e.l.f. Beauty (NYSE:ELF) Trading Up 6% – Here’s Why

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) shot up 6% on Monday . The stock traded as high as $116.55 and last traded at $116.33. 1,616,295 shares were traded during trading, a decline of 10% from the average session volume of 1,793,100 shares. The stock had previously closed at $109.72.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ELF shares. Raymond James reissued a “strong-buy” rating and set a $235.00 price objective on shares of e.l.f. Beauty in a research note on Monday, July 22nd. B. Riley started coverage on e.l.f. Beauty in a research note on Tuesday, September 10th. They issued a “buy” rating and a $175.00 price target for the company. UBS Group reduced their target price on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Morgan Stanley decreased their target price on shares of 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. Finally, Canaccord Genuity Group raised their target price on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, e.l.f. Beauty currently has an average rating of “Moderate Buy” and a consensus price target of $191.21.

e.l.f. Beauty Price Performance

The stock has a fifty day moving average of $130.84 and a two-hundred day moving average of $163.17. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 0.23. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 49.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. The firm had revenue of $324.48 million during the quarter, compared to the consensus estimate of $303.60 million. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. On average, equities research analysts anticipate that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $136.45, for a total value of $3,210,395.60. Following the transaction, the chief executive officer now directly owns 106,016 shares in the company, valued at $14,465,883.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.20% of the company’s stock.

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

A number of institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new stake in shares of e.l.f. Beauty during the second quarter valued at approximately $6,659,000. Cetera Investment Advisers raised its holdings in shares of e.l.f. Beauty by 33.8% in the second quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock valued at $8,285,000 after buying an additional 9,939 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of e.l.f. Beauty by 5.2% during the fourth quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock valued at $366,744,000 after purchasing an additional 126,231 shares during the last quarter. Clearbridge Investments LLC raised 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 worth $265,432,000 after acquiring an additional 576,383 shares during the last quarter. Finally, Swiss National Bank lifted its position in e.l.f. Beauty by 0.5% during the 1st quarter. Swiss National Bank now owns 108,900 shares of the company’s stock valued at $21,348,000 after purchasing an additional 500 shares during the period. 92.44% of the stock is currently owned by institutional investors.

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.