e.l.f. Beauty (NYSE:ELF) Trading Down 4.6% After Analyst Downgrade

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) dropped 4.6% during mid-day trading on Monday after Bank of America lowered their price target on the stock from $230.00 to $190.00. Bank of America currently has a buy rating on the stock. e.l.f. Beauty traded as low as $114.13 and last traded at $116.98. Approximately 1,685,429 shares changed hands during mid-day trading, an increase of 0% from the average daily volume of 1,683,057 shares. The stock had previously closed at $122.60.

ELF has been the topic of several other reports. Raymond James reaffirmed a “strong-buy” rating and set a $235.00 price objective on shares of e.l.f. Beauty in a report on Monday, July 22nd. Truist Financial raised their target price on shares of e.l.f. Beauty from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. TD Cowen lifted their price target on e.l.f. Beauty from $190.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. cut their price objective on shares of e.l.f. Beauty from $224.00 to $207.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Stifel Nicolaus raised their price target on e.l.f. Beauty from $151.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $213.57.

Insider Buying and Selling at e.l.f. Beauty

In related news, CEO Tarang Amin sold 15,386 shares of e.l.f. Beauty stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $200.85, for a total transaction of $3,090,278.10. Following the sale, the chief executive officer now owns 171,329 shares of the company’s stock, valued at approximately $34,411,429.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,370 shares of e.l.f. Beauty stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $201.28, for a total value of $678,313.60. Following the sale, the senior vice president now owns 71,986 shares of the company’s stock, valued at approximately $14,489,342.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Tarang Amin sold 15,386 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $200.85, for a total value of $3,090,278.10. Following the transaction, the chief executive officer now owns 171,329 shares of the company’s stock, valued at $34,411,429.65. The disclosure for this sale can be found here. Insiders have sold 19,304 shares of company stock valued at $3,864,492 over the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

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

Institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of e.l.f. Beauty during the second quarter valued at $26,000. Matrix Trust Co bought a new position in e.l.f. Beauty in the 2nd quarter worth about $27,000. Innealta Capital LLC bought a new stake in shares of e.l.f. Beauty during the second quarter valued at approximately $30,000. Harbor Investment Advisory LLC bought a new position in e.l.f. Beauty in the first quarter worth approximately $31,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of e.l.f. Beauty by 405.9% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock worth $36,000 after buying an additional 138 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

e.l.f. Beauty Stock Performance

The firm has a market cap of $6.57 billion, a P/E ratio of 52.69, a price-to-earnings-growth ratio of 2.55 and a beta of 1.45. 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 firm’s fifty day moving average price is $171.80 and its 200 day moving average price is $180.37.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data 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. 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%. Sell-side analysts expect that e.l.f. Beauty, Inc. will post 2.88 EPS for the current fiscal year.

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.