e.l.f. Beauty (NYSE:ELF) Shares Gap Up – Here’s Why

e.l.f. Beauty, Inc. (NYSE:ELF)’s stock price gapped up before the market opened 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 Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group restated a “neutral” rating and issued a $74.00 price target (down previously from $158.00) on shares of e.l.f. Beauty in a research report on Friday, February 7th. DA Davidson dropped their target price on shares of e.l.f. Beauty from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Canaccord Genuity Group cut their price target on shares of e.l.f. Beauty from $174.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Truist Financial lifted their price objective on e.l.f. Beauty from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Raymond James cut their target price on e.l.f. Beauty from $175.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued 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 price target of $130.24.

e.l.f. Beauty Trading Up 4.2 %

The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.69 billion, a P/E ratio of 38.71, a P/E/G ratio of 6.76 and a beta of 1.60. The firm’s 50-day moving average price is $77.83 and its 200 day moving average price is $105.40.

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

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, Director Maureen C. Watson sold 4,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 1,888 shares of the company’s stock, valued at approximately $127,232.32. This represents a 67.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.50% of the stock is currently owned by insiders.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in e.l.f. Beauty during the third quarter worth $25,000. Nemes Rush Group LLC bought a new stake in shares of e.l.f. Beauty during the 4th quarter worth $27,000. Orion Capital Management LLC purchased a new position in shares of e.l.f. Beauty in the 4th quarter worth about $30,000. Promus Capital LLC bought a new position in e.l.f. Beauty during the fourth quarter valued at about $31,000. Finally, Kestra Investment Management LLC purchased a new stake in e.l.f. Beauty during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.