e.l.f. Beauty (NYSE:ELF) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of e.l.f. Beauty (NYSE:ELF) in a research report released on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $165.00 target price on the stock.

A number of other research analysts have also commented on the company. Canaccord Genuity Group decreased their price objective on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and set a $165.00 price objective (up from $162.00) on shares of e.l.f. Beauty in a report on Thursday, November 7th. B. Riley reduced their target price on shares of e.l.f. Beauty from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Stifel Nicolaus dropped their price target on shares of e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Finally, Jefferies Financial Group dropped their target price on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, e.l.f. Beauty has a consensus rating of “Moderate Buy” and a consensus target price of $170.65.

e.l.f. Beauty Stock Up 6.9 %

Shares of ELF opened at $140.60 on Friday. The business’s 50 day simple moving average is $118.27 and its 200-day simple moving average is $149.58. 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 capitalization of $7.92 billion, a P/E ratio of 76.00, a PEG ratio of 3.03 and a beta of 1.49. 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 announced its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $301.10 million during the quarter, compared to analyst estimates of $289.43 million. During the same period last year, the company posted $0.66 earnings per share. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year. As a group, sell-side analysts predict that e.l.f. Beauty will post 2.8 EPS for the current fiscal year.

Insider Buying and Selling at e.l.f. Beauty

In other e.l.f. Beauty news, Director Maureen C. Watson sold 785 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $130.00, for a total transaction of $102,050.00. Following the completion of the sale, the director now directly owns 1,888 shares in the company, valued at $245,440. This trade represents a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tarang Amin sold 890 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $13,718,582.40. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,205 shares of company stock worth $297,442 over the last 90 days. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELF. Picton Mahoney Asset Management increased its holdings in shares of e.l.f. Beauty by 3.2% during the second quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock worth $512,000 after purchasing an additional 75 shares during the period. Hanseatic Management Services Inc. increased its stake in e.l.f. Beauty by 1.7% during 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 during the period. Evergreen Capital Management LLC raised its holdings in e.l.f. Beauty by 2.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company’s stock valued at $1,007,000 after acquiring an additional 99 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at $26,000. Finally, Cetera Trust Company N.A grew its holdings in shares of e.l.f. Beauty by 14.4% during the 3rd quarter. Cetera Trust Company N.A now owns 1,030 shares of the company’s stock worth $112,000 after purchasing an additional 130 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

About e.l.f. Beauty

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.