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E.l.f. Beauty (NYSE:ELF) Hits New 1-Year High After Analyst Upgrade

Defense World · Feb 3, 2023 01:14

e.l.f. Beauty, Inc. (NYSE:ELF – Get Rating) reached a new 52-week high during trading on Thursday after Truist Financial raised their price target on the stock from $50.00 to $75.00. Truist Financial currently has a buy rating on the stock. e.l.f. Beauty traded as high as $69.30 and last traded at $65.00, with a volume of 202409 shares trading hands. The stock had previously closed at $58.51.

A number of other equities research analysts have also commented on the company. StockNews.com initiated coverage on e.l.f. Beauty in a research report on Wednesday, October 12th. They issued a "hold" rating for the company. Stifel Nicolaus increased their price target on e.l.f. Beauty from $43.00 to $50.00 and gave the company a "hold" rating in a research report on Tuesday, January 24th. DA Davidson increased their price target on e.l.f. Beauty from $54.00 to $77.00 and gave the company a "buy" rating in a research report on Thursday. Piper Sandler raised their target price on e.l.f. Beauty from $55.00 to $64.00 in a research report on Tuesday, January 3rd. Finally, JPMorgan Chase & Co. raised their target price on e.l.f. Beauty from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, e.l.f. Beauty presently has an average rating of "Moderate Buy" and an average target price of $66.36.

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Insider Buying and Selling

In related news, 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 of the company's stock, valued at approximately $19,306,877.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other e.l.f. Beauty news, insider Scott Milsten sold 55,000 shares of the firm's stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $56.98, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tarang Amin sold 39,740 shares of the firm's 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 transaction, the chief executive officer now owns 347,496 shares of the company's stock, valued at approximately $19,306,877.76. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ELF. BlackRock Inc. boosted its stake in e.l.f. Beauty by 17.0% in the 3rd quarter. BlackRock Inc. now owns 8,521,428 shares of the company's stock worth $320,575,000 after purchasing an additional 1,236,043 shares during the period. Wellington Management Group LLP lifted its position in e.l.f. Beauty by 3,885.5% in the 1st quarter. Wellington Management Group LLP now owns 812,015 shares of the company's stock worth $20,974,000 after buying an additional 791,641 shares during the last quarter. Driehaus Capital Management LLC lifted its position in e.l.f. Beauty by 169.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 843,708 shares of the company's stock worth $25,885,000 after buying an additional 530,838 shares during the last quarter. Vanguard Group Inc. lifted its position in 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 buying an additional 504,690 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in e.l.f. Beauty by 70.3% in the 3rd quarter. Marshall Wace LLP now owns 942,438 shares of the company's stock worth $35,456,000 after buying an additional 389,163 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

e.l.f. Beauty Stock Up 15.0 %

The company has a current ratio of 3.44, a quick ratio of 2.31 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $54.82 and a 200 day simple moving average of $45.37. The firm has a market capitalization of $3.56 billion, a PE ratio of 106.81, a PEG ratio of 2.76 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.12. The business had revenue of $122.35 million for the quarter, compared to analysts' expectations of $106.29 million. e.l.f. Beauty had a return on equity of 11.83% and a net margin of 7.57%. As a group, sell-side analysts forecast that e.l.f. Beauty, Inc. will post 0.78 earnings per share for the current year.

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.

E.l.f. Beauty (NYSE:ELF) Hits New 1-Year High After Analyst Upgrade

Insider Buying and Selling

Institutional Inflows and Outflows

e.l.f. Beauty Stock Up 15.0 %

About e.l.f. Beauty

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