e.l.f. Beauty (NYSE:ELF) Price Target Lowered to $170.00 at DA Davidson

e.l.f. Beauty (NYSE:ELF) had its price objective dropped by research analysts at DA Davidson from $223.00 to $170.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 48.26% from the company’s current price.

Several other equities research analysts have also issued reports on ELF. Stifel Nicolaus reduced their target price on shares of e.l.f. Beauty from $161.00 to $131.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Piper Sandler cut their price target on e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Baird R W upgraded e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 18th. Truist Financial decreased their target price on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, Bank of America dropped their price target on 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, e.l.f. Beauty currently has an average rating of “Moderate Buy” and a consensus price target of $180.27.

e.l.f. Beauty Stock Performance

Shares of NYSE:ELF traded up $10.50 during midday trading on Thursday, reaching $114.66. 1,562,218 shares of the company’s stock traded hands, compared to its average volume of 1,845,112. e.l.f. Beauty has a one year low of $92.16 and a one year high of $221.83. The stock has a 50 day moving average of $113.74 and a 200 day moving average of $156.46. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 52.43, a P/E/G ratio of 2.16 and a beta of 1.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.77.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.20. The firm had revenue of $324.48 million during the quarter, compared to analyst estimates of $303.60 million. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. As a group, equities research analysts anticipate that e.l.f. Beauty will post 2.88 EPS for the current fiscal year.

Insider Activity

In other news, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the completion of the sale, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.50% of the company’s stock.

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

A number of large investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC bought a new position in e.l.f. Beauty in the 2nd quarter worth about $26,000. Matrix Trust Co purchased a new position in e.l.f. Beauty during the 2nd quarter valued at about $27,000. Innealta Capital LLC bought a new stake in shares of e.l.f. Beauty in the 2nd quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of e.l.f. Beauty by 405.9% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock worth $36,000 after purchasing an additional 138 shares during the period. Finally, Crewe Advisors LLC boosted its position in e.l.f. Beauty by 456.3% during the 2nd quarter. Crewe Advisors LLC now owns 178 shares of the company’s stock valued at $38,000 after acquiring an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.