e.l.f. Beauty (NYSE:ELF) Sees Unusually-High Trading Volume – Time to Buy?

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) saw unusually-high trading volume on Wednesday . Approximately 3,232,961 shares were traded during mid-day trading, an increase of 68% from the previous session’s volume of 1,925,534 shares.The stock last traded at $112.49 and had previously closed at $121.71.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ELF. B. Riley dropped their price target on shares of e.l.f. Beauty from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Canaccord Genuity Group lowered their price objective on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Bank of America cut their target price on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price target on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Morgan Stanley reduced their price objective on shares of 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and an average price target of $173.53.

e.l.f. Beauty Price Performance

The stock has a 50 day moving average of $111.79 and a 200-day moving average of $153.53. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $6.41 billion, a P/E ratio of 61.06, a price-to-earnings-growth ratio of 2.66 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.34. The business had revenue of $301.10 million during the quarter, compared to the consensus estimate of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The business’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. On average, equities research analysts anticipate that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.50% of the company’s stock.

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

Several hedge funds have recently modified their holdings of ELF. Sunbelt Securities Inc. increased its holdings in e.l.f. Beauty by 26.4% during the third quarter. Sunbelt Securities Inc. now owns 1,058 shares of the company’s stock valued at $115,000 after buying an additional 221 shares during the period. Coldstream Capital Management Inc. increased its position in shares of e.l.f. Beauty by 319.2% during the third quarter. Coldstream Capital Management Inc. now owns 4,179 shares of the company’s stock worth $501,000 after purchasing an additional 3,182 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of e.l.f. Beauty by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 955,064 shares of the company’s stock worth $104,158,000 after purchasing an additional 24,778 shares in the last quarter. M&T Bank Corp grew its stake in e.l.f. Beauty by 12.3% during the 3rd quarter. M&T Bank Corp now owns 9,161 shares of the company’s stock worth $999,000 after buying an additional 1,004 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in e.l.f. Beauty by 8.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 28,941 shares of the company’s stock valued at $3,155,000 after buying an additional 2,167 shares in the last quarter. Hedge funds and other institutional investors 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.