The Goldman Sachs Group Forecasts Strong Price Appreciation for e.l.f. Beauty (NYSE:ELF) Stock

e.l.f. Beauty (NYSE:ELF) had its target price lifted by The Goldman Sachs Group from $137.00 to $155.00 in a research note published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other brokerages have also weighed in on ELF. Deutsche Bank Aktiengesellschaft lowered shares of e.l.f. Beauty from a “buy” rating to a “hold” rating and increased their price objective for the company from $121.00 to $128.00 in a report on Tuesday, September 2nd. B. Riley raised their price target on e.l.f. Beauty from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Piper Sandler began coverage on e.l.f. Beauty in a research note on Thursday, September 4th. They set an “overweight” rating and a $150.00 price objective for the company. Robert W. Baird increased their target price on e.l.f. Beauty from $110.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, June 6th. Finally, Morgan Stanley upgraded e.l.f. Beauty from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $114.00 to $134.00 in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.60.

e.l.f. Beauty Trading Down 0.8%

ELF stock opened at $134.88 on Thursday. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $150.99. The company has a market cap of $8.00 billion, a P/E ratio of 79.34, a PEG ratio of 3.12 and a beta of 1.57. The business has a fifty day moving average of $126.47 and a 200-day moving average of $102.31.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The firm had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. During the same period last year, the company earned $1.10 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts expect that e.l.f. Beauty will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Joshua Allen Franks sold 7,913 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $145.00, for a total value of $1,147,385.00. Following the completion of the transaction, the senior vice president owned 99,369 shares in the company, valued at $14,408,505. This represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mandy J. Fields sold 55,692 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $136.28, for a total transaction of $7,589,705.76. Following the sale, the insider directly owned 64,154 shares of the company’s stock, valued at $8,742,907.12. This represents a 46.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 301,060 shares of company stock worth $40,994,733 in the last three months. 3.90% of the stock is owned by corporate insiders.

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

Large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its stake in shares of e.l.f. Beauty by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company’s stock valued at $1,979,000 after purchasing an additional 100 shares during the period. Securian Asset Management Inc. grew its holdings in shares of e.l.f. Beauty by 2.4% during the second quarter. Securian Asset Management Inc. now owns 4,327 shares of the company’s stock worth $538,000 after buying an additional 100 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of e.l.f. Beauty by 0.7% during the second quarter. State of Michigan Retirement System now owns 13,600 shares of the company’s stock worth $1,692,000 after buying an additional 100 shares in the last quarter. Farther Finance Advisors LLC raised its position in e.l.f. Beauty by 11.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 993 shares of the company’s stock valued at $124,000 after buying an additional 105 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in 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 acquiring an additional 117 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.