e.l.f. Beauty (NYSE:ELF) Shares Gap Down to $218.00

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) gapped down before the market opened on Friday . The stock had previously closed at $218.00, but opened at $213.60. e.l.f. Beauty shares last traded at $212.94, with a volume of 104,879 shares changing hands.

Analysts Set New Price Targets

ELF has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of e.l.f. Beauty from $197.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Canaccord Genuity Group lifted their price target on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Stifel Nicolaus decreased their price objective on e.l.f. Beauty from $167.00 to $151.00 and set a “hold” rating for the company in a report on Monday, May 20th. Raymond James restated a “strong-buy” rating and set a $235.00 target price (up from $215.00) on shares of e.l.f. Beauty in a research note on Friday, June 14th. Finally, DA Davidson reiterated a “buy” rating and issued a $220.00 price target on shares of e.l.f. Beauty in a research note on Monday, June 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $198.93.

e.l.f. Beauty Stock Performance

The company has a quick ratio of 0.95, a current ratio of 1.60 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $11.79 billion, a PE ratio of 94.92, a PEG ratio of 5.53 and a beta of 1.54. The firm has a 50 day moving average price of $181.64 and a 200-day moving average price of $174.76.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. The company had revenue of $321.14 million during the quarter, compared to analyst estimates of $292.47 million. e.l.f. Beauty had a net margin of 12.47% and a return on equity of 26.64%. Research analysts expect that e.l.f. Beauty, Inc. will post 2.85 EPS for the current fiscal year.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, CEO Tarang Amin sold 42,953 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total transaction of $7,944,586.88. Following the sale, the chief executive officer now directly owns 258,667 shares of the company’s stock, valued at approximately $47,843,048.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Tarang Amin sold 42,953 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total value of $7,944,586.88. Following the sale, the chief executive officer now owns 258,667 shares in the company, valued at $47,843,048.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard G. Wolford sold 11,072 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $181.13, for a total value of $2,005,471.36. Following the sale, the director now directly owns 12,741 shares in the company, valued at $2,307,777.33. The disclosure for this sale can be found here. Insiders sold 256,167 shares of company stock worth $44,029,811 over the last three months. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On e.l.f. Beauty

Several large investors have recently made changes to their positions in ELF. Armstrong Advisory Group Inc. grew its position in e.l.f. Beauty by 390.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock valued at $29,000 after buying an additional 160 shares during the period. Harbor Investment Advisory LLC acquired a new stake in shares of e.l.f. Beauty during the 1st quarter valued at about $31,000. Oakworth Capital Inc. purchased a new position in shares of e.l.f. Beauty in the 1st quarter valued at about $33,000. GPS Wealth Strategies Group LLC raised its holdings in e.l.f. Beauty by 66.4% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 243 shares of the company’s stock worth $35,000 after purchasing an additional 97 shares during the period. Finally, Rise Advisors LLC purchased a new position in e.l.f. Beauty during the first quarter worth approximately $40,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

About e.l.f. Beauty

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.