e.l.f. Beauty (NYSE:ELF) Stock Price Up 6.2% Following Analyst Upgrade

e.l.f. Beauty, Inc. (NYSE:ELF)’s stock price shot up 6.2% during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $182.00 to $224.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. e.l.f. Beauty traded as high as $180.54 and last traded at $180.07. 706,609 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 1,586,315 shares. The stock had previously closed at $169.57.

Several other equities research analysts have also commented on ELF. DA Davidson reaffirmed a “buy” rating and set a $220.00 price target on shares of e.l.f. Beauty in a research report on Monday, June 3rd. Truist Financial upped their target price 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. Stifel Nicolaus lifted their price target on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday. Bank of America boosted their price objective on shares of e.l.f. Beauty from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler raised their target price on e.l.f. Beauty from $210.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.00.

Insiders Place Their Bets

In other news, SVP Joshua Allen Franks sold 3,370 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $201.28, for a total value of $678,313.60. Following the transaction, the senior vice president now owns 71,986 shares of the company’s stock, valued at $14,489,342.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Tarang Amin sold 42,953 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total transaction of $7,944,586.88. Following the completion of the transaction, the chief executive officer now owns 258,667 shares in the company, valued at $47,843,048.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joshua Allen Franks sold 3,370 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $201.28, for a total value of $678,313.60. Following the completion of the sale, the senior vice president now owns 71,986 shares in the company, valued at $14,489,342.08. The disclosure for this sale can be found here. Insiders sold 120,361 shares of company stock worth $22,019,033 in the last three months. 5.20% of the stock is owned by company insiders.

Institutional Trading of e.l.f. Beauty

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its holdings in shares of e.l.f. Beauty by 7.2% in the third quarter. Public Employees Retirement System of Ohio now owns 2,573 shares of the company’s stock valued at $283,000 after purchasing an additional 172 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of e.l.f. Beauty in the 4th quarter worth $199,000. GPS Wealth Strategies Group LLC increased its holdings in shares of e.l.f. Beauty by 66.4% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 243 shares of the company’s stock worth $35,000 after buying an additional 97 shares during the last quarter. CoreCap Advisors LLC raised its position in shares of e.l.f. Beauty by 44.0% during the 4th quarter. CoreCap Advisors LLC now owns 2,875 shares of the company’s stock valued at $415,000 after buying an additional 878 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of e.l.f. Beauty by 120.8% during the 4th quarter. Raymond James & Associates now owns 69,251 shares of the company’s stock valued at $9,996,000 after buying an additional 37,881 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Trading Up 6.1 %

The stock has a market cap of $10.14 billion, a P/E ratio of 80.90, a P/E/G ratio of 3.90 and a beta of 1.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 1.60. The stock’s fifty day moving average is $190.52 and its 200 day moving average is $180.76.

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

e.l.f. Beauty Company Profile

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.