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

DA Davidson reiterated their buy rating on shares of e.l.f. Beauty (NYSE:ELF) in a report published on Wednesday morning, Benzinga reports. They currently have a $223.00 target price on the stock.

Several other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the company a hold rating in a research report on Monday, July 22nd. Robert W. Baird raised their price target on shares of e.l.f. Beauty from $230.00 to $240.00 and gave the company an outperform rating in a report on Friday, August 9th. Canaccord Genuity Group upped their price objective on e.l.f. Beauty from $214.00 to $250.00 and gave the stock a buy rating in a report on Tuesday, June 18th. Baird R W raised e.l.f. Beauty from a hold rating to a strong-buy rating in a research note on Thursday, July 18th. Finally, Truist Financial upped their price target on e.l.f. Beauty from $200.00 to $210.00 and gave the company a buy rating in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, e.l.f. Beauty has a consensus rating of Moderate Buy and an average target price of $198.80.

e.l.f. Beauty Stock Performance

NYSE ELF opened at $112.91 on Wednesday. e.l.f. Beauty has a 1-year low of $88.47 and a 1-year high of $221.83. The company has a 50 day moving average of $153.71 and a 200-day moving average of $174.39. The company has a current ratio of 1.77, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 50.86, a PEG ratio of 2.37 and a beta of 1.45.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 23.30% and a net margin of 10.80%. On average, equities analysts forecast that e.l.f. Beauty will post 2.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 548 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $175.00, for a total value of $95,900.00. Following the completion of the transaction, the chief executive officer now owns 214,507 shares of the company’s stock, valued at approximately $37,538,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,370 shares of e.l.f. Beauty stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $201.28, for a total value of $678,313.60. Following the transaction, the senior vice president now owns 71,986 shares of the company’s stock, valued at $14,489,342.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Tarang Amin sold 548 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $95,900.00. Following the completion of the transaction, the chief executive officer now owns 214,507 shares of the company’s stock, valued at approximately $37,538,725. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,304 shares of company stock worth $3,864,492. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On e.l.f. Beauty

Several institutional investors have recently added to or reduced their stakes in ELF. Ashton Thomas Private Wealth LLC bought a new position in e.l.f. Beauty during the 2nd quarter worth about $26,000. Matrix Trust Co bought a new position in shares of e.l.f. Beauty during the second quarter worth about $27,000. Innealta Capital LLC acquired a new stake in e.l.f. Beauty in the 2nd quarter valued at approximately $30,000. Harbor Investment Advisory LLC bought a new stake in e.l.f. Beauty in the 1st quarter valued at approximately $31,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in e.l.f. Beauty by 405.9% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock worth $36,000 after acquiring an additional 138 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

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.