Bank of America Forecasts Strong Price Appreciation for e.l.f. Beauty (NYSE:ELF) Stock

e.l.f. Beauty (NYSE:ELF) had its price objective raised by Bank of America from $100.00 to $118.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 22.13% from the company’s current price.

ELF has been the subject of several other reports. Zacks Research downgraded shares of e.l.f. Beauty from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 10th. Robert W. Baird set a $105.00 target price on e.l.f. Beauty in a research report on Thursday, August 6th. Canaccord Genuity Group raised their target price on e.l.f. Beauty from $110.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. TD Cowen lifted their price target on e.l.f. Beauty from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Jefferies Financial Group boosted their price target on e.l.f. Beauty from $72.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.81.

e.l.f. Beauty Stock Down 0.1%

Shares of ELF traded down $0.14 during mid-day trading on Tuesday, hitting $96.62. 590,552 shares of the company traded hands, compared to its average volume of 2,700,192. e.l.f. Beauty has a 1-year low of $48.82 and a 1-year high of $150.99. The company has a quick ratio of 1.82, a current ratio of 2.55 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $5.70 billion, a PE ratio of 96.67, a price-to-earnings-growth ratio of 3.01 and a beta of 1.60. The business has a 50 day moving average of $91.04 and a 200 day moving average of $74.45.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Wednesday, August 5th. The company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $1.04. The company had revenue of $479.37 million during the quarter, compared to analysts’ expectations of $431.20 million. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. e.l.f. Beauty’s revenue for the quarter was up 35.5% on a year-over-year basis. During the same period last year, the business earned $0.89 EPS. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. Equities research analysts anticipate that e.l.f. Beauty will post 2.64 EPS for the current year.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, insider Kory Marchisotto sold 12,173 shares of e.l.f. Beauty stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $88.02, for a total transaction of $1,071,467.46. Following the completion of the transaction, the insider owned 169,695 shares in the company, valued at approximately $14,936,553.90. This trade represents a 6.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Joshua Franks sold 5,718 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $100.00, for a total value of $571,800.00. Following the completion of the transaction, the senior vice president directly owned 144,309 shares of the company’s stock, valued at approximately $14,430,900. This trade represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 116,223 shares of company stock valued at $10,000,410 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of e.l.f. Beauty

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in e.l.f. Beauty in the second quarter valued at $428,262,000. Swedbank AB boosted its stake in shares of e.l.f. Beauty by 97.0% during the 4th quarter. Swedbank AB now owns 1,364,801 shares of the company’s stock worth $103,779,000 after acquiring an additional 672,071 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of e.l.f. Beauty by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 1,040,518 shares of the company’s stock worth $79,138,000 after acquiring an additional 21,016 shares in the last quarter. Primecap Management Co. CA acquired a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at about $78,202,000. Finally, Capital World Investors grew its position in shares of e.l.f. Beauty by 40.4% during the 4th quarter. Capital World Investors now owns 929,632 shares of the company’s stock valued at $70,689,000 after acquiring an additional 267,696 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc develops, markets and sells cosmetics, skin care and beauty products. Its portfolio includes e.l.f. Cosmetics, which offers makeup, skin care, tools and accessories, as well as brands such as Naturium, W3LL PEOPLE and Keys Soulcare. The company positions its products as accessible and affordable alternatives across a range of beauty categories.

Founded in 2004, e.l.f. Beauty distributes its products through mass retailers, specialty beauty stores, direct-to-consumer websites and other digital channels.