e.l.f. Beauty (NYSE:ELF) Trading Down 2.7% Following Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF) traded down 2.7% during mid-day trading on Monday after Piper Sandler lowered their price target on the stock from $260.00 to $162.00. Piper Sandler currently has an overweight rating on the stock. e.l.f. Beauty traded as low as $109.35 and last traded at $113.52. 984,951 shares changed hands during trading, a decline of 43% from the average session volume of 1,730,540 shares. The stock had previously closed at $116.63.

Other research analysts have also issued research reports about the company. Robert W. Baird increased their price target on e.l.f. Beauty from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. UBS Group decreased their price target on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus upped their price objective on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Raymond James reissued a “strong-buy” rating and issued a $235.00 target price on shares of e.l.f. Beauty in a research report on Monday, July 22nd. Finally, Bank of America dropped their price target on shares of e.l.f. Beauty from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $198.80.

Insider Transactions at e.l.f. Beauty

In related news, CEO Tarang Amin sold 15,386 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $200.85, for a total transaction of $3,090,278.10. Following the transaction, the chief executive officer now directly owns 171,329 shares of the company’s stock, valued at approximately $34,411,429.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Tarang Amin sold 15,386 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $200.85, for a total transaction of $3,090,278.10. Following the completion of the sale, the chief executive officer now directly owns 171,329 shares of the company’s stock, valued at approximately $34,411,429.65. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Joshua Allen Franks sold 3,370 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the completion of the transaction, the senior vice president now owns 71,986 shares in the company, valued at approximately $14,489,342.08. The disclosure for this sale can be found here. Insiders sold 19,304 shares of company stock valued at $3,864,492 over the last quarter. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On e.l.f. Beauty

A number of hedge funds have recently bought and sold shares of ELF. Ashton Thomas Private Wealth LLC acquired a new position in shares of e.l.f. Beauty in the 2nd quarter valued at approximately $26,000. Matrix Trust Co acquired a new stake in e.l.f. Beauty in the second quarter valued at $27,000. Innealta Capital LLC bought a new position in e.l.f. Beauty during the 2nd quarter valued at $30,000. Harbor Investment Advisory LLC acquired a new position in e.l.f. Beauty during the 1st quarter worth $31,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of e.l.f. Beauty by 405.9% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock worth $36,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 0.7 %

The firm has a market cap of $6.29 billion, a P/E ratio of 50.63, a PEG ratio of 2.37 and a beta of 1.45. The firm’s 50-day moving average price is $159.25 and its 200 day moving average price is $176.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Thursday, August 8th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.20. e.l.f. Beauty had a return on equity of 23.30% and a net margin of 10.80%. The company had revenue of $324.48 million for the quarter, compared to the consensus estimate of $303.60 million. On average, equities research analysts expect that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current fiscal year.

e.l.f. Beauty Company Profile

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.