e.l.f. Beauty (NYSE:ELF) Price Target Cut to $130.00 by Analysts at Truist Financial

e.l.f. Beauty (NYSE:ELF) had its target price lowered by Truist Financial from $210.00 to $130.00 in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on ELF. Baird R W upgraded shares of e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 18th. Canaccord Genuity Group increased their price target on shares of 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. B. Riley initiated coverage on shares of e.l.f. Beauty in a research report on Tuesday, September 10th. They set a “buy” rating and a $175.00 price target on the stock. Morgan Stanley reduced their price target on shares of e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Finally, Raymond James reiterated a “strong-buy” rating and set a $235.00 price target on shares of e.l.f. Beauty in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and an average price target of $191.21.

e.l.f. Beauty Stock Performance

Shares of NYSE:ELF opened at $107.09 on Wednesday. The company’s 50 day moving average price is $129.34 and its two-hundred day moving average price is $162.78. e.l.f. Beauty has a 12-month low of $88.47 and a 12-month high of $221.83. The firm has a market cap of $5.99 billion, a PE ratio of 48.24, a PEG 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.

e.l.f. Beauty (NYSE:ELF) last announced 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. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. The firm had revenue of $324.48 million for the quarter, compared to analyst estimates of $303.60 million. Equities research analysts predict that e.l.f. Beauty will post 2.88 earnings per share for the current year.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is owned by insiders.

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

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of e.l.f. Beauty by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 6,050,649 shares of the company’s stock valued at $873,351,000 after acquiring an additional 79,701 shares during the last quarter. Baillie Gifford & Co. bought a new position in shares of e.l.f. Beauty during the second quarter valued at $801,693,000. William Blair Investment Management LLC raised its stake in shares of e.l.f. Beauty by 12.5% during the second quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company’s stock valued at $318,647,000 after acquiring an additional 168,267 shares during the last quarter. Clearbridge Investments LLC raised its stake 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 acquiring an additional 576,383 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of e.l.f. Beauty during the third quarter valued at $76,321,000. Institutional investors own 92.44% of the company’s stock.

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.