e.l.f. Beauty (NYSE:ELF) Stock Price Down 3.4% Following Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF)’s share price traded down 3.4% during trading on Monday after DA Davidson lowered their price target on the stock from $80.00 to $75.00. DA Davidson currently has a neutral rating on the stock. e.l.f. Beauty traded as low as $65.40 and last traded at $65.84. 584,864 shares changed hands during trading, a decline of 73% from the average session volume of 2,202,128 shares. The stock had previously closed at $68.18.

Several other equities research analysts have also recently issued reports on ELF. JPMorgan Chase & Co. raised their target price on e.l.f. Beauty from $154.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. UBS Group reissued a “neutral” rating and set a $74.00 target price (down previously from $158.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on e.l.f. Beauty in a research note on Thursday, December 12th. They set a “hold” rating and a $133.00 target price for the company. Morgan Stanley reissued an “equal weight” rating and set a $70.00 target price (down from $153.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Finally, B. Riley reissued a “buy” rating and set a $90.00 target price (down from $150.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and an average target price of $132.65.

Insider Activity at e.l.f. Beauty

In related news, Director Maureen C. Watson sold 4,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $67.39, for a total value of $269,560.00. Following the completion of the sale, the director now directly owns 1,888 shares in the company, valued at approximately $127,232.32. This represents a 67.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is owned by insiders.

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

Several large investors have recently modified their holdings of the stock. Brooklyn FI LLC bought a new position in e.l.f. Beauty in the fourth quarter worth about $422,000. Mackenzie Financial Corp lifted its holdings in e.l.f. Beauty by 107.1% in the fourth quarter. Mackenzie Financial Corp now owns 513,647 shares of the company’s stock worth $64,488,000 after acquiring an additional 265,569 shares during the last quarter. GTS Securities LLC lifted its holdings in e.l.f. Beauty by 102.7% in the fourth quarter. GTS Securities LLC now owns 1,806 shares of the company’s stock worth $227,000 after acquiring an additional 68,410 shares during the last quarter. Pinnacle Investment Management Ltd bought a new position in e.l.f. Beauty in the fourth quarter worth about $1,256,000. Finally, Orion Capital Management LLC bought a new position in e.l.f. Beauty in the fourth quarter worth about $30,000. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 3.7 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.17. The stock’s fifty day simple moving average is $92.02 and its 200-day simple moving average is $110.56. The stock has a market cap of $3.70 billion, a P/E ratio of 38.89, a PEG ratio of 6.76 and a beta of 1.60.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. On average, research analysts anticipate that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current year.

About e.l.f. Beauty

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.