Canaccord Genuity Group Lowers Estée Lauder Companies (NYSE:EL) Price Target to $70.00

Estée Lauder Companies (NYSE:EL) had its price target cut by investment analysts at Canaccord Genuity Group from $76.00 to $70.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 8.80% from the stock’s previous close.

Several other brokerages also recently weighed in on EL. JPMorgan Chase & Co. raised their target price on Estée Lauder Companies from $74.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Wells Fargo & Company raised their target price on Estée Lauder Companies from $74.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Morgan Stanley lowered their target price on Estée Lauder Companies from $100.00 to $85.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of Estée Lauder Companies in a research note on Friday, January 31st. Finally, Barclays raised their target price on Estée Lauder Companies from $63.00 to $71.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Twenty investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Estée Lauder Companies presently has a consensus rating of “Hold” and a consensus price target of $86.00.

Estée Lauder Companies Stock Down 2.4 %

Shares of NYSE EL opened at $64.34 on Wednesday. Estée Lauder Companies has a 12-month low of $62.29 and a 12-month high of $159.54. The company has a market cap of $23.10 billion, a P/E ratio of 114.89, a P/E/G ratio of 5.89 and a beta of 1.03. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 1.44. The stock has a fifty day moving average price of $77.05 and a 200 day moving average price of $83.39.

Estée Lauder Companies (NYSE:EL) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.30. Estée Lauder Companies had a return on equity of 17.31% and a net margin of 1.31%. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same period in the prior year, the firm earned $0.88 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. Research analysts anticipate that Estée Lauder Companies will post 1.5 EPS for the current fiscal year.

Insider Activity

In other news, Director Paul J. Fribourg bought 75,500 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $64.93 per share, with a total value of $4,902,215.00. Following the completion of the acquisition, the director now directly owns 310,000 shares in the company, valued at approximately $20,128,300. This trade represents a 32.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.78% of the company’s stock.

Institutional Investors Weigh In On Estée Lauder Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. acquired a new position in Estée Lauder Companies in the fourth quarter worth approximately $29,000. Deseret Mutual Benefit Administrators grew its position in Estée Lauder Companies by 68.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 388 shares of the company’s stock worth $29,000 after buying an additional 158 shares during the last quarter. Eagle Bay Advisors LLC grew its position in Estée Lauder Companies by 297.0% in the fourth quarter. Eagle Bay Advisors LLC now owns 401 shares of the company’s stock worth $30,000 after buying an additional 300 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Estée Lauder Companies in the fourth quarter worth approximately $30,000. Finally, Ashton Thomas Securities LLC acquired a new position in Estée Lauder Companies in the third quarter worth approximately $31,000. Institutional investors own 55.15% of the company’s stock.

Estée Lauder Companies Company Profile

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, and powders, as well as compacts, brushes, and other makeup tools.