e.l.f. Beauty (NYSE:ELF) Trading Up 5.6% After Analyst Upgrade

e.l.f. Beauty (NYSE:ELF) rose 5.6% during trading on Monday after Canaccord Genuity Group raised their price target on the stock from $90.00 to $97.00. Canaccord Genuity Group currently has a buy rating on the stock. e.l.f. Beauty traded as high as $78.70 and last traded at $77.7960. 848,472 shares traded hands during trading, a decline of 70% from the average session volume of 2,852,890 shares. The stock had previously closed at $73.69.

A number of other research firms have also issued reports on ELF. Sanford C. Bernstein initiated coverage on shares of e.l.f. Beauty in a research report on Thursday, June 11th. They issued a “market perform” rating and a $60.00 price target for the company. UBS Group boosted their price objective on shares of e.l.f. Beauty from $60.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group dropped their price objective on shares of e.l.f. Beauty from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Citigroup increased their target price on shares of e.l.f. Beauty from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of e.l.f. Beauty from $80.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.31.

Insider Buying and Selling at e.l.f. Beauty

In other news, insider Kory Marchisotto sold 4,352 shares of e.l.f. Beauty stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $51.53, for a total transaction of $224,258.56. Following the completion of the sale, the insider directly owned 181,868 shares in the company, valued at $9,371,658.04. The trade was a 2.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tarang Amin sold 50,164 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $78.24, for a total value of $3,924,831.36. Following the completion of the sale, the chief executive officer directly owned 110,496 shares of the company’s stock, valued at approximately $8,645,207.04. The trade was a 31.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 278,988 shares of company stock worth $18,354,580 over the last quarter. Insiders own 3.50% of the company’s stock.

Institutional Trading of e.l.f. Beauty

Several large investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB boosted its holdings in shares of e.l.f. Beauty by 27.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 21,600 shares of the company’s stock worth $1,598,000 after buying an additional 4,700 shares during the period. White Wing Wealth Management boosted its position in shares of e.l.f. Beauty by 17.2% in the second quarter. White Wing Wealth Management now owns 9,476 shares of the company’s stock valued at $701,000 after acquiring an additional 1,391 shares during the period. Sarasin & Partners LLP boosted its position in shares of e.l.f. Beauty by 10.5% in the second quarter. Sarasin & Partners LLP now owns 60,544 shares of the company’s stock valued at $4,480,000 after acquiring an additional 5,757 shares during the period. Cim Investment Management Inc. acquired a new stake in shares of e.l.f. Beauty in the first quarter worth $366,000. Finally, Bank of America Corp DE grew its stake in shares of e.l.f. Beauty by 45.9% in the first quarter. Bank of America Corp DE now owns 418,431 shares of the company’s stock worth $25,361,000 after acquiring an additional 131,572 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Performance

The firm’s 50 day moving average price is $62.63 and its 200-day moving average price is $71.56. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 169.21, a P/E/G ratio of 2.87 and a beta of 1.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.35 and a quick ratio of 1.69.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Wednesday, May 20th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $449.29 million during the quarter, compared to the consensus estimate of $423.06 million. e.l.f. Beauty had a net margin of 1.61% and a return on equity of 11.02%. The business’s revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. On average, analysts anticipate that e.l.f. Beauty will post 2.42 earnings per share for the current year.

About e.l.f. Beauty

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.