e.l.f. Beauty (NYSE:ELF) Receives “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of e.l.f. Beauty (NYSE:ELF) in a report released on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a $165.00 price objective on the stock.

Other analysts have also issued reports about the company. UBS Group raised their price objective on e.l.f. Beauty from $112.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Raymond James Financial increased their target price on e.l.f. Beauty from $155.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft downgraded e.l.f. Beauty from a “buy” rating to a “hold” rating and increased their target price for the company from $121.00 to $128.00 in a research report on Tuesday, September 2nd. The Goldman Sachs Group increased their target price on e.l.f. Beauty from $137.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, B. Riley increased their target price on e.l.f. Beauty from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.73.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $127.18 on Tuesday. The stock’s 50-day simple moving average is $131.59 and its 200 day simple moving average is $108.35. The firm has a market capitalization of $7.54 billion, a PE ratio of 74.81, a price-to-earnings-growth ratio of 2.95 and a beta of 1.57. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $150.99.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The business had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.e.l.f. Beauty’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. On average, analysts anticipate that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other e.l.f. Beauty news, insider Scott Milsten sold 15,000 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $150.23, for a total value of $2,253,450.00. Following the completion of the sale, the insider directly owned 97,406 shares in the company, valued at approximately $14,633,303.38. The trade was a 13.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mandy J. Fields sold 5,298 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $150.21, for a total value of $795,812.58. Following the completion of the sale, the insider owned 58,856 shares of the company’s stock, valued at approximately $8,840,759.76. The trade was a 8.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,060 shares of company stock valued at $40,994,733 in the last 90 days. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On e.l.f. Beauty

A number of institutional investors have recently modified their holdings of ELF. EverSource Wealth Advisors LLC raised its position in shares of e.l.f. Beauty by 97.0% during the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock worth $32,000 after purchasing an additional 128 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of e.l.f. Beauty during the first quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. raised its position in shares of e.l.f. Beauty by 58.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock worth $39,000 after purchasing an additional 117 shares during the period. Larson Financial Group LLC raised its position in shares of e.l.f. Beauty by 56.5% during the first quarter. Larson Financial Group LLC now owns 676 shares of the company’s stock worth $42,000 after purchasing an additional 244 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of e.l.f. Beauty by 577.7% during the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company’s stock worth $49,000 after purchasing an additional 647 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

About e.l.f. Beauty

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.