e.l.f. Beauty (NYSE:ELF) Stock Price Up 6% – Here’s What Happened

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) rose 6% during mid-day trading on Monday . The company traded as high as $116.55 and last traded at $116.33. Approximately 1,616,295 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 1,793,100 shares. The stock had previously closed at $109.72.

Analyst Upgrades and Downgrades

ELF has been the subject of a number of recent research reports. TD Cowen dropped their price objective on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. DA Davidson reaffirmed a “buy” rating and issued a $223.00 target price on shares of e.l.f. Beauty in a report on Tuesday, October 1st. Robert W. Baird upped their target price on shares of e.l.f. Beauty from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on shares of e.l.f. Beauty from $207.00 to $167.00 and set an “overweight” rating on the stock in a report on Friday. Finally, B. Riley initiated coverage on shares of e.l.f. Beauty in a report on Tuesday, September 10th. They issued a “buy” rating and a $175.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $198.71.

e.l.f. Beauty Trading Up 5.2 %

The business’s fifty day simple moving average is $133.52 and its 200 day simple moving average is $164.34. The company has a current ratio of 1.77, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market cap of $6.46 billion, a P/E ratio of 49.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. The company had revenue of $324.48 million for the quarter, compared to the consensus estimate of $303.60 million. As a group, analysts expect that e.l.f. Beauty, Inc. will post 2.88 EPS for the current year.

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

In related news, CEO Tarang Amin sold 548 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $175.00, for a total value of $95,900.00. Following the sale, the chief executive officer now directly owns 214,507 shares in the company, valued at $37,538,725. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of e.l.f. Beauty

Hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new stake in e.l.f. Beauty during the 2nd quarter worth approximately $6,659,000. Cetera Investment Advisers raised its holdings in e.l.f. Beauty by 33.8% during the 2nd quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock worth $8,285,000 after buying an additional 9,939 shares during the period. Wellington Management Group LLP raised its holdings in e.l.f. Beauty by 5.2% during the 4th quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock worth $366,744,000 after buying an additional 126,231 shares during the period. Clearbridge Investments LLC raised its holdings in e.l.f. Beauty by 84.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock worth $265,432,000 after buying an additional 576,383 shares during the period. Finally, Swiss National Bank raised its holdings in e.l.f. Beauty by 0.5% during the 1st quarter. Swiss National Bank now owns 108,900 shares of the company’s stock worth $21,348,000 after buying an additional 500 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.