e.l.f. Beauty (NYSE:ELF) Trading Down 1.5% Following Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF) dropped 1.5% during mid-day trading on Tuesday after Bank of America lowered their price target on the stock from $230.00 to $190.00. Bank of America currently has a buy rating on the stock. e.l.f. Beauty traded as low as $111.77 and last traded at $112.28. 762,622 shares were traded during trading, a decline of 55% from the average daily volume of 1,699,614 shares. The stock had previously closed at $113.98.

Several other analysts have also commented on the company. Canaccord Genuity Group raised their target price on e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. TD Cowen lifted their target price on shares of e.l.f. Beauty from $190.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Baird R W raised shares of e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 18th. UBS Group cut their price objective on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of e.l.f. Beauty from $224.00 to $207.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.00.

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

In other e.l.f. Beauty news, CEO Tarang Amin sold 15,386 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $200.85, for a total value 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 available at the SEC website. In other news, SVP Joshua Allen Franks sold 3,370 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $201.28, for a total transaction of $678,313.60. Following the completion of the sale, the senior vice president now owns 71,986 shares in the company, valued at approximately $14,489,342.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tarang Amin sold 15,386 shares of e.l.f. Beauty stock in a transaction on Friday, July 5th. The shares were sold at an average price of $200.85, for a total value of $3,090,278.10. Following the completion of the sale, the chief executive officer now owns 171,329 shares in the company, valued at approximately $34,411,429.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,304 shares of company stock worth $3,864,492. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of e.l.f. Beauty in the second quarter valued at $26,000. Matrix Trust Co acquired a new position in e.l.f. Beauty in the 2nd quarter valued at about $27,000. Innealta Capital LLC purchased a new stake in e.l.f. Beauty during the second quarter worth about $30,000. Harbor Investment Advisory LLC purchased a new stake in e.l.f. Beauty during the first quarter worth about $31,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of e.l.f. Beauty by 405.9% during the second 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 in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Trading Up 3.3 %

The company’s 50 day moving average price is $166.36 and its 200 day moving average price is $178.90. The firm has a market cap of $6.43 billion, a PE ratio of 51.39, a price-to-earnings-growth ratio of 2.55 and a beta of 1.45. 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 posted its quarterly earnings results on Thursday, August 8th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.67 by $0.20. The business had revenue of $324.48 million during the quarter, compared to the consensus estimate of $303.60 million. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. As a group, analysts forecast that e.l.f. Beauty, Inc. will post 2.88 EPS 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.