e.l.f. Beauty (NYSE:ELF) Stock Price Down 2.7% on Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF) shares traded down 2.7% during trading on Monday after Piper Sandler lowered their price target on the stock from $260.00 to $162.00. Piper Sandler currently has an overweight rating on the stock. e.l.f. Beauty traded as low as $109.35 and last traded at $113.52. 984,951 shares traded hands during trading, a decline of 43% from the average session volume of 1,730,540 shares. The stock had previously closed at $116.63.

Other research analysts have also issued reports about the stock. Raymond James reiterated a “strong-buy” rating and issued a $235.00 target price on shares of e.l.f. Beauty in a research report on Monday, July 22nd. Stifel Nicolaus upped their price target on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. B. Riley started coverage on shares of e.l.f. Beauty in a research report on Tuesday, September 10th. They set a “buy” rating and a $175.00 price target for the company. Robert W. Baird upped their price target on shares of 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. Finally, Truist Financial upped their price target on shares of e.l.f. Beauty from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.80.

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

In other e.l.f. Beauty news, CEO Tarang Amin sold 548 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $95,900.00. Following the completion of the transaction, the chief executive officer now owns 214,507 shares of the company’s stock, valued at $37,538,725. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Joshua Allen Franks sold 3,370 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $201.28, for a total transaction of $678,313.60. Following the sale, the senior vice president now 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 at this link. Also, CEO Tarang Amin sold 548 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $95,900.00. Following the sale, the chief executive officer now owns 214,507 shares in the company, valued at approximately $37,538,725. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,304 shares of company stock valued at $3,864,492. Corporate insiders own 5.20% of the company’s stock.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in e.l.f. Beauty by 5.2% in the fourth quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock worth $366,744,000 after purchasing an additional 126,231 shares during the last quarter. Swiss National Bank raised its position in e.l.f. Beauty by 0.5% in the first quarter. Swiss National Bank now owns 108,900 shares of the company’s stock worth $21,348,000 after acquiring an additional 500 shares during the period. Private Advisor Group LLC bought a new position in e.l.f. Beauty in the first quarter worth approximately $417,000. WD Rutherford LLC raised its position in e.l.f. Beauty by 17.5% in the second quarter. WD Rutherford LLC now owns 15,916 shares of the company’s stock worth $3,354,000 after acquiring an additional 2,374 shares during the period. Finally, Nia Impact Advisors LLC bought a new position in e.l.f. Beauty in the second quarter worth approximately $1,794,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 3.0 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. The firm has a market capitalization of $6.38 billion, a P/E ratio of 50.98, a P/E/G ratio of 2.37 and a beta of 1.44. The company’s 50-day simple moving average is $161.14 and its two-hundred day simple moving average is $176.84.

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

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.