DA Davidson Reaffirms Buy Rating for e.l.f. Beauty (NYSE:ELF)

e.l.f. Beauty (NYSE:ELF)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a report released on Monday,Benzinga reports. They presently have a $170.00 target price on the stock. DA Davidson’s target price suggests a potential upside of 34.47% from the stock’s current price.

Several other research analysts have also commented on the company. Piper Sandler reissued an “overweight” rating and set a $165.00 price objective (up previously from $162.00) on shares of e.l.f. Beauty in a report on Thursday, November 7th. Morgan Stanley decreased 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 report on Monday, September 30th. UBS Group reduced their target price on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. dropped their price target on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, TD Cowen reduced their price objective on e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.53.

e.l.f. Beauty Price Performance

Shares of NYSE ELF opened at $126.42 on Monday. e.l.f. Beauty has a 1-year low of $98.50 and a 1-year high of $221.83. The stock has a fifty day simple moving average of $112.24 and a two-hundred day simple moving average of $152.67. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 68.34, a price-to-earnings-growth ratio of 2.77 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results 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 net margin of 8.87% and a return on equity of 19.34%. The firm had revenue of $301.10 million during the quarter, compared to the consensus estimate of $289.43 million. During the same period last year, the firm earned $0.66 EPS. The business’s quarterly revenue was up 39.7% compared to the same quarter last year. Analysts anticipate that e.l.f. Beauty will post 2.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 106,016 shares in the company, valued at approximately $14,465,883.20. This trade represents a 18.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Institutional Trading of e.l.f. Beauty

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management boosted its stake in shares of e.l.f. Beauty by 3.2% during the 2nd quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock valued at $512,000 after purchasing an additional 75 shares in the last quarter. Hanseatic Management Services Inc. raised its position in shares of e.l.f. Beauty by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock worth $950,000 after acquiring an additional 77 shares in the last quarter. Portside Wealth Group LLC lifted its stake in shares of e.l.f. Beauty by 3.2% in the 2nd quarter. Portside Wealth Group LLC now owns 2,982 shares of the company’s stock valued at $628,000 after purchasing an additional 93 shares during the period. GAMMA Investing LLC boosted its position in shares of e.l.f. Beauty by 27.8% during the second quarter. GAMMA Investing LLC now owns 451 shares of the company’s stock valued at $95,000 after purchasing an additional 98 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in e.l.f. Beauty by 2.1% in the second quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company’s stock worth $1,007,000 after purchasing an additional 99 shares during the period. Hedge funds and other 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.