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

e.l.f. Beauty, Inc. (NYSE:ELF)’s stock price gapped down before the market opened on Monday after Piper Sandler lowered their price target on the stock from $260.00 to $162.00. The stock had previously closed at $116.63, but opened at $110.00. Piper Sandler currently has an overweight rating on the stock. e.l.f. Beauty shares last traded at $114.50, with a volume of 553,969 shares traded.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of e.l.f. Beauty from $224.00 to $207.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Truist Financial upped their price target on e.l.f. Beauty from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. TD Cowen lowered their price objective on e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday. Stifel Nicolaus upped their target price on shares of 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. Finally, DA Davidson reissued a “buy” rating and set a $223.00 price target on shares of e.l.f. Beauty in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and an average target price of $198.80.

Insider Activity

In related news, CEO Tarang Amin sold 15,386 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $200.85, for a total transaction of $3,090,278.10. Following the completion of the transaction, the chief executive officer now owns 171,329 shares in the company, valued at $34,411,429.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,370 shares of the 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 filing with the SEC, which is accessible through this hyperlink. Also, CEO Tarang Amin sold 15,386 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $200.85, for a total transaction of $3,090,278.10. Following the transaction, the chief executive officer now owns 171,329 shares in the company, valued at $34,411,429.65. The disclosure for this sale can be found here. Insiders have sold 19,304 shares of company stock worth $3,864,492 over the last ninety days. Insiders own 5.20% of the company’s stock.

Institutional Trading of e.l.f. Beauty

Several institutional investors and hedge funds have recently bought and sold shares of ELF. Baillie Gifford & Co. bought a new position in shares of 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 bought a new position in e.l.f. Beauty during the fourth quarter worth $95,611,000. 1832 Asset Management L.P. acquired a new position in shares of e.l.f. Beauty in the first quarter valued at $61,299,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of e.l.f. Beauty by 81.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 468,670 shares of the company’s stock valued at $98,758,000 after purchasing an additional 210,873 shares during the period. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 1.5 %

The firm has a market cap of $6.48 billion, a P/E ratio of 52.54, a P/E/G ratio of 2.37 and a beta of 1.44. The firm’s fifty day moving average is $162.94 and its 200 day moving average is $177.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.77.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $324.48 million during the quarter, compared to analysts’ expectations of $303.60 million. As a group, equities research analysts anticipate that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current fiscal year.

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.