e.l.f. Beauty (NYSE:ELF) Price Target Cut to $220.00

e.l.f. Beauty (NYSE:ELF) had its target price dropped by research analysts at Bank of America from $230.00 to $220.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 15.43% from the company’s current price.

A number of other analysts have also recently weighed in on ELF. TD Cowen raised shares of e.l.f. Beauty from a “hold” rating to a “buy” rating and dropped their target price for the stock from $220.00 to $190.00 in a report on Wednesday, April 17th. Morgan Stanley raised their price objective on shares of e.l.f. Beauty from $168.00 to $184.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. DA Davidson restated a “buy” rating and set a $220.00 price target on shares of e.l.f. Beauty in a report on Monday, April 8th. Piper Sandler cut their price objective on shares of e.l.f. Beauty from $216.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, StockNews.com lowered shares of e.l.f. Beauty from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, e.l.f. Beauty presently has a consensus rating of “Moderate Buy” and an average price target of $183.77.

e.l.f. Beauty Stock Up 22.5 %

Shares of NYSE ELF traded up $34.96 during trading on Thursday, reaching $190.59. 4,798,479 shares of the stock were exchanged, compared to its average volume of 1,575,083. e.l.f. Beauty has a twelve month low of $83.80 and a twelve month high of $221.83. The company has a quick ratio of 0.83, a current ratio of 1.50 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $10.58 billion, a price-to-earnings ratio of 84.33, a price-to-earnings-growth ratio of 1.49 and a beta of 1.60. The business’s 50-day moving average price is $173.88 and its 200 day moving average price is $159.36.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 6,832 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $162.63, for a total transaction of $1,111,088.16. Following the sale, the chief executive officer now directly owns 228,175 shares in the company, valued at approximately $37,108,100.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Tarang Amin sold 6,832 shares of e.l.f. Beauty stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $162.63, for a total value of $1,111,088.16. Following the sale, the chief executive officer now directly owns 228,175 shares in the company, valued at approximately $37,108,100.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Joshua Allen Franks sold 29,388 shares of e.l.f. Beauty stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $166.40, for a total value of $4,890,163.20. Following the transaction, the senior vice president now owns 108,748 shares of the company’s stock, valued at approximately $18,095,667.20. The disclosure for this sale can be found here. Insiders have sold a total of 201,600 shares of company stock valued at $34,307,124 over the last 90 days. Insiders own 5.20% of the company’s stock.

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

Several large investors have recently made changes to their positions in ELF. Armstrong Advisory Group Inc. raised its position in e.l.f. Beauty by 390.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock valued at $29,000 after purchasing an additional 160 shares during the period. Harbor Investment Advisory LLC purchased a new position in e.l.f. Beauty in the 1st quarter worth $31,000. Oakworth Capital Inc. acquired a new stake in e.l.f. Beauty during the 1st quarter worth about $33,000. GPS Wealth Strategies Group LLC grew its position in e.l.f. Beauty by 66.4% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 243 shares of the company’s stock worth $35,000 after purchasing an additional 97 shares during the period. Finally, Rise Advisors LLC acquired a new stake in shares of e.l.f. Beauty during the 1st quarter valued at about $40,000. 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.