Bank of America Increases e.l.f. Beauty (NYSE:ELF) Price Target to $135.00

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price target lifted by equities researchers at Bank of America from $113.00 to $135.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective indicates a potential upside of 9.30% from the stock's previous close.

Several other research firms also recently weighed in on ELF. JPMorgan Chase & Co. lifted their target price on shares of e.l.f. Beauty from $70.00 to $123.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Truist Financial boosted their target price on shares of 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 boosted their price objective on e.l.f. Beauty from $59.00 to $84.00 and gave the company a "neutral" rating in a research note on Wednesday, May 21st. Raymond James Financial raised their target price on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. Finally, Canaccord Genuity Group set a $114.00 price target on e.l.f. Beauty 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, e.l.f. Beauty presently has an average rating of "Moderate Buy" and a consensus price target of $118.88.

e.l.f. Beauty Stock Performance

ELF traded up $3.66 during trading on Friday, hitting $123.51. 1,525,897 shares of the company traded hands, compared to its average volume of 2,556,989. The firm has a market cap of $6.96 billion, a P/E ratio of 63.99, a price-to-earnings-growth ratio of 2.66 and a beta of 1.51. The company has a quick ratio of 2.00, a current ratio of 3.05 and a debt-to-equity ratio of 0.34. e.l.f. Beauty has a one year low of $49.40 and a one year high of $219.77. The stock's fifty day moving average is $85.92 and its 200 day moving average is $90.81.

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

Insider Activity at e.l.f. Beauty

In related news, SVP Joshua Allen Franks sold 51,353 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $2,740,196.08. Following the sale, the senior vice president now directly owns 114,660 shares of the company's stock, valued at approximately $6,118,257.60. This represents a 30.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott Milsten sold 1,442 shares of e.l.f. Beauty stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $114.78, for a total transaction of $165,512.76. Following the completion of the transaction, the insider now directly owns 117,394 shares of the company's stock, valued at $13,474,483.32. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,207 shares of company stock valued at $25,252,926 in the last three months. Company insiders own 3.50% of the company's stock.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in shares of 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 worth $41,250,000 after purchasing an additional 197,028 shares during the last quarter. Global Retirement Partners LLC raised its position in e.l.f. Beauty by 441.0% in the 4th quarter. Global Retirement Partners LLC now owns 8,283 shares of the company's stock worth $1,040,000 after buying an additional 6,752 shares during the last quarter. Mitchell Capital Management Co. bought a new position in e.l.f. Beauty during the 4th quarter valued at about $2,655,000. Harbor Capital Advisors Inc. boosted its holdings in shares of e.l.f. Beauty by 42.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company's stock valued at $6,482,000 after acquiring an additional 30,530 shares during the last quarter. Finally, Granahan Investment Management LLC purchased a new stake in shares of e.l.f. Beauty during the 4th quarter valued at about $9,671,000. 92.44% of the stock is owned by 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.