e.l.f. Beauty (NYSE:ELF) Rating Increased to Buy at Zacks Investment Research

e.l.f. Beauty (NYSE:ELF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports. The firm presently has a $18.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 9.49% from the company’s current price.

According to Zacks, “e.l.f. Beauty, Inc. operates as a cosmetic company. Its cosmetic category primarily consists of face makeup, eye makeup, lip products, nail products and cosmetics sets/kits, excludes beauty tools and accessories, such as brushes and applicators. e.l.f. Beauty, Inc. is based in Oakland, United States. “

A number of other equities analysts have also recently issued reports on the stock. DA Davidson initiated coverage on shares of Business First Bancshares in a research note on Wednesday. They issued a “neutral” rating and a $28.00 price target on the stock. TheStreet cut shares of Primeenergy Resources from a “b-” rating to a “c” rating in a research note on Friday, July 5th. JPMorgan Chase & Co. initiated coverage on shares of Pinduoduo in a research note on Tuesday. They issued an “underweight” rating and a $20.48 price target on the stock. Citigroup set a $13.00 price target on shares of e.l.f. Beauty and gave the stock a “hold” rating in a research note on Monday, May 13th. Finally, Morgan Stanley set a $17.00 price target on shares of BOX and gave the stock a “hold” rating in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. e.l.f. Beauty presently has an average rating of “Hold” and an average price target of $12.86.

e.l.f. Beauty stock traded up $0.04 during mid-day trading on Friday, reaching $16.44. The stock had a trading volume of 639,200 shares, compared to its average volume of 733,638. The firm has a market cap of $843.94 million, a P/E ratio of 37.36, a price-to-earnings-growth ratio of 19.37 and a beta of 2.38. The company’s 50-day moving average price is $12.83. e.l.f. Beauty has a one year low of $6.70 and a one year high of $16.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.30 and a quick ratio of 2.22.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). The firm had revenue of $66.14 million during the quarter, compared to the consensus estimate of $56.91 million. e.l.f. Beauty had a positive return on equity of 8.88% and a negative net margin of 1.15%. On average, analysts forecast that e.l.f. Beauty will post 0.15 EPS for the current year.

In other news, insider Scott Milsten sold 3,700 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $12.69, for a total value of $46,953.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jonathan T. Fieldman sold 39,260 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $588,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,087,560 shares of company stock worth $33,476,522 in the last 90 days. Company insiders own 17.10% of the company’s stock.

Several large investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of e.l.f. Beauty by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 98,342 shares of the company’s stock worth $851,000 after purchasing an additional 1,109 shares during the period. Diversified Trust Co lifted its stake in shares of e.l.f. Beauty by 17.8% in the 2nd quarter. Diversified Trust Co now owns 15,850 shares of the company’s stock worth $223,000 after purchasing an additional 2,400 shares during the period. Quantamental Technologies LLC bought a new position in shares of e.l.f. Beauty in the 1st quarter worth approximately $36,000. PNC Financial Services Group Inc. bought a new position in shares of e.l.f. Beauty in the 4th quarter worth approximately $32,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of e.l.f. Beauty by 862.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,253 shares of the company’s stock worth $56,000 after purchasing an additional 4,707 shares during the period. Hedge funds and other institutional investors own 82.56% of the company’s stock.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc, a beauty company, provides cosmetic and skin care products under the e.l.f. brand name worldwide. The company offers eye, lip, face, and skin care products, as well as kits and tools. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce and e.l.f.

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