DA Davidson Reaffirms “Buy” Rating for e.l.f. Beauty (NYSE:ELF)

e.l.f. Beauty (NYSE:ELF)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a research note issued on Wednesday, Benzinga reports. They currently have a $223.00 price target on the stock. DA Davidson’s target price points to a potential upside of 94.39% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on ELF. Canaccord Genuity Group raised their target price on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Robert W. Baird raised their target price on shares of e.l.f. Beauty from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Canaccord Genuity Group raised their target price on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Piper Sandler decreased their target price on shares of e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on shares of e.l.f. Beauty from $224.00 to $207.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.80.

e.l.f. Beauty Trading Up 2.0 %

Shares of NYSE ELF traded up $2.29 during midday trading on Wednesday, reaching $114.72. 1,332,378 shares of the stock were exchanged, compared to its average volume of 1,738,426. The company has a market capitalization of $6.42 billion, a P/E ratio of 51.51, a P/E/G ratio of 2.37 and a beta of 1.45. e.l.f. Beauty has a 52-week low of $88.47 and a 52-week high of $221.83. The company has a current ratio of 1.77, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average price of $159.25 and a 200-day moving average price of $176.11.

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

Insider Buying and Selling

In related news, SVP Joshua Allen Franks sold 3,370 shares of e.l.f. Beauty stock in a transaction on Monday, July 15th. The shares were sold at an average price of $201.28, for a total value of $678,313.60. Following the completion of the sale, the senior vice president now owns 71,986 shares in the company, valued at $14,489,342.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Joshua Allen Franks sold 3,370 shares of e.l.f. Beauty stock in a transaction on Monday, July 15th. The shares were sold at an average price of $201.28, for a total value of $678,313.60. Following the completion of the sale, the senior vice president now owns 71,986 shares in the company, valued at $14,489,342.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tarang Amin sold 548 shares of e.l.f. Beauty stock in a transaction on Monday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $95,900.00. Following the completion of the sale, the chief executive officer now owns 214,507 shares of the company’s stock, 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 worth $3,864,492. Insiders own 5.20% of the company’s stock.

Institutional Trading of e.l.f. Beauty

Institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC bought a new stake in e.l.f. Beauty during the second quarter valued at $26,000. Matrix Trust Co bought a new stake in e.l.f. Beauty during the second quarter valued at $27,000. Innealta Capital LLC bought a new stake in e.l.f. Beauty during the second quarter valued at $30,000. Harbor Investment Advisory LLC acquired a new position in shares of e.l.f. Beauty during the first quarter valued at $31,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of 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 valued at $36,000 after acquiring an additional 138 shares during the period. Institutional investors own 92.44% of the company’s stock.

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.