Morgan Stanley Reiterates “Equal Weight” Rating for e.l.f. Beauty (NYSE:ELF)

e.l.f. Beauty (NYSE:ELF)‘s stock had its “equal weight” rating restated by Morgan Stanley in a note issued to investors on Friday,Benzinga reports. They currently have a $70.00 price target on the stock, down from their previous price target of $153.00. Morgan Stanley’s price objective points to a potential downside of 21.13% from the company’s current price.

A number of other research analysts also recently commented on the stock. DA Davidson downgraded shares of e.l.f. Beauty from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $80.00 in a research note on Friday. UBS Group reiterated a “neutral” rating and issued a $74.00 price target (down from $158.00) on shares of e.l.f. Beauty in a research note on Friday. Truist Financial boosted their price objective on e.l.f. Beauty from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Stifel Nicolaus reduced their target price on e.l.f. Beauty from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Monday. Finally, Canaccord Genuity Group lowered their price target on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.24.

e.l.f. Beauty Stock Up 1.6 %

Shares of e.l.f. Beauty stock opened at $88.76 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01. e.l.f. Beauty has a 1-year low of $85.41 and a 1-year high of $221.83. The business has a 50-day moving average of $124.44 and a 200-day moving average of $128.89. The company has a market capitalization of $5.00 billion, a PE ratio of 47.98, a P/E/G ratio of 1.74 and a beta of 1.47.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. As a group, equities analysts forecast that e.l.f. Beauty will post 2.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Scott Milsten sold 530 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $137.60, for a total transaction of $72,928.00. Following the sale, the insider now owns 68,853 shares of the company’s stock, valued at $9,474,172.80. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tarang Amin sold 890 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $137.60, for a total value of $122,464.00. Following the transaction, the chief executive officer now directly owns 99,699 shares of the company’s stock, valued at approximately $13,718,582.40. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,205 shares of company stock valued at $297,442 in the last three months. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of e.l.f. Beauty

A number of hedge funds and other institutional investors have recently modified their holdings of ELF. Wilmington Savings Fund Society FSB acquired a new position in e.l.f. Beauty during the third quarter worth about $25,000. Promus Capital LLC bought a new position in shares of e.l.f. Beauty during the 4th quarter valued at about $31,000. Kestra Investment Management LLC acquired a new position in shares of e.l.f. Beauty in the 4th quarter worth approximately $32,000. Financial Life Planners bought a new stake in shares of e.l.f. Beauty in the 4th quarter worth approximately $46,000. Finally, Planning Capital Management Corp lifted its stake in e.l.f. Beauty by 1,855.0% during the third quarter. Planning Capital Management Corp now owns 391 shares of the company’s stock valued at $43,000 after purchasing an additional 371 shares during 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.