e.l.f. Beauty (NYSE:ELF) Shares Gap Down on Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF) gapped down before the market opened on Monday after Piper Sandler lowered their price target on the stock from $260.00 to $162.00. The stock had previously closed at $116.63, but opened at $110.00. Piper Sandler currently has an overweight rating on the stock. e.l.f. Beauty shares last traded at $114.50, with a volume of 553,969 shares trading hands.

Several other analysts have also weighed in on the company. DA Davidson reissued a “buy” rating and issued a $223.00 price objective on shares of e.l.f. Beauty in a report on Wednesday, September 11th. Stifel Nicolaus raised their price objective on e.l.f. Beauty from $151.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. TD Cowen lowered their target price 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. UBS Group reduced their price target on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Bank of America dropped their price objective on shares of e.l.f. Beauty from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $198.80.

Insider Transactions at e.l.f. Beauty

In related news, CEO Tarang Amin sold 15,386 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $200.85, for a total value of $3,090,278.10. Following the completion of the sale, the chief executive officer now directly owns 171,329 shares in the company, valued at approximately $34,411,429.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,370 shares of the firm’s 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tarang Amin sold 15,386 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was 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. In the last quarter, insiders sold 19,304 shares of company stock worth $3,864,492. 5.20% of the stock is owned by corporate insiders.

Institutional Trading of e.l.f. Beauty

A number of hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. acquired a new stake in shares of e.l.f. Beauty during the 2nd quarter worth approximately $801,693,000. Clearbridge Investments LLC bought a new stake in e.l.f. Beauty in the 1st quarter valued at $133,940,000. Norges Bank acquired a new position in shares of e.l.f. Beauty in the 4th quarter valued at $95,611,000. 1832 Asset Management L.P. bought a new position in shares of e.l.f. Beauty during the 1st quarter worth about $61,299,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of e.l.f. Beauty by 81.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 468,670 shares of the company’s stock valued at $98,758,000 after acquiring an additional 210,873 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

e.l.f. Beauty Stock Performance

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 firm has a market cap of $6.48 billion, a P/E ratio of 52.54, a PEG ratio of 2.37 and a beta of 1.44. The stock’s 50 day moving average is $162.94 and its two-hundred day moving average is $177.52.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.20. The business 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, equities analysts predict that e.l.f. Beauty, Inc. will post 2.88 EPS for the current 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.