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

DA Davidson reiterated their buy rating on shares of e.l.f. Beauty (NYSE:ELF) in a research note released on Monday,Benzinga reports. They currently have a $170.00 target price on the stock.

A number of other equities analysts also recently issued reports on ELF. Jefferies Financial Group dropped their price objective on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. B. Riley dropped their target price on e.l.f. Beauty from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. TD Cowen reduced their price target on e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Bank of America dropped their price objective on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Finally, UBS Group reduced their target price on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.53.

e.l.f. Beauty Trading Up 2.3 %

Shares of NYSE ELF opened at $127.20 on Monday. e.l.f. Beauty has a twelve month low of $98.50 and a twelve month high of $221.83. The firm has a market cap of $7.17 billion, a PE ratio of 68.76, a price-to-earnings-growth ratio of 2.85 and a beta of 1.44. The business has a fifty day simple moving average of $113.07 and a two-hundred day simple moving average of $151.94. 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 (NYSE:ELF) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $289.43 million. During the same period in the previous year, the company posted $0.66 earnings per share. The firm’s quarterly revenue was up 39.7% on a year-over-year basis. Analysts expect that e.l.f. Beauty will post 2.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $136.45, for a total value of $3,210,395.60. Following the transaction, the chief executive officer now directly owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On e.l.f. Beauty

Institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board purchased a new position in e.l.f. Beauty during the 2nd quarter worth approximately $6,659,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of e.l.f. Beauty by 1,380.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,284 shares of the company’s stock worth $1,775,000 after purchasing an additional 15,184 shares during the last quarter. Cetera Investment Advisers lifted its position in e.l.f. Beauty by 33.8% during the second quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock valued at $8,285,000 after purchasing an additional 9,939 shares during the period. Clearbridge Investments LLC boosted its holdings 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 purchasing an additional 576,383 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in e.l.f. Beauty by 14.2% during the 3rd quarter. Congress Asset Management Co. now owns 503,577 shares of the company’s stock worth $54,905,000 after purchasing an additional 62,480 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.