e.l.f. Beauty (NYSE:ELF) Stock Price Down 5.3% Following Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF) was down 5.3% on Tuesday after Stifel Nicolaus lowered their price target on the stock from $115.00 to $105.00. Stifel Nicolaus currently has a hold rating on the stock. e.l.f. Beauty traded as low as $88.09 and last traded at $88.53. Approximately 987,031 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 1,758,759 shares. The stock had previously closed at $93.44.

Several other analysts have also recently issued reports on ELF. The Goldman Sachs Group started coverage on e.l.f. Beauty in a research note on Friday, December 13th. They set a “buy” rating and a $165.00 price objective on the stock. Jefferies Financial Group dropped their price target on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Robert W. Baird decreased their price objective on e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Bank of America lowered their price target on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on e.l.f. Beauty in a research report on Thursday, December 12th. They set a “hold” rating and a $133.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.47.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 890 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $137.60, for a total value of $122,464.00. Following the transaction, the chief executive officer now owns 99,699 shares in the company, valued at $13,718,582.40. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott Milsten sold 530 shares of e.l.f. Beauty stock in a transaction on Friday, December 6th. The shares were sold at an average price of $137.60, for a total transaction of $72,928.00. Following the completion of the sale, the insider now directly owns 68,853 shares of the company’s stock, valued at approximately $9,474,172.80. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,205 shares of company stock valued at $297,442 over the last three months. 3.50% of the stock is owned by insiders.

Institutional Trading of e.l.f. Beauty

A number of institutional investors have recently modified their holdings of ELF. Truist Financial Corp increased its holdings in shares of e.l.f. Beauty by 60.6% in the 2nd quarter. Truist Financial Corp now owns 6,824 shares of the company’s stock worth $1,438,000 after buying an additional 2,576 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of 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 during the period. Sanctuary Advisors LLC purchased a new position in e.l.f. Beauty during the 2nd quarter valued at about $1,102,000. Park Avenue Securities LLC lifted its position in e.l.f. Beauty by 41.2% during the 3rd quarter. Park Avenue Securities LLC now owns 7,377 shares of the company’s stock valued at $804,000 after acquiring an additional 2,151 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in e.l.f. Beauty by 18.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 14,600 shares of the company’s stock valued at $1,592,000 after acquiring an additional 2,300 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

e.l.f. Beauty Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $4.97 billion, a PE ratio of 47.72, a PEG ratio of 1.74 and a beta of 1.47. The firm’s fifty day simple moving average is $126.69 and its 200-day simple moving average is $130.36.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data 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. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The firm had revenue of $301.10 million during the quarter, compared to analysts’ expectations of $289.43 million. During the same period in the previous year, the company earned $0.66 earnings per share. The firm’s quarterly revenue was up 39.7% on a year-over-year basis. On average, research analysts forecast that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current fiscal year.

e.l.f. Beauty Company Profile

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.