e.l.f. Beauty (NYSE:ELF – Get Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.37-$1.40 for the period, compared to the consensus earnings per share estimate of $1.12. The company issued revenue guidance of $541.00 million-$545.00 million, compared to the consensus revenue estimate of $489.78 million. e.l.f. Beauty also updated its FY23 guidance to $1.37-1.40 EPS.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Jefferies Financial Group lowered e.l.f. Beauty from a buy rating to a hold rating and set a $55.00 price objective for the company. in a report on Monday, January 9th. Morgan Stanley increased their target price on e.l.f. Beauty from $64.00 to $75.00 and gave the company an overweight rating in a report on Thursday. Piper Sandler increased their target price on e.l.f. Beauty from $55.00 to $64.00 in a research report on Tuesday, January 3rd. Bank of America raised their price target on e.l.f. Beauty from $65.00 to $75.00 and gave the stock a buy rating in a research note on Thursday. Finally, Truist Financial lifted their price objective on shares of e.l.f. Beauty from $50.00 to $75.00 and gave the stock a buy rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, e.l.f. Beauty has a consensus rating of Moderate Buy and an average target price of $66.36.
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e.l.f. Beauty Price Performance
Shares of NYSE ELF traded up $1.78 during trading on Friday, reaching $69.07. The company had a trading volume of 1,097,962 shares, compared to its average volume of 1,081,124. The business's 50 day moving average price is $54.82 and its 200-day moving average price is $45.37. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.31 and a current ratio of 3.44. The stock has a market cap of $3.66 billion, a PE ratio of 79.16, a PEG ratio of 2.81 and a beta of 1.57. e.l.f. Beauty has a 52 week low of $20.49 and a 52 week high of $71.62.
e.l.f. Beauty (NYSE:ELF – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.10 by $0.12. The firm had revenue of $122.35 million for the quarter, compared to the consensus estimate of $106.29 million. e.l.f. Beauty had a net
margin of 9.43% and a return on equity of 15.57%. Analysts expect that e.l.f. Beauty will post 0.78 earnings per share for the current year.
Insider Activity
In related news, CEO Tarang Amin sold 39,740 shares of the business's stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $55.56, for a total value of $2,207,954.40. Following the completion of the sale, the chief executive officer now owns 347,496 shares in the company, valued at approximately $19,306,877.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other e.l.f. Beauty news, insider Scott Milsten sold 55,000 shares of e.l.f. Beauty stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $56.98, for a total transaction of $3,133,900.00. Following the completion of the transaction, the insider now owns 127,560 shares in the company, valued at approximately $7,268,368.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tarang Amin sold 39,740 shares of e.l.f. Beauty stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $55.56, for a total value of $2,207,954.40. Following the completion of the sale, the chief executive officer now owns 347,496 shares in the company, valued at $19,306,877.76. The disclosure for this sale can be found here. Insiders own 8.20% of the company's stock.
Hedge Funds Weigh In On e.l.f. Beauty
Several large investors have recently bought and sold shares of ELF. Wellington Management Group LLP boosted its position in e.l.f. Beauty by 3,885.5% during the first quarter. Wellington Management Group LLP now owns 812,015 shares of the company's stock worth $20,974,000 after acquiring an additional 791,641 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of e.l.f. Beauty by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,147,304 shares of the company's stock worth $231,262,000 after purchasing an additional 504,690 shares in the last quarter. Woodline Partners LP purchased a new position in e.l.f. Beauty during the first quarter valued at approximately $3,537,000. BNP Paribas Arbitrage SNC grew its position in e.l.f. Beauty by 604.3% in the third quarter. BNP Paribas Arbitrage SNC now owns 93,657 shares of the company's stock worth $3,523,000 after acquiring an additional 80,359 shares in the last quarter. Finally, State Street Corp raised its stake in e.l.f. Beauty by 5.3% during the 1st quarter. State Street Corp now owns 1,525,830 shares of the company's stock valued at $39,412,000 after purchasing an additional 76,369 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.
About e.l.f. Beauty
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e.l.f. Beauty, Inc operates as a holding company, which engages in the provision of cosmetic and skin-care products. The company focuses on the e-commerce, national retailers, and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare. The company was founded in 2004 and is headquartered in Oakland, CA.
Further Reading
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