e.l.f. Beauty (NYSE:ELF) Trading 5.6% Higher Following Analyst Upgrade

e.l.f. Beauty (NYSE:ELF)’s share price rose 5.6% during trading on Monday after Canaccord Genuity Group raised their price target on the stock from $90.00 to $97.00. Canaccord Genuity Group currently has a buy rating on the stock. e.l.f. Beauty traded as high as $78.70 and last traded at $77.7960. Approximately 848,472 shares traded hands during trading, a decline of 70% from the average session volume of 2,852,890 shares. The stock had previously closed at $73.69.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $64.00 price objective on shares of e.l.f. Beauty in a report on Tuesday, June 16th. Jefferies Financial Group reduced their price target on shares of e.l.f. Beauty from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. UBS Group upped their price target on shares of e.l.f. Beauty from $60.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Raymond James Financial lifted their price objective on shares of e.l.f. Beauty from $85.00 to $87.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley reduced their target price on shares of e.l.f. Beauty from $67.00 to $59.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.38.

Insider Activity at e.l.f. Beauty

In related news, SVP Joshua Allen Franks sold 3,505 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $51.53, for a total value of $180,612.65. Following the completion of the sale, the senior vice president directly owned 150,027 shares in the company, valued at $7,730,891.31. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kory Marchisotto sold 4,352 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $51.53, for a total value of $224,258.56. Following the transaction, the insider owned 181,868 shares of the company’s stock, valued at $9,371,658.04. This trade represents a 2.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 278,988 shares of company stock worth $18,354,580 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of e.l.f. Beauty by 97.0% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock valued at $32,000 after acquiring an additional 128 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in e.l.f. Beauty by 58.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock worth $39,000 after acquiring an additional 117 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in e.l.f. Beauty during the 4th quarter valued at about $26,000. Hilton Head Capital Partners LLC purchased a new position in e.l.f. Beauty during the 4th quarter valued at about $32,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of e.l.f. Beauty in the 3rd quarter valued at about $64,000. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Performance

The firm’s fifty day moving average price is $63.60 and its 200 day moving average price is $71.61. The firm has a market cap of $4.70 billion, a P/E ratio of 173.52, a price-to-earnings-growth ratio of 3.09 and a beta of 1.59. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.69 and a current ratio of 2.35.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data on Wednesday, May 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $449.29 million for the quarter, compared to the consensus estimate of $423.06 million. e.l.f. Beauty had a net margin of 1.61% and a return on equity of 11.02%. The company’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. Sell-side analysts expect that e.l.f. Beauty will post 2.42 EPS for the current fiscal year.

e.l.f. Beauty Company Profile

e.l.f. Beauty (NYSE: ELF) is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company’s portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.