e.l.f. Beauty (NYSE:ELF) Shares Gap Down Following Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF) shares gapped down before the market opened on Tuesday after Robert W. Baird lowered their price target on the stock from $240.00 to $175.00. The stock had previously closed at $112.51, but opened at $110.00. Robert W. Baird currently has an outperform rating on the stock. e.l.f. Beauty shares last traded at $109.70, with a volume of 171,282 shares trading hands.

Several other equities research analysts also recently weighed in on the stock. TD Cowen reduced their price objective 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. Piper Sandler reduced their price objective on shares of e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating for the company in a report on Monday, September 16th. 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. Stifel Nicolaus upped their price objective on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Finally, Bank of America reduced their price objective on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $186.57.

Insiders Place Their Bets

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the sale, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of e.l.f. Beauty

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Picton Mahoney Asset Management raised its holdings in e.l.f. Beauty by 3.2% during the 2nd quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock worth $512,000 after buying an additional 75 shares during the period. Hanseatic Management Services Inc. increased its holdings in shares of e.l.f. Beauty by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock valued at $950,000 after purchasing an additional 77 shares during the period. Guardian Asset Advisors LLC increased its holdings in shares of e.l.f. Beauty by 6.5% in the 1st quarter. Guardian Asset Advisors LLC now owns 1,485 shares of the company’s stock valued at $291,000 after purchasing an additional 90 shares during the period. Portside Wealth Group LLC increased its holdings in shares of e.l.f. Beauty by 3.2% in the 2nd quarter. Portside Wealth Group LLC now owns 2,982 shares of the company’s stock valued at $628,000 after purchasing an additional 93 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of e.l.f. Beauty by 27.8% in the 2nd quarter. GAMMA Investing LLC now owns 451 shares of the company’s stock valued at $95,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 1.0 %

The company has a market cap of $5.90 billion, a price-to-earnings ratio of 47.55, a P/E/G ratio of 2.19 and a beta of 1.43. The company has a current ratio of 1.77, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average price of $124.42 and a two-hundred day moving average price of $160.50.

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

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.