e.l.f. Beauty (NYSE:ELF) Sets New 52-Week Low – What’s Next?

e.l.f. Beauty (NYSE:ELF)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $58.03 and last traded at $57.1060, with a volume of 309358 shares changing hands. The stock had previously closed at $60.86.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on e.l.f. Beauty in a research note on Wednesday, January 14th. They issued a “buy” rating and a $110.00 price objective on the stock. Wall Street Zen upgraded e.l.f. Beauty from a “sell” rating to a “hold” rating in a research note on Saturday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on e.l.f. Beauty from $95.00 to $68.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. TD Cowen lowered their price objective on e.l.f. Beauty from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Finally, Bank of America lowered their price objective on e.l.f. Beauty from $115.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.06.

e.l.f. Beauty Stock Performance

The company has a quick ratio of 1.89, a current ratio of 2.76 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $3.29 billion, a P/E ratio of 31.48, a PEG ratio of 2.98 and a beta of 1.71. The company has a 50-day moving average price of $67.85 and a two-hundred day moving average price of $79.49.

Insider Activity at e.l.f. Beauty

In other news, SVP Joshua Allen Franks sold 23,535 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $63.66, for a total transaction of $1,498,238.10. Following the completion of the transaction, the senior vice president owned 118,071 shares of the company’s stock, valued at approximately $7,516,399.86. The trade was a 16.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tarang Amin sold 52,880 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $62.64, for a total value of $3,312,403.20. Following the transaction, the chief executive officer directly owned 98,416 shares of the company’s stock, valued at $6,164,778.24. The trade was a 34.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 210,013 shares of company stock valued at $13,315,490 in the last ninety days. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ELF. Royal Bank of Canada grew its holdings in shares of e.l.f. Beauty by 9.9% during the first quarter. Royal Bank of Canada now owns 153,682 shares of the company’s stock worth $9,650,000 after purchasing an additional 13,851 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of e.l.f. Beauty by 168.6% during the first quarter. Integrated Wealth Concepts LLC now owns 6,483 shares of the company’s stock worth $407,000 after purchasing an additional 4,069 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of e.l.f. Beauty by 176.4% during the first quarter. NewEdge Advisors LLC now owns 4,677 shares of the company’s stock worth $294,000 after purchasing an additional 2,985 shares in the last quarter. United Services Automobile Association purchased a new position in shares of e.l.f. Beauty during the first quarter worth about $240,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of e.l.f. Beauty by 58.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock worth $39,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About e.l.f. Beauty

e.l.f. Beauty (NYSE: ELF) is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company’s portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.