e.l.f. Beauty (NYSE:ELF) Price Target Cut to $200.00 by Analysts at Canaccord Genuity Group

e.l.f. Beauty (NYSE:ELF) had its price target decreased by research analysts at Canaccord Genuity Group from $250.00 to $200.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 64.57% from the stock’s previous close.

ELF has been the subject of a number of other reports. Truist Financial dropped their target price on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Stifel Nicolaus dropped their price target on e.l.f. Beauty from $161.00 to $131.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Jefferies Financial Group decreased their price objective on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Robert W. Baird dropped their price objective on shares of e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Finally, DA Davidson dropped their price objective on e.l.f. Beauty from $223.00 to $170.00 and set a “buy” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.27.

e.l.f. Beauty Stock Performance

ELF stock traded up $17.37 during mid-day trading on Thursday, reaching $121.53. 6,929,030 shares of the stock traded hands, compared to its average volume of 1,872,186. The firm has a market capitalization of $6.85 billion, a PE ratio of 57.87, a P/E/G ratio of 2.16 and a beta of 1.44. The business has a 50-day moving average of $113.74 and a two-hundred day moving average of $156.46. e.l.f. Beauty has a 52 week low of $92.16 and a 52 week high of $221.83. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 0.23.

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

Insider Buying and Selling at e.l.f. Beauty

In other news, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the completion of the sale, the chief executive officer now owns 106,016 shares of the company’s stock, valued at $14,465,883.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.50% of the company’s stock.

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

A number of hedge funds have recently added to or reduced their stakes in ELF. Picton Mahoney Asset Management lifted its holdings in shares of e.l.f. Beauty by 3.2% in the 2nd quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock worth $512,000 after purchasing an additional 75 shares in the last quarter. Hanseatic Management Services Inc. raised its holdings in shares of e.l.f. Beauty by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock worth $950,000 after acquiring an additional 77 shares during the last quarter. Portside Wealth Group LLC lifted its position in e.l.f. Beauty by 3.2% in the 2nd quarter. Portside Wealth Group LLC now owns 2,982 shares of the company’s stock valued at $628,000 after acquiring an additional 93 shares in the last quarter. GAMMA Investing LLC boosted its stake in e.l.f. Beauty by 27.8% during the 2nd quarter. GAMMA Investing LLC now owns 451 shares of the company’s stock valued at $95,000 after purchasing an additional 98 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in e.l.f. Beauty by 2.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company’s stock worth $1,007,000 after purchasing an additional 99 shares in the last quarter. 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.