e.l.f. Beauty (NYSE:ELF) Shares Gap Down Following Analyst Downgrade

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) gapped down prior to trading on Tuesday after Robert W. Baird lowered their price target on the stock from $240.00 to $175.00. The stock had previously closed at $112.51, but opened at $110.00. Robert W. Baird currently has an outperform rating on the stock. e.l.f. Beauty shares last traded at $109.70, with a volume of 171,282 shares.

A number of other equities research analysts have also recently issued reports on the stock. DA Davidson reaffirmed a “buy” rating and issued a $223.00 price objective on shares of e.l.f. Beauty in a research note on Tuesday, October 15th. Baird R W raised shares of e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 18th. Bank of America cut their price objective on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. cut their price objective on shares of e.l.f. Beauty from $207.00 to $167.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, TD Cowen cut their price objective on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.57.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 106,016 shares in the company, valued at approximately $14,465,883.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new position in e.l.f. Beauty in the 2nd quarter worth $6,659,000. Cetera Investment Advisers grew its position in shares of e.l.f. Beauty by 33.8% in the 2nd quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock worth $8,285,000 after buying an additional 9,939 shares during the period. Clearbridge Investments LLC grew its position in shares of e.l.f. Beauty by 84.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock worth $265,432,000 after buying an additional 576,383 shares during the period. Swiss National Bank grew its position in shares of e.l.f. Beauty by 0.5% in the 1st quarter. Swiss National Bank now owns 108,900 shares of the company’s stock worth $21,348,000 after buying an additional 500 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of e.l.f. Beauty by 55.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 730,377 shares of the company’s stock worth $79,633,000 after buying an additional 261,707 shares during the period. 92.44% of the stock is currently owned by institutional investors.

e.l.f. Beauty Stock Down 5.2 %

The stock’s 50-day moving average price is $125.22 and its two-hundred day moving average price is $160.89. The stock has a market capitalization of $5.97 billion, a PE ratio of 48.04, a P/E/G ratio of 2.19 and a beta of 1.43. 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 released its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.20. The firm 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, analysts expect that e.l.f. Beauty, Inc. will post 2.88 EPS for the current fiscal year.

About e.l.f. Beauty

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.