JPMorgan Chase & Co. Forecasts Strong Price Appreciation for e.l.f. Beauty (NYSE:ELF) Stock

e.l.f. Beauty (NYSE:ELF) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $154.00 to $163.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 26.44% from the stock’s previous close.

Several other brokerages have also weighed in on ELF. The Goldman Sachs Group assumed coverage on shares of e.l.f. Beauty in a research report on Friday, December 13th. They issued a “buy” rating and a $165.00 price objective on the stock. Truist Financial increased their price objective on shares of e.l.f. Beauty from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. DA Davidson reissued a “buy” rating and issued a $170.00 price objective on shares of e.l.f. Beauty in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of e.l.f. Beauty in a research report on Thursday, December 12th. They issued a “hold” rating and a $133.00 price objective on the stock. Finally, Jefferies Financial Group dropped their price objective on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.29.

e.l.f. Beauty Stock Performance

NYSE ELF opened at $128.91 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average price is $128.27 and its two-hundred day moving average price is $138.03. e.l.f. Beauty has a 1 year low of $98.50 and a 1 year high of $221.83. The firm has a market capitalization of $7.26 billion, a P/E ratio of 69.68, a price-to-earnings-growth ratio of 2.17 and a beta of 1.50.

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

Insider Activity

In other news, Director Maureen C. Watson sold 785 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $130.00, for a total value of $102,050.00. Following the sale, the director now directly owns 1,888 shares in the company, valued at approximately $245,440. This trade represents a 29.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tarang Amin sold 890 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $137.60, for a total transaction of $122,464.00. Following the completion of the sale, the chief executive officer now owns 99,699 shares in the company, valued at approximately $13,718,582.40. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,205 shares of company stock worth $297,442. Corporate insiders own 3.50% of the company’s stock.

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

Hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in e.l.f. Beauty in the 3rd quarter valued at approximately $25,000. Planning Capital Management Corp raised its holdings in e.l.f. Beauty by 1,855.0% in the 3rd quarter. Planning Capital Management Corp now owns 391 shares of the company’s stock valued at $43,000 after buying an additional 371 shares during the last quarter. nVerses Capital LLC bought a new position in e.l.f. Beauty in the 3rd quarter valued at approximately $44,000. Peterson Financial Group Inc. bought a new position in e.l.f. Beauty in the 3rd quarter valued at approximately $45,000. Finally, Blue Trust Inc. raised its holdings in e.l.f. Beauty by 2,357.1% in the 3rd quarter. Blue Trust Inc. now owns 516 shares of the company’s stock valued at $56,000 after buying an additional 495 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

About e.l.f. Beauty

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.