Shares of e.l.f. Beauty, Inc. (NYSE:ELF – Get Free Report) were down 2.7% during mid-day trading on Monday after Piper Sandler lowered their price target on the stock from $260.00 to $162.00. Piper Sandler currently has an overweight rating on the stock. e.l.f. Beauty traded as low as $109.35 and last traded at $113.52. Approximately 984,951 shares were traded during trading, a decline of 43% from the average daily volume of 1,730,540 shares. The stock had previously closed at $116.63.
A number of other equities analysts have also commented on the company. Robert W. Baird boosted their price objective on e.l.f. Beauty from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. TD Cowen reduced their price target on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday. Raymond James reissued a “strong-buy” rating and set a $235.00 price objective on shares of e.l.f. Beauty in a report on Monday, July 22nd. Bank of America dropped their target price on shares of e.l.f. Beauty from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Finally, Baird R W raised shares of e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, e.l.f. Beauty presently has an average rating of “Moderate Buy” and a consensus price target of $198.80.
Insider Buying and Selling at e.l.f. Beauty
In related news, SVP Joshua Allen Franks sold 3,370 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $201.28, for a total transaction of $678,313.60. Following the completion of the transaction, the senior vice president now owns 71,986 shares in the company, valued at $14,489,342.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,370 shares of e.l.f. Beauty stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the transaction, the senior vice president now directly owns 71,986 shares in the company, valued at $14,489,342.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Tarang Amin sold 548 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $175.00, for a total value of $95,900.00. Following the completion of the sale, the chief executive officer now owns 214,507 shares of the company’s stock, valued at $37,538,725. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,304 shares of company stock valued at $3,864,492. 5.20% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of ELF. Baillie Gifford & Co. bought a new stake in shares of e.l.f. Beauty in the second quarter valued at about $801,693,000. Clearbridge Investments LLC acquired a new stake in e.l.f. Beauty in the 1st quarter valued at approximately $133,940,000. Norges Bank bought a new stake in e.l.f. Beauty in the 4th quarter valued at approximately $95,611,000. 1832 Asset Management L.P. acquired a new position in e.l.f. Beauty during the 1st quarter worth approximately $61,299,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of e.l.f. Beauty by 81.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 468,670 shares of the company’s stock worth $98,758,000 after acquiring an additional 210,873 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.
e.l.f. Beauty Stock Down 2.9 %
The stock’s fifty day moving average price is $162.94 and its 200-day moving average price is $177.52. 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 company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 50.65, a P/E/G ratio of 2.37 and a beta of 1.44.
e.l.f. Beauty (NYSE:ELF – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.67 by $0.20. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. The firm had revenue of $324.48 million for the quarter, compared to analysts’ expectations of $303.60 million. On average, sell-side analysts predict that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current fiscal year.
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.