e.l.f. Beauty (NYSE:ELF) Lifted to “Buy” at TD Cowen

TD Cowen upgraded shares of e.l.f. Beauty (NYSE:ELF) from a hold rating to a buy rating in a research note released on Wednesday, Marketbeat reports. TD Cowen currently has $190.00 price objective on the stock, down from their prior price objective of $220.00.

Several other analysts have also issued reports on ELF. DA Davidson restated a buy rating and issued a $220.00 target price on shares of e.l.f. Beauty in a research note on Monday, April 8th. StockNews.com lowered e.l.f. Beauty from a hold rating to a sell rating in a research note on Wednesday, February 7th. Morgan Stanley boosted their target price on e.l.f. Beauty from $168.00 to $184.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. Robert W. Baird initiated coverage on e.l.f. Beauty in a research note on Tuesday, January 30th. They issued a neutral rating and a $185.00 target price on the stock. Finally, Bank of America boosted their target price on e.l.f. Beauty from $200.00 to $230.00 and gave the company a buy rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $184.33.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock opened at $156.73 on Wednesday. The business’s fifty day simple moving average is $186.27 and its 200 day simple moving average is $148.90. The firm has a market capitalization of $8.70 billion, a P/E ratio of 69.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.57. e.l.f. Beauty has a 12 month low of $83.80 and a 12 month high of $221.83. The company has a current ratio of 1.50, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $270.94 million for the quarter, compared to analyst estimates of $239.66 million. e.l.f. Beauty had a return on equity of 28.98% and a net margin of 14.53%. As a group, analysts anticipate that e.l.f. Beauty will post 2.5 EPS for the current year.

Insider Activity

In related news, CEO Tarang Amin sold 23,519 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $198.89, for a total transaction of $4,677,693.91. Following the completion of the transaction, the chief executive officer now directly owns 10,889 shares in the company, valued at $2,165,713.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Joshua Allen Franks sold 727 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $165.16, for a total transaction of $120,071.32. Following the completion of the transaction, the senior vice president now directly owns 83,736 shares in the company, valued at $13,829,837.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Tarang Amin sold 23,519 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $198.89, for a total value of $4,677,693.91. Following the transaction, the chief executive officer now owns 10,889 shares of the company’s stock, valued at $2,165,713.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,325 shares of company stock worth $28,081,154. 5.20% of the stock is owned by corporate insiders.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP purchased a new position in shares of e.l.f. Beauty in the 1st quarter worth about $27,000. Point72 Middle East FZE purchased a new position in shares of e.l.f. Beauty in the 4th quarter worth about $28,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of e.l.f. Beauty in the 3rd quarter worth about $29,000. Armstrong Advisory Group Inc. boosted its holdings in shares of e.l.f. Beauty by 390.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock worth $29,000 after purchasing an additional 160 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in shares of e.l.f. Beauty in the 1st quarter worth about $31,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.