Canaccord Genuity Group Cuts e.l.f. Beauty (NYSE:ELF) Price Target to $200.00

e.l.f. Beauty (NYSE:ELF) had its price target lowered by Canaccord Genuity Group from $250.00 to $200.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also issued reports on ELF. Baird R W raised e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 18th. Raymond James reaffirmed a “strong-buy” rating and set a $235.00 target price on shares of e.l.f. Beauty in a research note on Monday, July 22nd. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price target (up from $162.00) on shares of e.l.f. Beauty in a research report on Thursday. Morgan Stanley cut their price target on shares of e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of e.l.f. Beauty from $207.00 to $167.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.53.

e.l.f. Beauty Stock Performance

Shares of NYSE ELF traded up $4.13 during midday trading on Thursday, reaching $120.20. 3,876,923 shares of the company traded hands, compared to its average volume of 2,392,683. The stock has a 50-day moving average price of $112.47 and a 200 day moving average price of $155.89. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 64.97, a PEG ratio of 2.17 and a beta of 1.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. e.l.f. Beauty has a 52 week low of $92.16 and a 52 week high of $221.83.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The company had revenue of $301.10 million for the quarter, compared to the consensus estimate of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.89%. e.l.f. Beauty’s revenue was up 39.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. Sell-side analysts anticipate that e.l.f. Beauty will post 2.88 earnings per share for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the transaction, the chief executive officer now directly owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management increased its position in e.l.f. Beauty by 3.2% in the 2nd quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock worth $512,000 after purchasing an additional 75 shares during the last quarter. Hanseatic Management Services Inc. increased its holdings in e.l.f. Beauty by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock worth $950,000 after buying an additional 77 shares during the last quarter. Portside Wealth Group LLC lifted its stake in e.l.f. Beauty by 3.2% in the second quarter. Portside Wealth Group LLC now owns 2,982 shares of the company’s stock valued at $628,000 after acquiring an additional 93 shares during the last quarter. GAMMA Investing LLC lifted its stake in e.l.f. Beauty by 27.8% in the second quarter. GAMMA Investing LLC now owns 451 shares of the company’s stock valued at $95,000 after acquiring an additional 98 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its stake in shares of e.l.f. Beauty by 2.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company’s stock worth $1,007,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.