e.l.f. Beauty (NYSE:ELF) Stock Price Down 3.4% After Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF) dropped 3.4% on Monday after DA Davidson lowered their price target on the stock from $80.00 to $75.00. DA Davidson currently has a neutral rating on the stock. e.l.f. Beauty traded as low as $65.40 and last traded at $65.84. Approximately 584,864 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 2,202,128 shares. The stock had previously closed at $68.18.

A number of other research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on e.l.f. Beauty in a report on Thursday, December 12th. They issued a “hold” rating and a $133.00 target price on the stock. Piper Sandler dropped their price objective on e.l.f. Beauty from $167.00 to $131.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. B. Riley reaffirmed a “buy” rating and set a $90.00 price objective (down from $150.00) on shares of e.l.f. Beauty in a report on Friday, February 7th. Truist Financial increased their target price on shares of e.l.f. Beauty from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group cut their price target on shares of e.l.f. Beauty from $142.00 to $124.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.65.

Insider Activity

In related news, Director Maureen C. Watson sold 4,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $67.39, for a total value of $269,560.00. Following the sale, the director now directly owns 1,888 shares in the company, valued at approximately $127,232.32. The trade was a 67.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.

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

Several large investors have recently modified their holdings of the business. Baillie Gifford & Co. boosted its holdings in e.l.f. Beauty by 51.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company’s stock worth $1,005,584,000 after buying an additional 2,703,742 shares during the period. Vanguard Group Inc. lifted its position in shares of e.l.f. Beauty by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,497,208 shares of the company’s stock worth $690,174,000 after acquiring an additional 68,103 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of e.l.f. Beauty by 40.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company’s stock worth $289,437,000 after acquiring an additional 669,321 shares during the period. Champlain Investment Partners LLC grew its position in shares of e.l.f. Beauty by 99.7% in the fourth quarter. Champlain Investment Partners LLC now owns 2,226,451 shares of the company’s stock valued at $279,531,000 after purchasing an additional 1,111,550 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of e.l.f. Beauty by 17.5% during the 4th quarter. Clearbridge Investments LLC now owns 1,772,528 shares of the company’s stock valued at $222,541,000 after purchasing an additional 264,296 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Performance

The business has a 50 day moving average of $89.54 and a 200-day moving average of $109.36. The company has a market capitalization of $3.59 billion, a P/E ratio of 37.65, a price-to-earnings-growth ratio of 6.76 and a beta of 1.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.17 and a current ratio of 1.90.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. On average, sell-side analysts predict that e.l.f. Beauty, Inc. will post 2.38 EPS for the current fiscal year.

About e.l.f. Beauty

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.