Piper Sandler Forecasts Strong Price Appreciation for e.l.f. Beauty (NYSE:ELF) Stock

e.l.f. Beauty (NYSE:ELF) had its price objective raised by Piper Sandler from $165.00 to $167.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on the company. Morgan Stanley dropped their price target on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Truist Financial boosted their target price on shares of e.l.f. Beauty from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group reduced their target price on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Robert W. Baird reduced their price objective on e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Finally, Jefferies Financial Group decreased their price objective on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, e.l.f. Beauty presently has an average rating of “Moderate Buy” and an average target price of $171.94.

e.l.f. Beauty Trading Up 0.4 %

NYSE:ELF opened at $125.84 on Monday. e.l.f. Beauty has a 52 week low of $98.50 and a 52 week high of $221.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78. The firm’s fifty day moving average is $125.35 and its 200-day moving average is $142.00. The firm has a market cap of $7.09 billion, a P/E ratio of 68.02, a P/E/G ratio of 3.03 and a beta of 1.50.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.34. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The business had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $289.43 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was up 39.7% compared to the same quarter last year. Equities analysts expect that e.l.f. Beauty will post 2.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 890 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $137.60, for a total transaction of $122,464.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Maureen C. Watson sold 785 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $130.00, for a total transaction of $102,050.00. Following the completion of the transaction, the director now directly owns 1,888 shares in the company, valued at $245,440. This trade represents a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,205 shares of company stock valued at $297,442 in the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

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

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of e.l.f. Beauty by 130.8% in the fourth quarter. GAMMA Investing LLC now owns 861 shares of the company’s stock valued at $108,000 after buying an additional 488 shares during the period. Logan Capital Management Inc. increased its holdings in e.l.f. Beauty by 6.4% in the 3rd quarter. Logan Capital Management Inc. now owns 42,923 shares of the company’s stock worth $4,680,000 after acquiring an additional 2,565 shares during the last quarter. Retirement Systems of Alabama raised its stake in e.l.f. Beauty by 83.6% in the 3rd quarter. Retirement Systems of Alabama now owns 143,758 shares of the company’s stock valued at $15,674,000 after acquiring an additional 65,448 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in e.l.f. Beauty during the third quarter valued at about $1,160,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of e.l.f. Beauty in the third quarter worth about $25,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.