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

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

A number of other brokerages have also recently issued reports on ELF. Robert W. Baird reduced their price objective on shares of 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. Jefferies Financial Group dropped their price target on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Bank of America decreased their price objective on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 target price (up previously from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. Finally, Morgan Stanley decreased their price target on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $171.82.

e.l.f. Beauty Stock Performance

Shares of ELF opened at $127.20 on Wednesday. e.l.f. Beauty has a one year low of $98.50 and a one year high of $221.83. The company has a market cap of $7.17 billion, a PE ratio of 68.76, a P/E/G ratio of 3.03 and a beta of 1.49. The stock has a 50-day moving average of $120.80 and a 200-day moving average of $147.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data 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 return on equity of 19.34% and a net margin of 8.87%. The firm had revenue of $301.10 million during the quarter, compared to the consensus estimate of $289.43 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 39.7% on a year-over-year basis. On average, equities research analysts predict that e.l.f. Beauty will post 2.8 EPS for the current fiscal year.

Insider Activity at e.l.f. Beauty

In related news, insider Scott Milsten sold 530 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $137.60, for a total value of $72,928.00. Following the sale, the insider now owns 68,853 shares in the company, valued at approximately $9,474,172.80. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maureen C. Watson sold 785 shares of the business’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 transaction, the director now owns 1,888 shares of the company’s stock, valued at approximately $245,440. The trade was a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,205 shares of company stock worth $297,442. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of e.l.f. Beauty

Large investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. bought a new position in e.l.f. Beauty in the second quarter valued at $232,000. Raymond James & Associates grew its position in e.l.f. Beauty by 21.1% during the second quarter. Raymond James & Associates now owns 123,631 shares of the company’s stock valued at $26,052,000 after acquiring an additional 21,554 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in e.l.f. Beauty during the second quarter valued at approximately $371,000. Baillie Gifford & Co. purchased a new position in shares of e.l.f. Beauty during the second quarter worth approximately $801,693,000. Finally, Silvant Capital Management LLC bought a new stake in shares of e.l.f. Beauty in the 2nd quarter worth approximately $1,003,000. 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.