e.l.f. Beauty’s (ELF) Buy Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their buy rating on shares of e.l.f. Beauty (NYSE:ELF) in a research note issued to investors on Wednesday, Benzinga reports. DA Davidson currently has a $223.00 price target on the stock.

A number of other brokerages have also commented on ELF. Piper Sandler reiterated an overweight rating and issued a $260.00 target price on shares of e.l.f. Beauty in a research report on Monday, August 26th. Bank of America reduced 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 report on Monday, September 9th. Baird R W upgraded shares of e.l.f. Beauty from a hold rating to a strong-buy rating in a research report on Thursday, July 18th. Stifel Nicolaus increased their price target on e.l.f. Beauty from $151.00 to $161.00 and gave the stock a hold rating in a research report on Monday, July 22nd. Finally, Truist Financial upped their target price on e.l.f. Beauty from $200.00 to $210.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $205.33.

e.l.f. Beauty Trading Up 1.7 %

Shares of e.l.f. Beauty stock opened at $116.63 on Wednesday. e.l.f. Beauty has a 12-month low of $88.47 and a 12-month high of $221.83. The firm’s 50 day simple moving average is $162.94 and its two-hundred day simple moving average is $177.71. 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 capitalization of $6.58 billion, a price-to-earnings ratio of 52.54, a PEG ratio of 2.37 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.20. e.l.f. Beauty had a return on equity of 23.30% and a net margin of 10.80%. The company had revenue of $324.48 million during the quarter, compared to analysts’ expectations of $303.60 million. Analysts predict that e.l.f. Beauty will post 2.88 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. grew its holdings in shares of e.l.f. Beauty by 505.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 605 shares of the company’s stock worth $127,000 after buying an additional 505 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in e.l.f. Beauty during the 2nd quarter valued at about $1,102,000. Clearbridge Investments LLC raised its holdings in e.l.f. Beauty by 84.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after acquiring an additional 576,383 shares during the last quarter. Cetera Investment Advisers lifted its stake in e.l.f. Beauty by 33.8% in the 2nd quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock worth $8,285,000 after purchasing an additional 9,939 shares in the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of e.l.f. Beauty by 60.6% during the 2nd quarter. Truist Financial Corp now owns 6,824 shares of the company’s stock worth $1,438,000 after purchasing an additional 2,576 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.