e.l.f. Beauty (NYSE:ELF) Earns “Buy” Rating from DA Davidson

e.l.f. Beauty (NYSE:ELF)‘s stock had its “buy” rating restated by DA Davidson in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $223.00 price objective on the stock. DA Davidson’s price objective indicates a potential upside of 94.56% from the company’s previous close.

A number of other research firms have also recently issued reports on ELF. JPMorgan Chase & Co. decreased their target price on 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. Canaccord Genuity Group boosted their price objective on 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. Baird R W upgraded shares of e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 18th. Stifel Nicolaus upped their price target on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the company a “hold” rating in a report on Monday, July 22nd. Finally, Robert W. Baird raised their price objective on shares of e.l.f. Beauty from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, e.l.f. Beauty presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.80.

e.l.f. Beauty Stock Performance

Shares of ELF stock opened at $114.62 on Wednesday. The stock has a 50-day moving average of $155.66 and a 200-day moving average of $175.25. e.l.f. Beauty has a one year low of $88.47 and a one year high of $221.83. The stock has a market cap of $6.41 billion, a PE ratio of 51.63, a price-to-earnings-growth ratio of 2.37 and a beta of 1.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10.

e.l.f. Beauty (NYSE:ELF) last posted its 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 company had revenue of $324.48 million for the quarter, compared to analyst estimates 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 expect that e.l.f. Beauty will post 2.88 earnings per share for the current year.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 548 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $95,900.00. Following the completion of the transaction, the chief executive officer now directly owns 214,507 shares of the company’s stock, valued at $37,538,725. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Tarang Amin sold 548 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $95,900.00. Following the transaction, the chief executive officer now directly owns 214,507 shares in the company, valued at $37,538,725. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Joshua Allen Franks sold 3,370 shares of the stock in a transaction on Monday, July 15th. The shares were 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 of the company’s stock, valued at approximately $14,489,342.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,304 shares of company stock valued at $3,864,492. 5.20% of the stock is owned by insiders.

Hedge Funds Weigh In On e.l.f. Beauty

Institutional investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. boosted its stake in shares of e.l.f. Beauty by 505.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 605 shares of the company’s stock worth $127,000 after acquiring an additional 505 shares during the period. Sanctuary Advisors LLC acquired a new stake in e.l.f. Beauty during the 2nd quarter valued at $1,102,000. Clearbridge Investments LLC boosted its position in 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 worth $265,432,000 after purchasing an additional 576,383 shares during the period. Cetera Investment Advisers increased its holdings in shares of e.l.f. Beauty by 33.8% in the second 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 raised its position 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. Institutional investors and hedge funds 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.