The Goldman Sachs Group Begins Coverage on e.l.f. Beauty (NYSE:ELF)

The Goldman Sachs Group started coverage on shares of e.l.f. Beauty (NYSE:ELF) in a report issued on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $165.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the company. DA Davidson reiterated a “buy” rating and set a $170.00 price objective on shares of e.l.f. Beauty in a research report on Wednesday, December 11th. Bank of America reduced their price target on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Canaccord Genuity Group dropped their price objective on shares of e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus reduced their target price on shares of e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Finally, Morgan Stanley dropped their price target on shares of 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.65.

e.l.f. Beauty Stock Up 6.9 %

Shares of NYSE ELF opened at $140.63 on Friday. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 76.02, a price-to-earnings-growth ratio of 3.03 and a beta of 1.49. The company’s 50-day simple moving average is $118.97 and its 200-day simple moving average is $148.68. 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 issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The firm had revenue of $301.10 million for the quarter, compared to analyst estimates of $289.43 million. During the same period in the previous year, the company posted $0.66 earnings per share. The business’s revenue was up 39.7% on a year-over-year basis. Equities analysts predict that e.l.f. Beauty will post 2.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other e.l.f. Beauty news, insider Scott Milsten sold 530 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $137.60, for a total transaction of $72,928.00. Following the sale, the insider now owns 68,853 shares in the company, valued at $9,474,172.80. This represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maureen C. Watson sold 785 shares of e.l.f. Beauty stock in a transaction dated Friday, November 29th. The shares were 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 owns 1,888 shares of the company’s stock, valued at $245,440. The trade was a 29.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,205 shares of company stock worth $297,442 over the last three months. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of e.l.f. Beauty by 139.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,203 shares of the company’s stock valued at $1,729,000 after purchasing an additional 4,776 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in e.l.f. Beauty by 44.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,300 shares of the company’s stock valued at $1,328,000 after buying an additional 1,935 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in e.l.f. Beauty during the 2nd quarter worth about $232,000. Raymond James & Associates boosted its position in shares of e.l.f. Beauty by 21.1% during the 2nd quarter. Raymond James & Associates now owns 123,631 shares of the company’s stock worth $26,052,000 after acquiring an additional 21,554 shares in the last quarter. Finally, Lifestyle Asset Management Inc. increased its holdings in shares of e.l.f. Beauty by 24.1% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 1,662 shares of the company’s stock valued at $350,000 after acquiring an additional 323 shares during the last quarter. Hedge funds and other institutional investors 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.