Piper Sandler Reiterates “Overweight” Rating for e.l.f. Beauty (NYSE:ELF)

Piper Sandler reiterated their overweight rating on shares of e.l.f. Beauty (NYSE:ELF) in a report released on Friday, Benzinga reports. They currently have a $260.00 price target on the stock, up from their prior price target of $258.00.

A number of other equities analysts have also recently issued reports on the stock. Truist Financial increased their price objective on shares of e.l.f. Beauty from $200.00 to $210.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. increased their price target on e.l.f. Beauty from $182.00 to $224.00 and gave the stock an overweight rating in a report on Monday, July 22nd. Canaccord Genuity Group boosted their price objective 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. Raymond James reissued a strong-buy rating and issued a $235.00 price target on shares of e.l.f. Beauty in a research report on Monday, July 22nd. Finally, TD Cowen upped their price objective on shares of e.l.f. Beauty from $190.00 to $235.00 and gave the stock a buy rating in a report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $217.64.

e.l.f. Beauty Trading Down 14.4 %

ELF stock traded down $27.12 during mid-day trading on Friday, reaching $160.83. The company’s stock had a trading volume of 7,408,642 shares, compared to its average volume of 1,625,412. e.l.f. Beauty has a 12 month low of $88.47 and a 12 month high of $221.83. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average price is $190.75 and its 200 day moving average price is $182.43. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 72.45, a price-to-earnings-growth ratio of 3.66 and a beta of 1.46.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data 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. The company had revenue of $321.14 million during the quarter, compared to analyst estimates of $292.47 million. e.l.f. Beauty had a net margin of 12.47% and a return on equity of 26.64%. On average, equities research analysts predict that e.l.f. Beauty will post 2.84 EPS for the current year.

Insider Transactions at e.l.f. Beauty

In related news, CEO Tarang Amin sold 548 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $95,900.00. Following the completion of the transaction, the chief executive officer now owns 214,507 shares in the company, valued at $37,538,725. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Tarang Amin sold 548 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $95,900.00. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joshua Allen Franks sold 14,253 shares of e.l.f. Beauty stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total transaction of $2,636,234.88. Following the completion of the transaction, the senior vice president now owns 83,182 shares of the company’s stock, valued at approximately $15,385,342.72. The disclosure for this sale can be found here. Insiders have sold 97,390 shares of company stock worth $18,264,873 in the last 90 days. Insiders own 5.20% of the company’s stock.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Guidance Capital Inc. boosted its stake in shares of e.l.f. Beauty by 1.6% during the fourth quarter. Guidance Capital Inc. now owns 3,510 shares of the company’s stock valued at $490,000 after purchasing an additional 56 shares during the period. First Trust Direct Indexing L.P. increased its position in e.l.f. Beauty by 3.2% during the 4th quarter. First Trust Direct Indexing L.P. now owns 2,106 shares of the company’s stock valued at $304,000 after buying an additional 65 shares in the last quarter. Picton Mahoney Asset Management raised its stake in e.l.f. Beauty by 3.2% during the second quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock valued at $512,000 after buying an additional 75 shares during the last quarter. Hanseatic Management Services Inc. boosted its stake in e.l.f. Beauty by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock worth $950,000 after purchasing an additional 77 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of e.l.f. Beauty by 33.2% in the first quarter. GAMMA Investing LLC now owns 353 shares of the company’s stock worth $69,000 after buying an additional 88 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.