B. Riley Begins Coverage on e.l.f. Beauty (NYSE:ELF)

B. Riley began coverage on shares of e.l.f. Beauty (NYSE:ELF) in a research note published on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $175.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler reiterated an overweight rating and set a $260.00 price objective on shares of e.l.f. Beauty in a research report on Monday, August 26th. TD Cowen increased their price objective on e.l.f. Beauty from $190.00 to $235.00 and gave the company a buy rating in a research report on Tuesday, June 4th. Robert W. Baird increased their price objective on e.l.f. Beauty from $230.00 to $240.00 and gave the company an outperform rating in a research report on Friday, August 9th. Canaccord Genuity Group increased 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. Finally, UBS Group cut their price objective on e.l.f. Beauty from $250.00 to $230.00 and set a buy rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, e.l.f. Beauty presently has an average rating of Moderate Buy and a consensus price target of $205.33.

e.l.f. Beauty Stock Performance

Shares of ELF stock opened at $114.70 on Tuesday. e.l.f. Beauty has a 12-month low of $88.47 and a 12-month high of $221.83. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 51.67, a price-to-earnings-growth ratio of 2.55 and a beta of 1.44. The business has a 50 day simple moving average of $164.61 and a 200 day simple moving average of $178.45. 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 issued its quarterly earnings results on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. The firm had revenue of $324.48 million during the quarter, compared to analyst estimates of $303.60 million. e.l.f. Beauty had a return on equity of 23.30% and a net margin of 10.80%. On average, equities research analysts anticipate that e.l.f. Beauty will post 2.88 EPS for the current year.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 15,386 shares of e.l.f. Beauty stock in a transaction 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 completion of the sale, the chief executive officer now owns 171,329 shares of the company’s stock, valued at $34,411,429.65. The transaction was disclosed in a legal filing with the SEC, which is available 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 dated Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the transaction, the senior vice president now directly owns 71,986 shares in the company, valued at $14,489,342.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Tarang Amin sold 15,386 shares of the firm’s stock in a transaction dated 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 in the company, valued at $34,411,429.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,304 shares of company stock valued at $3,864,492. Insiders own 5.20% of the company’s stock.

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

A number of institutional investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. increased its stake 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 purchasing an additional 505 shares during the period. Sanctuary Advisors LLC bought a new position in shares of e.l.f. Beauty in the second quarter worth about $1,102,000. Clearbridge Investments LLC increased its stake in shares of e.l.f. Beauty by 84.4% in 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 stake 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 worth $8,285,000 after purchasing an additional 9,939 shares during the period. Finally, Truist Financial Corp increased its stake 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 worth $1,438,000 after purchasing an additional 2,576 shares during the period. 92.44% of the stock is currently owned by institutional investors.

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.