e.l.f. Beauty (NYSE:ELF) Stock Price Up 5.8% – Here’s Why

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) rose 5.8% during trading on Wednesday . The company traded as high as $135.42 and last traded at $134.84. Approximately 453,034 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,964,019 shares. The stock had previously closed at $127.41.

Analysts Set New Price Targets

ELF has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $165.00 target price (up from $162.00) on shares of e.l.f. Beauty in a research note on Thursday, November 7th. Jefferies Financial Group lowered 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 note on Wednesday, October 30th. Stifel Nicolaus lowered their target price 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. TD Cowen lowered their target price on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, Canaccord Genuity Group reduced their price target on shares of e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.53.

e.l.f. Beauty Stock Performance

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 stock has a market capitalization of $7.74 billion, a PE ratio of 72.43, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The firm’s fifty day moving average price is $114.35 and its two-hundred day moving average price is $150.91.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.34. The firm had revenue of $301.10 million during the quarter, compared to analyst estimates of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The business’s quarterly revenue was up 39.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. As a group, equities research analysts forecast that e.l.f. Beauty, Inc. will post 2.8 EPS for the current year.

Insider Buying and Selling

In other e.l.f. Beauty news, Director Maureen C. Watson sold 785 shares of e.l.f. Beauty stock in a transaction 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 sale, the director now owns 1,888 shares of the company’s stock, valued at $245,440. The trade was a 29.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $136.45, for a total transaction 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 disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELF. Picton Mahoney Asset Management boosted its position 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 acquiring an additional 75 shares during the last quarter. Hanseatic Management Services Inc. boosted its position in shares of 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 valued at $950,000 after acquiring an additional 77 shares during the last quarter. Portside Wealth Group LLC boosted its position in shares of e.l.f. Beauty by 3.2% during the 2nd quarter. Portside Wealth Group LLC now owns 2,982 shares of the company’s stock valued at $628,000 after acquiring an additional 93 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of e.l.f. Beauty by 27.8% during the 2nd quarter. GAMMA Investing LLC now owns 451 shares of the company’s stock valued at $95,000 after acquiring an additional 98 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its position in shares of e.l.f. Beauty by 2.1% during 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 during the last quarter. Institutional investors and hedge funds 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.