e.l.f. Beauty (NYSE:ELF) Shares Down 3.4% Following Analyst Downgrade

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) were down 3.4% during mid-day trading on Monday after DA Davidson lowered their price target on the stock from $80.00 to $75.00. DA Davidson currently has a neutral rating on the stock. e.l.f. Beauty traded as low as $65.40 and last traded at $65.84. Approximately 584,864 shares were traded during trading, a decline of 73% from the average daily volume of 2,202,128 shares. The stock had previously closed at $68.18.

ELF has been the topic of several other reports. Raymond James dropped their price objective on e.l.f. Beauty from $175.00 to $120.00 and set a “strong-buy” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group cut their price target on shares of e.l.f. Beauty from $142.00 to $124.00 and set a “buy” rating for the company in a report on Friday, February 21st. B. Riley reaffirmed a “buy” rating and set a $90.00 price objective (down from $150.00) on shares of e.l.f. Beauty in a report on Friday, February 7th. Piper Sandler cut their target price on shares of e.l.f. Beauty from $167.00 to $131.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Canaccord Genuity Group cut their price objective on e.l.f. Beauty from $174.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.65.

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

In other news, Director Maureen C. Watson sold 4,000 shares of e.l.f. Beauty stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $67.39, for a total transaction of $269,560.00. Following the sale, the director now owns 1,888 shares of the company’s stock, valued at approximately $127,232.32. The trade was a 67.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is owned by company insiders.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its position in shares of e.l.f. Beauty by 51.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company’s stock worth $1,005,584,000 after buying an additional 2,703,742 shares during the period. Champlain Investment Partners LLC acquired a new position in shares of e.l.f. Beauty in the third quarter worth $121,558,000. Swedbank AB acquired a new position in e.l.f. Beauty during the 3rd quarter worth $76,321,000. William Blair Investment Management LLC increased its holdings in e.l.f. Beauty by 40.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company’s stock worth $289,437,000 after purchasing an additional 669,321 shares during the period. Finally, Aspex Management HK Ltd acquired a new stake in e.l.f. Beauty in the 4th quarter valued at about $73,576,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 3.0 %

The firm has a market cap of $3.73 billion, a PE ratio of 39.11, a PEG ratio of 6.76 and a beta of 1.60. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average price of $90.83 and a 200-day moving average price of $109.97.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. Research analysts forecast that e.l.f. Beauty, Inc. will post 2.38 EPS for the current fiscal year.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.