e.l.f. Beauty (NYSE:ELF) Shares Up 4.1%

e.l.f. Beauty, Inc. (NYSE:ELF) shares shot up 4.1% during mid-day trading on Friday . The company traded as high as $122.99 and last traded at $119.40. 1,081,048 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 1,725,125 shares. The stock had previously closed at $114.67.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ELF shares. Canaccord Genuity Group boosted their price objective on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Bank of America cut their price target on shares of e.l.f. Beauty from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, September 9th. TD Cowen decreased their price objective on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday. Canaccord Genuity Group upped their target price on e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. reduced their price target on e.l.f. Beauty from $224.00 to $207.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, e.l.f. Beauty currently has an average rating of “Moderate Buy” and an average price target of $205.33.

e.l.f. Beauty Trading Up 1.7 %

The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $162.94 and its two-hundred day moving average is $177.71. The company has a market capitalization of $6.58 billion, a PE ratio of 52.54, a price-to-earnings-growth ratio of 2.37 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.20. The firm had revenue of $324.48 million during the quarter, compared to analysts’ expectations of $303.60 million. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. As a group, sell-side analysts predict that e.l.f. Beauty, Inc. will post 2.88 EPS for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In related news, CEO Tarang Amin sold 548 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $95,900.00. Following the sale, the chief executive officer now owns 214,507 shares of the company’s stock, valued at $37,538,725. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Joshua Allen Franks sold 3,370 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the completion of the sale, the senior vice president now owns 71,986 shares in the company, valued at approximately $14,489,342.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Tarang Amin sold 548 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $175.00, for a total value of $95,900.00. Following the completion of the sale, the chief executive officer now directly owns 214,507 shares of the company’s stock, valued at approximately $37,538,725. The disclosure for this sale can be found here. In the last three months, insiders sold 19,304 shares of company stock valued at $3,864,492. Corporate insiders own 5.20% of the company’s stock.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. raised its holdings in shares of e.l.f. Beauty by 505.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 605 shares of the company’s stock worth $127,000 after buying an additional 505 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in e.l.f. Beauty in the 2nd quarter worth $1,102,000. Clearbridge Investments LLC lifted its position in 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 acquiring an additional 576,383 shares during the period. Cetera Investment Advisers grew its stake in e.l.f. Beauty by 33.8% during the 2nd quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock valued at $8,285,000 after purchasing an additional 9,939 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in shares of e.l.f. Beauty by 60.6% in the second quarter. Truist Financial Corp now owns 6,824 shares of the company’s stock valued at $1,438,000 after purchasing an additional 2,576 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.