e.l.f. Beauty (NYSE:ELF) Stock Price Down 3.4% Following Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF)’s share price dropped 3.4% during trading on Monday after DA Davidson lowered their price target on the stock from $80.00 to $75.00. DA Davidson currently has a neutral rating on the stock. e.l.f. Beauty traded as low as $65.40 and last traded at $65.84. Approximately 584,864 shares were traded during trading, a decline of 73% from the average daily volume of 2,202,128 shares. The stock had previously closed at $68.18.

Other research analysts also recently issued research reports about the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $70.00 price objective (down previously from $153.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on e.l.f. Beauty from $154.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Stifel Nicolaus decreased their target price on e.l.f. Beauty from $115.00 to $105.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Canaccord Genuity Group decreased their target price on e.l.f. Beauty from $174.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, B. Riley reissued a “buy” rating and set a $90.00 target price (down previously from $150.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.65.

Insider Buying and Selling at e.l.f. Beauty

In other news, Director Maureen C. Watson sold 4,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $67.39, for a total value of $269,560.00. Following the transaction, the director now directly owns 1,888 shares of the company’s stock, valued at approximately $127,232.32. This represents a 67.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of e.l.f. Beauty

Several hedge funds and other institutional investors have recently bought and sold shares of ELF. Entropy Technologies LP grew its holdings in e.l.f. Beauty by 60.3% during the third quarter. Entropy Technologies LP now owns 3,238 shares of the company’s stock worth $353,000 after acquiring an additional 1,218 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in e.l.f. Beauty by 1,380.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,284 shares of the company’s stock worth $1,775,000 after purchasing an additional 15,184 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in e.l.f. Beauty during the third quarter worth approximately $45,000. RiverPark Advisors LLC purchased a new position in e.l.f. Beauty during the third quarter worth approximately $103,000. Finally, Thrivent Financial for Lutherans boosted its position in e.l.f. Beauty by 223.2% during the third quarter. Thrivent Financial for Lutherans now owns 555,287 shares of the company’s stock worth $60,543,000 after purchasing an additional 383,478 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

e.l.f. Beauty Stock Down 3.7 %

The company has a market cap of $3.70 billion, a PE ratio of 38.89, a P/E/G ratio of 6.76 and a beta of 1.60. The business has a 50-day simple moving average of $92.02 and a 200-day simple moving average of $110.56. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. Equities research analysts anticipate that e.l.f. Beauty, Inc. will post 2.38 EPS for the current 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.