Piper Jaffray Companies Increases Estee Lauder Companies (EL) Price Target to $178.00

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Estee Lauder Companies (NYSE:EL) had its price objective raised by Piper Jaffray Companies from $161.00 to $178.00 in a research note published on Thursday morning, The Fly reports. The firm currently has a positive rating on the stock. Piper Jaffray Companies also issued estimates for Estee Lauder Companies’ Q3 2019 earnings at $1.30 EPS, FY2019 earnings at $5.10 EPS and FY2021 earnings at $6.42 EPS.

Several other brokerages have also issued reports on EL. Citigroup upgraded shares of Estee Lauder Companies from a neutral rating to a buy rating and increased their price target for the stock from $145.00 to $155.00 in a research note on Wednesday, January 2nd. Credit Suisse Group increased their price target on shares of Estee Lauder Companies from $165.00 to $175.00 and gave the stock an outperform rating in a research note on Wednesday, February 6th. JPMorgan Chase & Co. upgraded shares of Estee Lauder Companies from a neutral rating to an overweight rating and increased their price target for the stock from $160.00 to $175.00 in a research note on Thursday, March 7th. Goldman Sachs Group lowered shares of Estee Lauder Companies from a neutral rating to a sell rating and decreased their price target for the stock from $171.00 to $116.00 in a research note on Tuesday, January 8th. Finally, Wells Fargo & Co reiterated a hold rating and issued a $142.00 price target (up from $135.00) on shares of Estee Lauder Companies in a research note on Tuesday, February 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $164.22.

Shares of NYSE EL opened at $172.50 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.71 and a quick ratio of 1.27. Estee Lauder Companies has a 12 month low of $121.47 and a 12 month high of $172.76. The firm has a market capitalization of $62.30 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 2.63 and a beta of 0.72.

Estee Lauder Companies (NYSE:EL) last issued its quarterly earnings data on Tuesday, February 5th. The company reported $1.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.20. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.92 billion. Estee Lauder Companies had a net margin of 11.49% and a return on equity of 40.38%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 EPS. Equities research analysts expect that Estee Lauder Companies will post 5.08 EPS for the current year.

In related news, insider John Demsey sold 11,179 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $136.02, for a total transaction of $1,520,567.58. Following the sale, the insider now directly owns 10,288 shares of the company’s stock, valued at approximately $1,399,373.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Irvine O. Hockaday, Jr. sold 1,500 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $155.31, for a total transaction of $232,965.00. The disclosure for this sale can be found here. Insiders have sold a total of 574,507 shares of company stock worth $89,174,250 over the last three months. 16.13% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Highwater Wealth Management LLC purchased a new stake in shares of Estee Lauder Companies during the 4th quarter valued at about $89,000. BTIM Corp. boosted its holdings in shares of Estee Lauder Companies by 2.0% during the 4th quarter. BTIM Corp. now owns 227,781 shares of the company’s stock valued at $29,635,000 after acquiring an additional 4,500 shares during the last quarter. Boston Advisors LLC boosted its holdings in shares of Estee Lauder Companies by 2.0% during the 4th quarter. Boston Advisors LLC now owns 9,876 shares of the company’s stock valued at $1,285,000 after acquiring an additional 190 shares during the last quarter. Fundsmith LLP boosted its holdings in shares of Estee Lauder Companies by 6.7% during the 4th quarter. Fundsmith LLP now owns 6,275,561 shares of the company’s stock valued at $911,965,000 after acquiring an additional 394,564 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its holdings in shares of Estee Lauder Companies by 2.2% during the 4th quarter. Commonwealth Bank of Australia now owns 19,874 shares of the company’s stock valued at $2,580,000 after acquiring an additional 434 shares during the last quarter. 53.79% of the stock is currently owned by institutional investors.

About Estee Lauder Companies

The Estée Lauder Companies Inc manufactures and markets skin care, makeup, fragrance, and hair care products. The company offers a range of skin care products, such as moisturizers, serums, cleansers, toners, body care products, exfoliators, acne care products, facial masks, cleansing devices, and sun care products; and makeup products, including lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as related items, including compacts, brushes, and other makeup tools.

Further Reading: What does cost of debt say about a company’s financial health?

The Fly

Analyst Recommendations for Estee Lauder Companies (NYSE:EL)

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