e.l.f. Beauty (NYSE:ELF) Given Buy Rating at DA Davidson

DA Davidson reaffirmed their buy rating on shares of e.l.f. Beauty (NYSE:ELF) in a research note released on Monday,Benzinga reports. DA Davidson currently has a $170.00 price objective on the stock.

Several other analysts have also recently issued reports on the company. UBS Group cut their target price on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Morgan Stanley reduced their target price on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Canaccord Genuity Group dropped their price target on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on shares of 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, Piper Sandler restated an “overweight” rating and issued a $165.00 price objective (up from $162.00) on shares of e.l.f. Beauty in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.53.

e.l.f. Beauty Stock Performance

Shares of ELF stock opened at $127.15 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78. e.l.f. Beauty has a fifty-two week low of $98.50 and a fifty-two week high of $221.83. The company has a market capitalization of $7.16 billion, a P/E ratio of 68.73, a PEG ratio of 2.85 and a beta of 1.44. The stock has a 50 day moving average price of $113.32 and a two-hundred day moving average price of $151.76.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.34. The company had revenue of $301.10 million during the quarter, compared to analyst estimates of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The firm’s revenue was up 39.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. Analysts expect that e.l.f. Beauty will post 2.8 earnings per share for the current year.

Insider Activity

In other news, CEO Tarang Amin sold 23,528 shares of the company’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 value of $3,210,395.60. Following the transaction, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELF. Wilmington Savings Fund Society FSB bought a new stake in e.l.f. Beauty in the 3rd quarter worth about $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at about $26,000. Matrix Trust Co bought a new stake in shares of e.l.f. Beauty in the second quarter worth approximately $27,000. Innealta Capital LLC purchased a new position in shares of e.l.f. Beauty during the second quarter valued at approximately $30,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in e.l.f. Beauty by 405.9% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock valued at $36,000 after purchasing an additional 138 shares during the period. 92.44% of the stock is owned by 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.