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

DA Davidson reiterated their buy rating on shares of e.l.f. Beauty (NYSE:ELF) in a report released on Tuesday, Benzinga reports. The firm currently has a $223.00 price target on the stock.

ELF has been the subject of several other reports. JPMorgan Chase & Co. reduced their price target on e.l.f. Beauty from $207.00 to $167.00 and set an “overweight” rating for the company in a report on Friday, October 11th. UBS Group lowered their price objective on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Morgan Stanley lowered their price objective on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Piper Sandler lowered their price target on e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, TD Cowen lowered their price target 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, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and an average price target of $183.80.

e.l.f. Beauty Stock Performance

e.l.f. Beauty stock opened at $103.16 on Tuesday. The firm has a 50 day simple moving average of $116.65 and a 200-day simple moving average of $157.74. e.l.f. Beauty has a 1-year low of $90.34 and a 1-year high of $221.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 49.12, a price-to-earnings-growth ratio of 2.27 and a beta of 1.43.

e.l.f. Beauty (NYSE:ELF) last released 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. 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 net margin of 10.80% and a return on equity of 23.30%. On average, analysts expect that e.l.f. Beauty will post 2.88 EPS for the current year.

Insider Buying and Selling at e.l.f. Beauty

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 value of $95,900.00. Following the transaction, the chief executive officer now directly owns 214,507 shares in the company, valued at approximately $37,538,725. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new position in e.l.f. Beauty in the 2nd quarter worth $6,659,000. Cetera Investment Advisers raised its holdings in shares of e.l.f. Beauty by 33.8% in the 2nd quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock valued at $8,285,000 after purchasing an additional 9,939 shares during the period. Clearbridge Investments LLC raised its holdings in shares of e.l.f. Beauty by 84.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after purchasing an additional 576,383 shares during the period. Swiss National Bank raised its holdings in shares of e.l.f. Beauty by 0.5% in the 1st quarter. Swiss National Bank now owns 108,900 shares of the company’s stock valued at $21,348,000 after purchasing an additional 500 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of e.l.f. Beauty by 55.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 730,377 shares of the company’s stock valued at $79,633,000 after purchasing an additional 261,707 shares during the period. 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.