e.l.f. Beauty (NYSE:ELF) Raised to “Buy” at TD Cowen

e.l.f. Beauty (NYSE:ELF) was upgraded by analysts at TD Cowen from a “hold” rating to a “buy” rating in a report released on Wednesday, Marketbeat reports. The firm currently has a $190.00 target price on the stock, down from their prior target price of $220.00. TD Cowen’s price target would indicate a potential upside of 14.52% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Truist Financial lifted their price target on shares of e.l.f. Beauty from $150.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Morgan Stanley lifted their price target on shares of e.l.f. Beauty from $168.00 to $184.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. DA Davidson reaffirmed a “buy” rating and issued a $220.00 price target on shares of e.l.f. Beauty in a report on Monday, April 8th. Bank of America lifted their price target on shares of e.l.f. Beauty from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of e.l.f. Beauty from $130.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, e.l.f. Beauty has an average rating of “Moderate Buy” and a consensus price target of $184.33.

e.l.f. Beauty Stock Up 0.1 %

e.l.f. Beauty stock traded up $0.23 during midday trading on Wednesday, hitting $165.91. 1,369,429 shares of the stock were exchanged, compared to its average volume of 1,534,684. e.l.f. Beauty has a 1 year low of $83.80 and a 1 year high of $221.83. The firm has a market cap of $9.21 billion, a P/E ratio of 73.85, a P/E/G ratio of 1.52 and a beta of 1.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.50 and a quick ratio of 0.83. The company has a 50 day moving average price of $186.67 and a two-hundred day moving average price of $148.31.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. The company had revenue of $270.94 million during the quarter, compared to analyst estimates of $239.66 million. e.l.f. Beauty had a net margin of 14.53% and a return on equity of 28.98%. On average, sell-side analysts predict that e.l.f. Beauty will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,519 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total transaction of $4,677,693.91. Following the sale, the chief executive officer now directly owns 10,889 shares in the company, valued at approximately $2,165,713.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.20% of the stock is owned by insiders.

Institutional Trading of e.l.f. Beauty

A number of hedge funds and other institutional investors have recently made changes to their positions in ELF. Harbor Investment Advisory LLC bought a new stake in shares of e.l.f. Beauty in the 1st quarter worth approximately $31,000. Armstrong Advisory Group Inc. raised its holdings in shares of e.l.f. Beauty by 390.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock worth $29,000 after purchasing an additional 160 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of e.l.f. Beauty in the 1st quarter worth approximately $40,000. GPS Wealth Strategies Group LLC raised its holdings in shares of e.l.f. Beauty by 66.4% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 243 shares of the company’s stock worth $35,000 after purchasing an additional 97 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of e.l.f. Beauty in the 4th quarter worth approximately $42,000. 92.44% of the stock is currently owned by 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.