Estee Lauder Companies (NYSE:EL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $150.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.31% from the company’s previous close.
According to Zacks, “Estee Lauder has surpassed the industry over a year, courtesy of focus on buyouts and product launches; strength in emerging markets; and solid growth in travel retail and online business. These factors helped the company to mark its 14th and 4th straight earnings and sales beat, respectively in second-quarter fiscal 2018, wherein both top and bottom lines grew year over year. Results gained from solid cost savings and contributions from BECCA and Too Faced. Sturdy growth in travel retail and online channels also drove performance. Notably, the company witnessed strength in most geographic regions and categories — with skin care and makeup standing out. Continued growth opportunities in the global prestige beauty industry, along with expected gains from tax reforms also led to a raised view. However, weak gross margin and soft U.S. retail traffic remain hurdles. Macroeconomic issues that could affect consumer spending also pose threats.”
Other analysts also recently issued reports about the company. DA Davidson increased their target price on Estee Lauder Companies to $131.00 and gave the company a “neutral” rating in a research note on Tuesday. BMO Capital Markets raised their price target on Estee Lauder Companies to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. Royal Bank of Canada restated an “outperform” rating and issued a $145.00 price target (down from $155.00) on shares of Estee Lauder Companies in a research note on Monday. Sanford C. Bernstein restated an “outperform” rating and issued a $144.00 price target (up from $134.00) on shares of Estee Lauder Companies in a research note on Monday. Finally, Bank of America raised their price target on Estee Lauder Companies from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $126.96.
Estee Lauder Companies (NYSE:EL) last issued its earnings results on Friday, February 2nd. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.44 by $0.08. Estee Lauder Companies had a return on equity of 34.86% and a net margin of 8.43%. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the business posted $1.22 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. equities analysts expect that Estee Lauder Companies will post 4.35 earnings per share for the current fiscal year.
In related news, insider John Demsey sold 11,179 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $136.54, for a total value of $1,526,380.66. Following the transaction, the insider now directly owns 23,898 shares of the company’s stock, valued at approximately $3,263,032.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Cedric Prouve sold 100,927 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $123.01, for a total value of $12,415,030.27. Following the completion of the transaction, the insider now directly owns 227,119 shares in the company, valued at $27,937,908.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,489,209 shares of company stock worth $187,144,645. 16.24% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Moors & Cabot Inc. raised its holdings in Estee Lauder Companies by 1.1% during the second quarter. Moors & Cabot Inc. now owns 3,825 shares of the company’s stock valued at $365,000 after acquiring an additional 40 shares during the period. Wealthsource Partners LLC raised its holdings in Estee Lauder Companies by 3.6% during the second quarter. Wealthsource Partners LLC now owns 3,092 shares of the company’s stock valued at $297,000 after acquiring an additional 108 shares during the period. Gofen & Glossberg LLC IL raised its holdings in Estee Lauder Companies by 0.8% during the second quarter. Gofen & Glossberg LLC IL now owns 35,955 shares of the company’s stock valued at $3,451,000 after acquiring an additional 300 shares during the period. Dowling & Yahnke LLC raised its holdings in Estee Lauder Companies by 4.4% during the fourth quarter. Dowling & Yahnke LLC now owns 9,377 shares of the company’s stock valued at $1,193,000 after acquiring an additional 393 shares during the period. Finally, Pitcairn Co. raised its holdings in Estee Lauder Companies by 1.6% during the third quarter. Pitcairn Co. now owns 29,212 shares of the company’s stock valued at $3,150,000 after acquiring an additional 457 shares during the period. 54.40% of the stock is currently owned by institutional investors.
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Estee Lauder Companies Company Profile
The Estee Lauder Companies Inc manufactures and markets skin care, makeup, fragrance and hair care products. The Company offers products, including skin care, makeup, fragrance, hair care and other. The Company operates in beauty products segment. The Company’s products are sold in over 150 countries and territories under brand names, including Estee Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, MAC, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frederic Malle, GLAMGLOW, By Kilian, BECCA and Too Faced.
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