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

e.l.f. Beauty (NYSE:ELF)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a report released on Tuesday, Benzinga reports. They currently have a $223.00 price target on the stock. DA Davidson’s price objective indicates a potential upside of 103.97% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. UBS Group cut their target price on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 9th. TD Cowen reduced 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. Raymond James reaffirmed a “strong-buy” rating and issued a $235.00 price target on shares of e.l.f. Beauty in a report on Monday, July 22nd. B. Riley initiated coverage on e.l.f. Beauty in a research report on Tuesday, September 10th. They set a “buy” rating and a $175.00 price objective on the stock. Finally, Morgan Stanley reduced their price target on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, e.l.f. Beauty presently has an average rating of “Moderate Buy” and a consensus price target of $183.80.

e.l.f. Beauty Price Performance

e.l.f. Beauty stock opened at $109.33 on Tuesday. e.l.f. Beauty has a 52-week low of $88.47 and a 52-week high of $221.83. The stock’s 50 day moving average price is $119.30 and its two-hundred day moving average price is $158.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.77. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 49.25, a PEG ratio of 2.22 and a beta of 1.43.

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

Insiders Place Their Bets

In related news, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is owned by insiders.

Institutional Trading of e.l.f. Beauty

Several institutional investors have recently made changes to their positions in ELF. Ashton Thomas Private Wealth LLC purchased a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at approximately $26,000. Matrix Trust Co acquired a new stake in e.l.f. Beauty in the 2nd quarter valued at approximately $27,000. Innealta Capital LLC acquired a new stake in e.l.f. Beauty in the 2nd quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. increased its holdings in e.l.f. Beauty by 405.9% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock valued at $36,000 after purchasing an additional 138 shares during the last quarter. Finally, Crewe Advisors LLC increased its holdings in e.l.f. Beauty by 456.3% in the 2nd quarter. Crewe Advisors LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 146 shares during the last quarter. Hedge funds and other 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.