has a market cap of $9.21 billion, a P/E ratio of 73.85, a PEG ratio of 1.52 and a beta of 1.57. The company has a 50-day simple moving average of $186.67 and a 200 day simple moving average of $148.31. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 1.50.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm had revenue of $270.94 million during the quarter, compared to analyst estimates of $239.66 million. e.l.f. Beauty had a net margin of 14.53% and a return on equity of 28.98%. As a group, equities research analysts anticipate that e.l.f. Beauty will post 2.5 EPS for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In other news, CEO Tarang Amin sold 23,519 shares of e.l.f. Beauty stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total value of $4,677,693.91. Following the transaction, the chief executive officer now owns 10,889 shares of the company’s stock, valued at approximately $2,165,713.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. WD Rutherford LLC grew its position in shares of e.l.f. Beauty by 10.7% in the 1st quarter. WD Rutherford LLC now owns 13,542 shares of the company’s stock worth $2,655,000 after buying an additional 1,312 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in e.l.f. Beauty during the 1st quarter worth approximately $258,000. Wealth Enhancement Advisory Services LLC grew its position in e.l.f. Beauty by 43.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,427 shares of the company’s stock worth $672,000 after purchasing an additional 1,031 shares during the last quarter. Sunbelt Securities Inc. grew its position in e.l.f. Beauty by 997.6% during the 1st quarter. Sunbelt Securities Inc. now owns 900 shares of the company’s stock worth $176,000 after purchasing an additional 818 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in e.l.f. Beauty during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.