e.l.f. Beauty (NYSE:ELF) Shares Up 8.2% – Here’s What Happened

e.l.f. Beauty, Inc. (NYSE:ELF)’s share price shot up 8.2% on Monday . The company traded as high as $132.00 and last traded at $130.08. 1,061,434 shares were traded during mid-day trading, a decline of 44% from the average session volume of 1,889,049 shares. The stock had previously closed at $120.20.

Analyst Ratings Changes

Several research analysts have recently issued reports on ELF shares. UBS Group lowered their price target on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 target price (up previously from $162.00) on shares of e.l.f. Beauty in a report on Thursday, November 7th. DA Davidson cut their price target on e.l.f. Beauty from $223.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Truist Financial cut their target price on shares of 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. One research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.53.

e.l.f. Beauty Stock Down 6.4 %

The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 66.75, a PEG ratio of 2.88 and a beta of 1.44. The firm has a 50 day moving average of $111.97 and a 200 day moving average of $154.96. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.34. The company had revenue of $301.10 million during the quarter, compared to analyst estimates of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. e.l.f. Beauty’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, sell-side analysts predict that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

Insider Activity

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the 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 owns 106,016 shares in the company, valued at approximately $14,465,883.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its position 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 acquiring an additional 1,501,151 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of e.l.f. Beauty by 12.5% in the second quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company’s stock valued at $318,647,000 after purchasing an additional 168,267 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of e.l.f. Beauty by 84.4% during the second quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after buying an additional 576,383 shares during the last quarter. FMR LLC grew its holdings in e.l.f. Beauty by 5.5% during the third quarter. FMR LLC now owns 1,186,766 shares of the company’s stock worth $129,393,000 after buying an additional 61,524 shares in the last quarter. Finally, Champlain Investment Partners LLC purchased a new stake in e.l.f. Beauty in the 3rd quarter valued at $121,558,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.