e.l.f. Beauty (NYSE:ELF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “e.l.f. Beauty, Inc. operates as a cosmetic company. Its cosmetic category primarily consists of face makeup, eye makeup, lip products, nail products and cosmetics sets/kits, excludes beauty tools and accessories, such as brushes and applicators. e.l.f. Beauty, Inc. is based in Oakland, United States. “
ELF has been the topic of several other research reports. Piper Jaffray Companies cut shares of e.l.f. Beauty from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $23.00 in a research note on Wednesday, November 8th. BMO Capital Markets lowered their target price on shares of e.l.f. Beauty from $38.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, November 9th. Stifel Nicolaus set a $20.00 target price on shares of e.l.f. Beauty and gave the company a “hold” rating in a research note on Tuesday, October 31st. Morgan Stanley lowered their target price on shares of e.l.f. Beauty from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 9th. Finally, Citigroup lowered their target price on shares of e.l.f. Beauty from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. e.l.f. Beauty presently has an average rating of “Buy” and a consensus price target of $23.56.
e.l.f. Beauty (NYSE:ELF) last released its earnings results on Wednesday, November 8th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.14. The firm had revenue of $71.90 million for the quarter, compared to analysts’ expectations of $68.38 million. e.l.f. Beauty had a net margin of 7.02% and a return on equity of 13.90%. e.l.f. Beauty’s quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. equities research analysts forecast that e.l.f. Beauty will post 0.35 earnings per share for the current year.
In other news, insider Jonathan T. Fieldman sold 4,137 shares of e.l.f. Beauty stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $23.00, for a total value of $95,151.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 16.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. TimesSquare Capital Management LLC grew its stake in shares of e.l.f. Beauty by 22.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,746,500 shares of the company’s stock worth $39,384,000 after purchasing an additional 316,500 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of e.l.f. Beauty by 20.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,598,033 shares of the company’s stock worth $43,482,000 after purchasing an additional 275,568 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of e.l.f. Beauty by 11.3% in the 2nd quarter. Alliancebernstein L.P. now owns 1,150,642 shares of the company’s stock worth $31,309,000 after purchasing an additional 116,929 shares during the last quarter. Capital World Investors acquired a new position in shares of e.l.f. Beauty in the 2nd quarter worth approximately $31,144,000. Finally, JPMorgan Chase & Co. grew its stake in shares of e.l.f. Beauty by 6.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 963,896 shares of the company’s stock worth $26,228,000 after purchasing an additional 55,619 shares during the last quarter. 91.24% of the stock is currently owned by institutional investors.
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e.l.f. Beauty Company Profile
e.l.f. Beauty, Inc, formerly J.A. Cosmetics Holdings, Inc, is a cosmetic company. The Company conducts its business under the name e.l.f. Cosmetics, and offers products for eyes, lips and face to consumers through its retail customers, e.l.f. stores and e-commerce channels. The Company offers a range of products for eyes, such as eyeshadow, eyeliner, mascara and eyelashes, eyebrows, concealer and primer, brushes and tools, and sets and palettes.
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