e.l.f. Beauty (NYSE:ELF) Stock Price Up 5.4% – Still a Buy?

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) rose 5.4% during trading on Friday . The stock traded as high as $138.66 and last traded at $138.55. Approximately 884,647 shares traded hands during trading, a decline of 55% from the average daily volume of 1,958,104 shares. The stock had previously closed at $131.51.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ELF shares. Canaccord Genuity Group reduced their price objective on shares of e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. TD Cowen reduced their price objective on e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Bank of America decreased their target price on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price objective (up previously from $162.00) on shares of e.l.f. Beauty in a report on Thursday, November 7th. Finally, Robert W. Baird dropped their price objective on shares of e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.65.

e.l.f. Beauty Stock Performance

The stock has a market cap of $7.92 billion, a P/E ratio of 76.02, a PEG ratio of 3.03 and a beta of 1.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01. The firm’s 50-day moving average price is $118.97 and its 200-day moving average price is $148.92.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.34. The company had revenue of $301.10 million during the quarter, compared to analysts’ expectations of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. e.l.f. Beauty’s quarterly revenue was up 39.7% on a year-over-year basis. During the same period last year, the company posted $0.66 earnings per share. Sell-side analysts expect that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In related news, Director Maureen C. Watson sold 785 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $130.00, for a total transaction of $102,050.00. Following the sale, the director now owns 1,888 shares of the company’s stock, valued at $245,440. This represents a 29.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott Milsten sold 530 shares of e.l.f. Beauty stock in a transaction on Friday, December 6th. The stock was sold at an average price of $137.60, for a total transaction of $72,928.00. Following the completion of the transaction, the insider now directly owns 68,853 shares of the company’s stock, valued at $9,474,172.80. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,205 shares of company stock valued at $297,442. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On e.l.f. Beauty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELF. Baillie Gifford & Co. lifted its stake in shares of e.l.f. Beauty by 39.5% in the 3rd quarter. Baillie Gifford & Co. now owns 5,305,692 shares of the company’s stock valued at $578,480,000 after purchasing an additional 1,501,151 shares during the last quarter. State Street Corp increased its position in e.l.f. Beauty by 3.7% during the third quarter. State Street Corp now owns 1,665,203 shares of the company’s stock valued at $181,557,000 after acquiring an additional 59,248 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of e.l.f. Beauty by 12.5% in the second quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company’s stock valued at $318,647,000 after acquiring an additional 168,267 shares during the period. Clearbridge Investments LLC raised its stake in shares of e.l.f. Beauty by 84.4% in the second quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after acquiring an additional 576,383 shares during the period. Finally, FMR LLC lifted its holdings in shares of e.l.f. Beauty by 5.5% in the 3rd quarter. FMR LLC now owns 1,186,766 shares of the company’s stock worth $129,393,000 after acquiring an additional 61,524 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.