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

e.l.f. Beauty (NYSE:ELF)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a research report issued on Wednesday,Benzinga reports. They presently have a $170.00 price target on the stock. DA Davidson’s price target indicates a potential upside of 29.26% from the company’s current price.

ELF has been the subject of a number of other reports. Bank of America reduced their price target on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Morgan Stanley cut their price objective on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Stifel Nicolaus cut their price objective on e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Canaccord Genuity Group decreased their price objective on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.00.

e.l.f. Beauty Stock Down 5.0 %

Shares of e.l.f. Beauty stock opened at $131.52 on Wednesday. The firm’s 50 day moving average price is $117.75 and its 200-day moving average price is $149.71. The company has a market cap of $7.41 billion, a P/E ratio of 71.09, a PEG ratio of 3.06 and a beta of 1.49. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. e.l.f. Beauty has a 52-week low of $98.50 and a 52-week high of $221.83.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The company had revenue of $301.10 million during the quarter, compared to analysts’ expectations of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. e.l.f. Beauty’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. On average, sell-side analysts predict that e.l.f. Beauty will post 2.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Maureen C. Watson sold 785 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $130.00, for a total value of $102,050.00. Following the completion of the transaction, the director now directly owns 1,888 shares of the company’s stock, valued at $245,440. This represents a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tarang Amin sold 890 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $137.60, for a total value of $122,464.00. Following the completion of the transaction, the chief executive officer now directly owns 99,699 shares of the company’s stock, valued at $13,718,582.40. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,205 shares of company stock worth $297,442 over the last 90 days. Corporate insiders own 3.50% of the company’s stock.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its holdings in e.l.f. Beauty by 39.5% in the third quarter. Baillie Gifford & Co. now owns 5,305,692 shares of the company’s stock valued at $578,480,000 after purchasing an additional 1,501,151 shares in the last quarter. State Street Corp lifted its stake in e.l.f. Beauty by 3.7% in the third quarter. State Street Corp now owns 1,665,203 shares of the company’s stock valued at $181,557,000 after buying an additional 59,248 shares during the last quarter. William Blair Investment Management LLC lifted its stake in e.l.f. Beauty by 12.5% in the second quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company’s stock valued at $318,647,000 after buying an additional 168,267 shares during the last quarter. Clearbridge Investments LLC lifted its stake in e.l.f. Beauty by 84.4% in the second quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after buying an additional 576,383 shares during the last quarter. Finally, FMR LLC lifted its stake in e.l.f. Beauty by 5.5% in the third quarter. FMR LLC now owns 1,186,766 shares of the company’s stock valued at $129,393,000 after buying an additional 61,524 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

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.