e.l.f. Beauty (NYSE:ELF) Price Target Lowered to $60.00 at Piper Sandler

e.l.f. Beauty (NYSE:ELF) had its price objective decreased by stock analysts at Piper Sandler from $85.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 9.19% from the stock’s previous close.

A number of other brokerages have also weighed in on ELF. Evercore initiated coverage on e.l.f. Beauty in a report on Thursday, April 2nd. They issued an “inline” rating and a $68.00 price objective on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $67.00 target price (down from $80.00) on shares of e.l.f. Beauty in a research report on Friday, May 1st. Robert W. Baird decreased their price target on shares of e.l.f. Beauty from $115.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 28th. Citigroup lowered their price target on shares of e.l.f. Beauty from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Finally, TD Cowen cut their price objective on shares of e.l.f. Beauty from $110.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.06.

e.l.f. Beauty Stock Performance

Shares of NYSE:ELF opened at $54.95 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.76 and a quick ratio of 1.89. e.l.f. Beauty has a 1 year low of $52.78 and a 1 year high of $150.99. The firm has a market capitalization of $3.24 billion, a PE ratio of 31.04, a P/E/G ratio of 3.47 and a beta of 1.71. The business’s 50 day moving average price is $65.76 and its 200-day moving average price is $77.48.

Insiders Place Their Bets

In other e.l.f. Beauty news, CEO Tarang Amin sold 41,520 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $63.66, for a total transaction of $2,643,163.20. Following the completion of the transaction, the chief executive officer owned 112,690 shares of the company’s stock, valued at $7,173,845.40. This trade represents a 26.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Catherine Hartnett sold 20,829 shares of e.l.f. Beauty stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $63.66, for a total transaction of $1,325,974.14. Following the sale, the insider owned 68,726 shares of the company’s stock, valued at approximately $4,375,097.16. This represents a 23.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 210,013 shares of company stock worth $13,315,490. 3.90% of the stock is currently owned by company insiders.

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

Hedge funds have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of e.l.f. Beauty during the fourth quarter worth approximately $26,000. Hilton Head Capital Partners LLC purchased a new position in e.l.f. Beauty in the fourth quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its holdings in e.l.f. Beauty by 97.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock worth $32,000 after acquiring an additional 128 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of e.l.f. Beauty by 58.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock valued at $39,000 after purchasing an additional 117 shares during the last quarter. Finally, Arax Advisory Partners purchased a new stake in shares of e.l.f. Beauty in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Company Profile

e.l.f. Beauty (NYSE: ELF) is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company’s portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.