e.l.f. Beauty (NYSE:ELF) Shares Gap Up – Still a Buy?

e.l.f. Beauty, Inc. (NYSE:ELF)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $62.79, but opened at $64.41. e.l.f. Beauty shares last traded at $63.53, with a volume of 282,060 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ELF. DA Davidson reduced their price objective on e.l.f. Beauty from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Truist Financial increased their price target on e.l.f. Beauty from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Stifel Nicolaus lowered their price objective on e.l.f. Beauty from $115.00 to $105.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Raymond James cut their target price on shares of e.l.f. Beauty from $175.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Friday, February 7th. Finally, Morgan Stanley restated an “equal weight” rating and set a $70.00 price target (down from $153.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.24.

e.l.f. Beauty Price Performance

The stock has a market capitalization of $3.69 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 6.76 and a beta of 1.60. The business’s 50-day moving average price is $77.83 and its 200 day moving average price is $105.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.17 and a current ratio of 1.90.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Thursday, February 6th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. Research analysts forecast that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other e.l.f. Beauty news, Director Maureen C. Watson sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $67.39, for a total value of $269,560.00. Following the completion of the transaction, the director now owns 1,888 shares of the company’s stock, valued at $127,232.32. The trade was a 67.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is owned by company insiders.

Institutional Trading of e.l.f. Beauty

A number of hedge funds have recently made changes to their positions in ELF. Nemes Rush Group LLC bought a new position in e.l.f. Beauty in the fourth quarter valued at $27,000. Wilmington Savings Fund Society FSB purchased a new position in shares of e.l.f. Beauty in the 3rd quarter worth about $25,000. Orion Capital Management LLC bought a new position in shares of e.l.f. Beauty during the 4th quarter valued at about $30,000. Promus Capital LLC purchased a new position in shares of e.l.f. Beauty during the 4th quarter valued at about $31,000. Finally, Kestra Investment Management LLC bought a new stake in e.l.f. Beauty in the 4th quarter worth approximately $32,000. 92.44% of the stock is 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.