Bank of America Issues Positive Forecast for e.l.f. Beauty (NYSE:ELF) Stock Price

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price objective upped by Bank of America from $113.00 to $135.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price would suggest a potential upside of 15.41% from the company's current price.

ELF has been the topic of several other research reports. Robert W. Baird lifted their target price on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. Truist Financial upped their target price on e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 6th. UBS Group upped their price objective on shares of e.l.f. Beauty from $59.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, May 21st. The Goldman Sachs Group cut their price target on shares of e.l.f. Beauty from $142.00 to $124.00 and set a "buy" rating for the company in a report on Friday, February 21st. Finally, Jefferies Financial Group set a $115.00 target price on e.l.f. Beauty and gave the company a "buy" rating in a research report on Thursday, May 29th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.88.

e.l.f. Beauty Price Performance

NYSE:ELF traded down $5.27 during trading hours on Friday, reaching $116.97. 1,045,768 shares of the company were exchanged, compared to its average volume of 2,547,161. The company has a current ratio of 3.05, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34. The firm has a market cap of $6.59 billion, a PE ratio of 60.61, a price-to-earnings-growth ratio of 2.71 and a beta of 1.52. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $219.77. The stock's 50-day moving average is $84.59 and its 200-day moving average is $91.45.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. The business had revenue of $332.65 million during the quarter, compared to analysts' expectations of $327.45 million. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. The business's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, sell-side analysts anticipate that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other e.l.f. Beauty news, insider Kory Marchisotto sold 51,350 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $53.36, for a total value of $2,740,036.00. Following the sale, the insider now owns 152,492 shares of the company's stock, valued at $8,136,973.12. This trade represents a 25.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott Milsten sold 1,442 shares of e.l.f. Beauty stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $114.78, for a total value of $165,512.76. Following the completion of the transaction, the insider now owns 117,394 shares of the company's stock, valued at $13,474,483.32. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,207 shares of company stock worth $25,252,926 over the last 90 days. Corporate insiders own 3.50% of the company's stock.

Institutional Trading of e.l.f. Beauty

A number of large investors have recently made changes to their positions in ELF. Principal Securities Inc. grew its position in shares of e.l.f. Beauty by 61.8% in the 4th quarter. Principal Securities Inc. now owns 1,178 shares of the company's stock valued at $148,000 after buying an additional 450 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in e.l.f. Beauty by 149.8% in the fourth quarter. Principal Financial Group Inc. now owns 328,557 shares of the company's stock valued at $41,250,000 after acquiring an additional 197,028 shares during the period. CIBC Asset Management Inc purchased a new stake in e.l.f. Beauty during the fourth quarter worth about $211,000. Truist Financial Corp boosted its stake in shares of e.l.f. Beauty by 1.3% during the 4th quarter. Truist Financial Corp now owns 7,885 shares of the company's stock worth $990,000 after acquiring an additional 102 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in e.l.f. Beauty in the fourth quarter valued at $285,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.

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