e.l.f. Beauty (NYSE:ELF) Price Target Raised to $139.00

e.l.f. Beauty (NYSE:ELF) had its price target boosted by equities researchers at Citigroup from $130.00 to $139.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup‘s price objective would suggest a potential upside of 26.19% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of e.l.f. Beauty in a research report on Wednesday, October 28th. Robert W. Baird raised their price target on e.l.f. Beauty from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 7th. JPMorgan Chase & Co. raised their price target on e.l.f. Beauty from $106.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, October 19th. Morgan Stanley lifted their price target on e.l.f. Beauty from $90.00 to $103.00 and gave the company an “equal weight” rating in a report on Thursday, October 15th. Finally, Piper Sandler boosted their price target on e.l.f. Beauty from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.38.

e.l.f. Beauty Stock Down 3.1%

ELF stock traded down $3.48 during midday trading on Thursday, reaching $110.15. The company had a trading volume of 2,971,922 shares, compared to its average volume of 2,463,365. e.l.f. Beauty has a 1 year low of $48.82 and a 1 year high of $123.13. The company has a current ratio of 2.55, a quick ratio of 1.82 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $6.50 billion, a P/E ratio of 110.15, a PEG ratio of 2.93 and a beta of 1.61. The company has a 50 day moving average of $106.01 and a two-hundred day moving average of $81.94.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Wednesday, November 4th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.61. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. The company had revenue of $520.82 million during the quarter, compared to analyst estimates of $473.51 million. During the same quarter last year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 51.4% on a year-over-year basis. On average, equities research analysts expect that e.l.f. Beauty will post 2.69 earnings per share for the current fiscal year.

Insider Buying and Selling at e.l.f. Beauty

In related news, CEO Tarang Amin sold 47,000 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $103.31, for a total value of $4,855,570.00. Following the completion of the sale, the chief executive officer directly owned 134,496 shares in the company, valued at approximately $13,894,781.76. This represents a 25.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Joshua Franks sold 7,926 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $110.15, for a total transaction of $873,048.90. Following the completion of the sale, the senior vice president owned 119,005 shares of the company’s stock, valued at $13,108,400.75. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 91,821 shares of company stock worth $9,624,513 in the last 90 days. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of e.l.f. Beauty

Institutional investors and hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC increased its holdings in shares of e.l.f. Beauty by 1.4% during the 3rd quarter. Park Avenue Securities LLC now owns 6,327 shares of the company’s stock valued at $639,000 after acquiring an additional 89 shares during the last quarter. Greenwood Capital Associates LLC raised its stake in shares of e.l.f. Beauty by 2.4% in the 2nd quarter. Greenwood Capital Associates LLC now owns 5,436 shares of the company’s stock valued at $402,000 after acquiring an additional 125 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of e.l.f. Beauty by 64.5% in the 3rd quarter. SBI Securities Co. Ltd. now owns 334 shares of the company’s stock valued at $34,000 after acquiring an additional 131 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in e.l.f. Beauty by 3.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 6,196 shares of the company’s stock worth $670,000 after purchasing an additional 197 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in e.l.f. Beauty by 1.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,108 shares of the company’s stock worth $734,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Key e.l.f. Beauty News

Here are the key news stories impacting e.l.f. Beauty this week:

• Positive Sentiment: Fiscal Q2 net sales rose 51.4% year over year to $520.8 million, ahead of estimates of about $473.5 million. Adjusted earnings were $1.21 per share, well above consensus near $0.60 and up from $0.68 a year earlier. Read More.
• Positive Sentiment: The company raised its full-year net sales growth guidance to 22%–24%, citing momentum across its portfolio. It also marked its 31st consecutive quarter of net-sales growth, supporting the case for continued demand. Read More.
• Negative Sentiment: Piper Sandler raised its price target from $100 to $110 but kept a “neutral” rating; the new target was still below the then-current share price. That cautious view may temper the market reaction to the earnings beat. Read More.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc is a cosmetics and skincare company that develops, markets and sells beauty products under a portfolio of brands. Its offerings include makeup, skin care, hair care and other personal-care products designed to provide accessible, trend-focused beauty options across a range of categories.

The company’s portfolio includes e.l.f. Cosmetics, Well People, Keys Soulcare and Naturium. Its products are sold through mass retailers, specialty beauty stores, e-commerce platforms and the brands’ direct-to-consumer websites.