JPMorgan Chase & Co. Issues Pessimistic Forecast for e.l.f. Beauty (NYSE:ELF) Stock Price

e.l.f. Beauty (NYSE:ELF) had its price objective trimmed by JPMorgan Chase & Co. from $167.00 to $154.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts also recently commented on ELF. Jefferies Financial Group lowered their price target on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Truist Financial reduced 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 note on Wednesday, October 16th. Stifel Nicolaus reduced their price objective on shares of e.l.f. Beauty from $161.00 to $131.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Baird R W upgraded e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley cut their price objective on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.53.

e.l.f. Beauty Price Performance

Shares of e.l.f. Beauty stock traded up $4.08 on Thursday, hitting $120.15. 3,872,222 shares of the company traded hands, compared to its average volume of 1,892,833. The business has a 50-day simple moving average of $113.06 and a 200 day simple moving average of $156.17. e.l.f. Beauty has a 52 week low of $92.16 and a 52 week high of $221.83. The stock has a market capitalization of $6.78 billion, a P/E ratio of 55.27, a price-to-earnings-growth ratio of 2.16 and a beta of 1.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.77.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings data 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 return on equity of 23.30% and a net margin of 10.80%. The business had revenue of $324.48 million for the quarter, compared to analysts’ expectations of $303.60 million. Research analysts expect that e.l.f. Beauty will post 2.88 earnings per share for the current fiscal year.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the completion of the transaction, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.50% of the stock is owned by insiders.

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

Several institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. purchased a new stake in e.l.f. Beauty during the second quarter worth $801,693,000. Swedbank AB purchased a new stake in shares of e.l.f. Beauty during the 3rd quarter worth about $76,321,000. Clearbridge Investments LLC purchased a new stake in shares of e.l.f. Beauty during the 1st quarter worth about $133,940,000. Thrivent Financial for Lutherans grew its position in shares of e.l.f. Beauty by 223.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 555,287 shares of the company’s stock valued at $60,543,000 after acquiring an additional 383,478 shares during the period. Finally, 1832 Asset Management L.P. purchased a new position in shares of e.l.f. Beauty in the 1st quarter valued at about $61,299,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.