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

e.l.f. Beauty, Inc. (NYSE:ELF)’s stock price fell 2.7% during 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 were traded during mid-day trading, a decline of 43% from the average session volume of 1,730,540 shares. The stock had previously closed at $116.63.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Stifel Nicolaus raised their price target on e.l.f. Beauty from $151.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. B. Riley initiated coverage on e.l.f. Beauty in a research report on Tuesday, September 10th. They set a “buy” rating and a $175.00 price target on the stock. Baird R W raised e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 18th. Finally, TD Cowen lowered their target price on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.80.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 548 shares of e.l.f. Beauty 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 sale, the chief executive officer now directly owns 214,507 shares in the company, valued at $37,538,725. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,370 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $201.28, for a total transaction of $678,313.60. Following the transaction, the senior vice president now directly owns 71,986 shares in the company, valued at $14,489,342.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tarang Amin sold 548 shares of e.l.f. Beauty stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $95,900.00. Following the sale, the chief executive officer now owns 214,507 shares of the company’s stock, valued at $37,538,725. The disclosure for this sale can be found here. Insiders sold a total of 19,304 shares of company stock worth $3,864,492 over the last 90 days. Company insiders own 5.20% of the company’s stock.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Guidance Capital Inc. grew its holdings in e.l.f. Beauty by 1.6% in the fourth quarter. Guidance Capital Inc. now owns 3,510 shares of the company’s stock valued at $490,000 after purchasing an additional 56 shares during the last quarter. Picton Mahoney Asset Management grew its stake in e.l.f. Beauty by 3.2% in the 2nd quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock valued at $512,000 after acquiring an additional 75 shares during the last quarter. Hanseatic Management Services Inc. increased its holdings in e.l.f. Beauty by 1.7% during the 2nd quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock valued at $950,000 after acquiring an additional 77 shares in the last quarter. GAMMA Investing LLC raised its position in e.l.f. Beauty by 33.2% during the first quarter. GAMMA Investing LLC now owns 353 shares of the company’s stock worth $69,000 after acquiring an additional 88 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in shares of e.l.f. Beauty by 0.3% in the fourth quarter. American International Group Inc. now owns 29,435 shares of the company’s stock valued at $4,249,000 after purchasing an additional 90 shares in 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 company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. The firm’s 50-day moving average price is $159.25 and its 200 day moving average price is $176.11. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 50.63, a price-to-earnings-growth ratio of 2.37 and a beta of 1.45.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Thursday, August 8th. The company reported $0.87 EPS for the quarter, beating 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 firm had revenue of $324.48 million for the quarter, compared to analysts’ expectations of $303.60 million. Sell-side analysts expect that e.l.f. Beauty, Inc. will post 2.88 EPS for the current 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.