e.l.f. Beauty (NYSE:ELF) Upgraded by Baird R W to Strong-Buy

e.l.f. Beauty (NYSE:ELF) was upgraded by investment analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks.com reports.

A number of other research analysts also recently issued reports on ELF. Canaccord Genuity Group boosted their price target on e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Piper Sandler upped their target price on e.l.f. Beauty from $210.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Truist Financial lifted their price target on shares of e.l.f. Beauty from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Raymond James restated a “strong-buy” rating and issued a $235.00 price objective (up from $215.00) on shares of e.l.f. Beauty in a report on Friday, June 14th. Finally, Canaccord Genuity Group lifted their target price on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.29.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $177.52 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 1.60. e.l.f. Beauty has a fifty-two week low of $88.47 and a fifty-two week high of $221.83. The firm has a market cap of $9.93 billion, a PE ratio of 79.96, a price-to-earnings-growth ratio of 3.75 and a beta of 1.46. The business has a 50 day moving average price of $190.36 and a 200-day moving average price of $179.91.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.16. e.l.f. Beauty had a net margin of 12.47% and a return on equity of 26.64%. The business had revenue of $321.14 million during the quarter, compared to analysts’ expectations of $292.47 million. Equities research analysts predict that e.l.f. Beauty will post 2.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Joshua Allen Franks sold 12,506 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $172.50, for a total value of $2,157,285.00. Following the completion of the sale, the senior vice president now owns 86,237 shares in the company, valued at approximately $14,875,882.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Tarang Amin sold 23,519 shares of e.l.f. Beauty stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.70, for a total value of $3,850,060.30. Following the completion of the sale, the chief executive officer now directly owns 10,890 shares in the company, valued at $1,782,693. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joshua Allen Franks sold 12,506 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $172.50, for a total value of $2,157,285.00. Following the sale, the senior vice president now owns 86,237 shares of the company’s stock, valued at approximately $14,875,882.50. The disclosure for this sale can be found here. Insiders sold 134,117 shares of company stock valued at $24,394,943 over the last three months. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On e.l.f. Beauty

Hedge funds have recently modified their holdings of the stock. Matrix Trust Co purchased a new position in shares of e.l.f. Beauty in the second quarter worth $27,000. Armstrong Advisory Group Inc. raised its stake in e.l.f. Beauty by 390.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock worth $29,000 after acquiring an additional 160 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in e.l.f. Beauty during the 1st quarter worth about $31,000. Oakworth Capital Inc. purchased a new stake in e.l.f. Beauty during the 1st quarter valued at about $33,000. Finally, GPS Wealth Strategies Group LLC increased its holdings in shares of e.l.f. Beauty by 66.4% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 243 shares of the company’s stock valued at $35,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds 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.