SunTrust Banks Inc. Initiates Coverage on e.l.f. Beauty Inc (ELF)
Investment analysts at SunTrust Banks Inc. initiated coverage on shares of e.l.f. Beauty Inc (NYSE:ELF) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set a “buy” rating on the stock.
Other research analysts have also issued reports about the company. William Blair initiated coverage on e.l.f. Beauty in a report on Monday. They issued an “outperform” rating on the stock. Piper Jaffray Cos. initiated coverage on e.l.f. Beauty in a research report on Monday. They set an “overweight” rating for the company. Stifel Nicolaus initiated coverage on e.l.f. Beauty in a research report on Monday. They set a “hold” rating and a $25.00 target price for the company. JPMorgan Chase & Co. initiated coverage on e.l.f. Beauty in a research report on Monday. They set a “neutral” rating for the company. Finally, Wells Fargo & Co. initiated coverage on e.l.f. Beauty in a research report on Monday. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. e.l.f. Beauty currently has an average rating of “Buy” and an average target price of $25.00.
Shares of e.l.f. Beauty (NYSE:ELF) opened at 26.94 on Monday. e.l.f. Beauty has a 12 month low of $23.73 and a 12 month high of $28.92. The firm’s market capitalization is $83.73 million. The company has a 50-day moving average price of $26.37 and a 200-day moving average price of $26.37.
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In related news, major shareholder Cosmetics Corp. J.A. sold 1,457,901 shares of the company’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $15.81, for a total transaction of $23,049,414.81. Following the completion of the sale, the insider now directly owns 8,279,999 shares in the company, valued at approximately $130,906,784.19. The sale was disclosed in a filing with the SEC, which is available through this link.
About e.l.f. Beauty
e.l.f. Beauty, Inc is a holding company that offers its services in the cosmetics category. The Company’s cosmetics category consists of face makeup, eye makeup, lip products, nail products and cosmetics sets/kits, and excludes beauty tools and accessories, such as brushes and applicators. It offers various brands in the cosmetics industry.
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