e.l.f. Beauty’s (ELF) “Buy” Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of e.l.f. Beauty (NYSE:ELF) in a report released on Wednesday morning,Benzinga reports. DA Davidson currently has a $170.00 target price on the stock.

ELF has been the subject of several other research reports. TD Cowen lowered their target price on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price objective (up previously from $162.00) on shares of e.l.f. Beauty in a research note on Thursday, November 7th. Jefferies Financial Group reduced their target price on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Bank of America dropped their price target on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus cut their price objective on e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $170.65.

e.l.f. Beauty Stock Performance

ELF stock opened at $140.60 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. e.l.f. Beauty has a twelve month low of $98.50 and a twelve month high of $221.83. The business’s fifty day moving average is $118.27 and its 200-day moving average is $149.58. The company has a market cap of $7.92 billion, a P/E ratio of 76.00, a price-to-earnings-growth ratio of 3.03 and a beta of 1.49.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The firm had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The company’s revenue was up 39.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 earnings per share. Equities research analysts forecast that e.l.f. Beauty will post 2.8 EPS for the current year.

Insider Activity

In related news, CEO Tarang Amin sold 890 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 99,699 shares of the company’s stock, valued at approximately $13,718,582.40. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Milsten sold 530 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $137.60, for a total transaction of $72,928.00. Following the transaction, the insider now owns 68,853 shares in the company, valued at approximately $9,474,172.80. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,205 shares of company stock worth $297,442 in the last quarter. Corporate insiders own 3.50% of the company’s stock.

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

Several hedge funds have recently bought and sold shares of ELF. Baillie Gifford & Co. acquired a new position in e.l.f. Beauty during the second quarter worth approximately $801,693,000. Champlain Investment Partners LLC acquired a new position in shares of e.l.f. Beauty during the 3rd quarter worth approximately $121,558,000. Swedbank AB bought a new stake in e.l.f. Beauty in the 3rd quarter valued at $76,321,000. Clearbridge Investments LLC lifted its holdings in e.l.f. Beauty by 84.4% during 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 last quarter. Finally, Thrivent Financial for Lutherans boosted its position in e.l.f. Beauty by 223.2% during the third quarter. Thrivent Financial for Lutherans now owns 555,287 shares of the company’s stock worth $60,543,000 after purchasing an additional 383,478 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.