Truist Financial Issues Positive Forecast for e.l.f. Beauty (NYSE:ELF) Stock Price

e.l.f. Beauty (NYSE:ELF) had its price target hoisted by Truist Financial from $130.00 to $150.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research firms have also issued reports on ELF. Robert W. Baird reduced their target price on e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft initiated coverage on e.l.f. Beauty in a research report on Thursday, December 12th. They set a “hold” rating and a $133.00 target price for the company. TD Cowen dropped their target price on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Stifel Nicolaus decreased their price target on shares of e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Finally, Jefferies Financial Group decreased their target price on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, e.l.f. Beauty has an average rating of “Moderate Buy” and a consensus price target of $171.82.

e.l.f. Beauty Trading Down 0.3 %

NYSE ELF opened at $128.66 on Wednesday. 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 business has a fifty day simple moving average of $121.61 and a 200 day simple moving average of $147.27. e.l.f. Beauty has a 12 month low of $98.50 and a 12 month high of $221.83. The firm has a market capitalization of $7.25 billion, a P/E ratio of 69.55, a PEG ratio of 3.03 and a beta of 1.49.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, beating 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 company had revenue of $301.10 million during the quarter, compared to the consensus estimate of $289.43 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was up 39.7% on a year-over-year basis. On average, analysts predict that e.l.f. Beauty will post 2.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Maureen C. Watson sold 785 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was 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 of the company’s stock, valued at $245,440. This trade represents a 29.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Tarang Amin sold 890 shares of the company’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 value of $122,464.00. Following the transaction, the chief executive officer now directly owns 99,699 shares of the company’s stock, valued at $13,718,582.40. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,205 shares of company stock worth $297,442 in the last ninety days. 3.50% of the stock is owned by insiders.

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

A number of large investors have recently made changes to their positions in ELF. Canada Pension Plan Investment Board bought a new stake in e.l.f. Beauty in the second quarter valued at $6,659,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of e.l.f. Beauty by 1,380.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,284 shares of the company’s stock worth $1,775,000 after purchasing an additional 15,184 shares during the period. Cetera Investment Advisers boosted its stake in shares of e.l.f. Beauty by 33.8% during 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 in the last quarter. Clearbridge Investments LLC increased its position in shares of e.l.f. Beauty by 84.4% during the second quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after buying an additional 576,383 shares during the period. Finally, Congress Asset Management Co. raised its stake in e.l.f. Beauty by 14.2% in the third quarter. Congress Asset Management Co. now owns 503,577 shares of the company’s stock worth $54,905,000 after buying an additional 62,480 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

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.