e.l.f. Beauty’s (ELF) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of e.l.f. Beauty (NYSE:ELF) in a research note released on Friday morning, Benzinga reports. The brokerage currently has a $260.00 target price on the stock, up from their previous target price of $258.00.

Other research analysts have also issued reports about the stock. Stifel Nicolaus raised their target price on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the company a hold rating in a report on Monday, July 22nd. Robert W. Baird boosted their target price on shares of e.l.f. Beauty from $230.00 to $240.00 and gave the stock an outperform rating in a report on Friday. Baird R W raised shares of e.l.f. Beauty from a hold rating to a strong-buy rating in a report on Thursday, July 18th. TD Cowen boosted their price objective on e.l.f. Beauty from $190.00 to $235.00 and gave the stock a buy rating in a research note on Tuesday, June 4th. Finally, Raymond James restated a strong-buy rating and set a $235.00 price objective on shares of e.l.f. Beauty in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, e.l.f. Beauty currently has a consensus rating of Moderate Buy and a consensus price target of $217.64.

e.l.f. Beauty Stock Performance

ELF traded down $27.12 during trading on Friday, hitting $160.83. The company’s stock had a trading volume of 7,408,642 shares, compared to its average volume of 1,625,412. The business’s 50 day simple moving average is $190.75 and its 200-day simple moving average is $182.43. The firm has a market cap of $9.00 billion, a PE ratio of 72.45, a P/E/G ratio of 3.66 and a beta of 1.46. e.l.f. Beauty has a one year low of $88.47 and a one year high of $221.83. The company has a quick ratio of 0.95, a current ratio of 1.60 and a debt-to-equity ratio of 0.25.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.16. The business had revenue of $321.14 million for the quarter, compared to the consensus estimate of $292.47 million. e.l.f. Beauty had a net margin of 12.47% and a return on equity of 26.64%. As a group, sell-side analysts predict that e.l.f. Beauty will post 2.84 EPS for the current fiscal year.

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

In other news, CEO Tarang Amin sold 42,953 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $184.96, for a total transaction of $7,944,586.88. Following the sale, the chief executive officer now owns 258,667 shares of the company’s stock, valued at approximately $47,843,048.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Joshua Allen Franks sold 14,253 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total value of $2,636,234.88. Following the sale, the senior vice president now directly owns 83,182 shares of the company’s stock, valued at $15,385,342.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tarang Amin sold 42,953 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total value of $7,944,586.88. Following the sale, the chief executive officer now owns 258,667 shares of the company’s stock, valued at $47,843,048.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,390 shares of company stock valued at $18,264,873. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in shares of e.l.f. Beauty by 5.2% during the 4th quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock valued at $366,744,000 after acquiring an additional 126,231 shares during the last quarter. Swiss National Bank increased its holdings in shares of e.l.f. Beauty by 0.5% during the 1st quarter. Swiss National Bank now owns 108,900 shares of the company’s stock worth $21,348,000 after buying an additional 500 shares during the last quarter. Roman Butler Fullerton & Co. purchased a new stake in shares of e.l.f. Beauty during the 4th quarter valued at approximately $1,294,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in e.l.f. Beauty by 30.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,662 shares of the company’s stock valued at $5,155,000 after acquiring an additional 8,408 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in e.l.f. Beauty in the fourth quarter valued at approximately $3,984,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

About e.l.f. Beauty

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.