e.l.f. Beauty (NYSE:ELF) Trading 3.5% Higher

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) rose 3.5% during mid-day trading on Wednesday . The stock traded as high as $170.00 and last traded at $167.01. Approximately 580,905 shares changed hands during trading, a decline of 65% from the average daily volume of 1,658,635 shares. The stock had previously closed at $161.33.

Analyst Ratings Changes

ELF has been the topic of several research reports. Stifel Nicolaus upped their target price on e.l.f. Beauty from $151.00 to $161.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Canaccord Genuity Group increased their price objective on 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. Canaccord Genuity Group boosted their target price on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Bank of America upped their price target on shares of e.l.f. Beauty from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Robert W. Baird boosted their price objective on shares of e.l.f. Beauty from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, e.l.f. Beauty has an average rating of “Moderate Buy” and a consensus price target of $216.43.

e.l.f. Beauty Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 1.60. The firm has a market cap of $9.56 billion, a P/E ratio of 76.38, a P/E/G ratio of 3.66 and a beta of 1.46. The company’s 50 day moving average is $184.99 and its 200 day moving average is $182.10.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. The company had revenue of $321.14 million during the quarter, compared to analysts’ expectations of $292.47 million. e.l.f. Beauty had a return on equity of 26.64% and a net margin of 12.47%. As a group, equities analysts predict that e.l.f. Beauty, Inc. will post 2.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 548 shares of e.l.f. Beauty stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $95,900.00. Following the sale, the chief executive officer now directly owns 214,507 shares of the company’s stock, valued at $37,538,725. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Tarang Amin sold 548 shares of e.l.f. Beauty stock in a transaction on Monday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $95,900.00. Following the transaction, the chief executive officer now owns 214,507 shares in the company, valued at $37,538,725. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Joshua Allen Franks sold 3,370 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the completion of the sale, the senior vice president now directly owns 71,986 shares in the company, valued at approximately $14,489,342.08. The disclosure for this sale can be found here. Insiders sold a total of 97,390 shares of company stock valued at $18,264,873 in the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On e.l.f. Beauty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. bought a new position in e.l.f. Beauty during the 2nd quarter worth approximately $801,693,000. Clearbridge Investments LLC bought a new position in e.l.f. Beauty during the first quarter worth $133,940,000. Norges Bank acquired a new position in e.l.f. Beauty in the fourth quarter valued at $95,611,000. 1832 Asset Management L.P. bought a new stake in e.l.f. Beauty during the first quarter valued at $61,299,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in e.l.f. Beauty by 81.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 468,670 shares of the company’s stock worth $98,758,000 after acquiring an additional 210,873 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

About e.l.f. Beauty

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.