e.l.f. Beauty (NYSE:ELF) Earns Buy Rating from DA Davidson

e.l.f. Beauty (NYSE:ELF)‘s stock had its “buy” rating reissued by analysts at DA Davidson in a research note issued to investors on Monday,Benzinga reports. They presently have a $170.00 price objective on the stock. DA Davidson’s price target points to a potential upside of 36.72% from the company’s previous close.

A number of other brokerages have also recently commented on ELF. Canaccord Genuity Group lowered their target price on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price 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. Bank of America reduced their price target on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Jefferies Financial Group reduced their price target on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Truist Financial reduced their price target on 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. One equities 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.53.

e.l.f. Beauty Stock Performance

ELF opened at $124.34 on Monday. The stock has a market cap of $7.00 billion, a P/E ratio of 67.21, a P/E/G ratio of 2.77 and a beta of 1.44. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $112.82 and its 200 day simple moving average is $152.11. e.l.f. Beauty has a 1-year low of $98.50 and a 1-year high of $221.83.

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

Insider Activity

In other news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction that occurred 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 sale, the chief executive officer now owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. The trade was a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.

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

A number of hedge funds have recently made changes to their positions in ELF. Wilmington Savings Fund Society FSB bought a new stake in shares of e.l.f. Beauty during the third quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of e.l.f. Beauty during the second quarter valued at approximately $26,000. Matrix Trust Co bought a new stake in e.l.f. Beauty during the second quarter worth approximately $27,000. Innealta Capital LLC bought a new stake in e.l.f. Beauty during the second quarter worth approximately $30,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings 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 worth $36,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

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.