e.l.f. Beauty (NYSE:ELF) Stock Rating Upgraded by TD Cowen

TD Cowen upgraded shares of e.l.f. Beauty (NYSE:ELF) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. TD Cowen currently has $190.00 price objective on the stock, down from their previous price objective of $220.00.

Other equities analysts also recently issued reports about the company. Raymond James raised their price target on e.l.f. Beauty from $140.00 to $180.00 and gave the stock a strong-buy rating in a research note on Monday, January 22nd. Bank of America lifted their target price on e.l.f. Beauty from $200.00 to $230.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Truist Financial lifted their target price on e.l.f. Beauty from $150.00 to $200.00 and gave the company a buy rating in a research report on Wednesday, February 7th. Stifel Nicolaus lifted their target price on e.l.f. Beauty from $141.00 to $167.00 and gave the company a hold rating in a research report on Wednesday, February 7th. Finally, Robert W. Baird began coverage on e.l.f. Beauty in a research report on Tuesday, January 30th. They set a neutral rating and a $185.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $184.33.

e.l.f. Beauty Stock Performance

ELF stock opened at $156.73 on Wednesday. The company has a market cap of $8.70 billion, a P/E ratio of 69.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.57. e.l.f. Beauty has a 1 year low of $83.80 and a 1 year high of $221.83. 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 stock’s fifty day moving average price is $186.27 and its 200-day moving average price is $148.90.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The firm had revenue of $270.94 million for the quarter, compared to the consensus estimate of $239.66 million. e.l.f. Beauty had a return on equity of 28.98% and a net margin of 14.53%. On average, equities analysts forecast that e.l.f. Beauty will post 2.5 earnings per share for the current year.

Insider Activity

In other news, CEO Tarang Amin sold 23,519 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $198.89, for a total value of $4,677,693.91. Following the transaction, the chief executive officer now directly owns 10,889 shares in the company, valued at $2,165,713.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Tarang Amin sold 23,519 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $198.89, for a total value of $4,677,693.91. Following the transaction, the chief executive officer now directly owns 10,889 shares in the company, valued at $2,165,713.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joshua Allen Franks sold 727 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $165.16, for a total value of $120,071.32. Following the completion of the transaction, the senior vice president now owns 83,736 shares in the company, valued at $13,829,837.76. The disclosure for this sale can be found here. Insiders have sold 164,325 shares of company stock worth $28,081,154 over the last ninety days. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On e.l.f. Beauty

Several large investors have recently made changes to their positions in ELF. Advisor Group Holdings Inc. increased its holdings in shares of e.l.f. Beauty by 7.6% in the first quarter. Advisor Group Holdings Inc. now owns 6,765 shares of the company’s stock worth $174,000 after purchasing an additional 476 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of e.l.f. Beauty by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 428,775 shares of the company’s stock worth $11,076,000 after purchasing an additional 4,476 shares during the last quarter. Citigroup Inc. increased its holdings in shares of e.l.f. Beauty by 12.4% in the first quarter. Citigroup Inc. now owns 41,711 shares of the company’s stock worth $1,077,000 after purchasing an additional 4,617 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in shares of e.l.f. Beauty in the first quarter worth about $342,000. Finally, MetLife Investment Management LLC increased its holdings in shares of e.l.f. Beauty by 53.3% in the first quarter. MetLife Investment Management LLC now owns 26,424 shares of the company’s stock worth $683,000 after purchasing an additional 9,189 shares during the last quarter. 92.44% of the stock is 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.