e.l.f. Beauty (NYSE:ELF) Price Target Lowered to $165.00 at Bank of America

e.l.f. Beauty (NYSE:ELF) had its price target reduced by Bank of America from $190.00 to $165.00 in a report published on Tuesday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other brokerages have also weighed in on ELF. JPMorgan Chase & Co. lowered their price objective on e.l.f. Beauty from $207.00 to $167.00 and set an overweight rating for the company in a research report on Friday, October 11th. Raymond James reaffirmed a strong-buy rating and set a $235.00 price objective on shares of e.l.f. Beauty in a research report on Monday, July 22nd. Canaccord Genuity Group raised 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 report on Tuesday, June 18th. B. Riley started coverage on e.l.f. Beauty in a report on Tuesday, September 10th. They set a buy rating and a $175.00 price target for the company. Finally, UBS Group dropped their target price on shares of e.l.f. Beauty from $250.00 to $230.00 and set a buy 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, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $196.93.

e.l.f. Beauty Price Performance

Shares of e.l.f. Beauty stock opened at $109.94 on Tuesday. e.l.f. Beauty has a twelve month low of $88.47 and a twelve month high of $221.83. The firm has a market cap of $6.15 billion, a PE ratio of 49.52, a P/E/G ratio of 2.19 and a beta of 1.43. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $130.84 and a 200 day moving average price of $163.17.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. The company had revenue of $324.48 million for the quarter, compared to analyst estimates of $303.60 million. e.l.f. Beauty had a return on equity of 23.30% and a net margin of 10.80%. Sell-side analysts predict that e.l.f. Beauty will post 2.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $136.45, for a total value of $3,210,395.60. Following the completion of the transaction, the chief executive officer now directly owns 106,016 shares of the company’s stock, valued at $14,465,883.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.20% of the company’s stock.

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

A number of hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. purchased a new stake in shares of e.l.f. Beauty in the second quarter valued at $801,693,000. Swedbank AB bought a new stake in e.l.f. Beauty in the third quarter worth approximately $76,321,000. Clearbridge Investments LLC bought a new stake in e.l.f. Beauty in the first quarter worth $133,940,000. 1832 Asset Management L.P. acquired a new position in shares of e.l.f. Beauty during the 1st quarter valued at about $61,299,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in e.l.f. Beauty by 81.8% during 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 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, 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.