DA Davidson Reaffirms “Buy” Rating for e.l.f. Beauty (NYSE:ELF)

e.l.f. Beauty (NYSE:ELF)‘s stock had its “buy” rating reiterated by DA Davidson in a research report issued on Wednesday, Benzinga reports. They currently have a $223.00 price target on the stock. DA Davidson’s price target suggests a potential upside of 94.39% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. UBS Group reduced 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. Canaccord Genuity Group upped their price objective 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. Bank of America reduced their price objective on shares of e.l.f. Beauty from $230.00 to $190.00 and set a “buy” rating for the company in a report on Monday, September 9th. JPMorgan Chase & Co. cut their price target on shares of e.l.f. Beauty from $224.00 to $207.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, TD Cowen cut their price target on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $198.80.

e.l.f. Beauty Stock Performance

Shares of ELF traded up $2.29 during midday trading on Wednesday, hitting $114.72. 1,332,378 shares of the stock traded hands, compared to its average volume of 1,738,426. e.l.f. Beauty has a 1-year low of $88.47 and a 1-year high of $221.83. The firm has a market capitalization of $6.42 billion, a PE ratio of 51.51, a price-to-earnings-growth ratio of 2.37 and a beta of 1.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.77. The business’s 50 day moving average price is $159.25 and its two-hundred day moving average price is $176.11.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.87 earnings per share 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%. Equities research analysts predict that e.l.f. Beauty will post 2.88 EPS for the current fiscal year.

Insider Activity

In other news, CEO Tarang Amin sold 548 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $175.00, for a total value of $95,900.00. Following the transaction, the chief executive officer now owns 214,507 shares in the company, valued at approximately $37,538,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Joshua Allen Franks sold 3,370 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $201.28, for a total value of $678,313.60. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tarang Amin sold 548 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $175.00, for a total value of $95,900.00. Following the completion of the transaction, the chief executive officer now owns 214,507 shares in the company, valued at approximately $37,538,725. The disclosure for this sale can be found here. Insiders have sold 19,304 shares of company stock worth $3,864,492 in the last 90 days. Company insiders own 5.20% of the company’s stock.

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

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in e.l.f. Beauty by 5.2% during the fourth quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock worth $366,744,000 after purchasing an additional 126,231 shares during the period. Swiss National Bank boosted its position in e.l.f. Beauty by 0.5% during the first quarter. Swiss National Bank now owns 108,900 shares of the company’s stock worth $21,348,000 after purchasing an additional 500 shares during the period. Private Advisor Group LLC bought a new stake in e.l.f. Beauty during the first quarter worth approximately $417,000. Nia Impact Advisors LLC bought a new stake in e.l.f. Beauty during the second quarter worth approximately $1,794,000. Finally, WD Rutherford LLC boosted its position in e.l.f. Beauty by 17.5% during the second quarter. WD Rutherford LLC now owns 15,916 shares of the company’s stock worth $3,354,000 after purchasing an additional 2,374 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.