Canaccord Genuity Group Forecasts Strong Price Appreciation for Estee Lauder Companies (NYSE:EL) Stock

Key Points

• The price target for Estee Lauder Companies was raised by Canaccord Genuity Group from $62.00 to $85.00, although the firm maintains a "hold" rating on the stock.
• Other analysts' forecasts vary, with Wells Fargo setting a target of $90.00 and HSBC raising their target to $99.00, indicating a generally positive outlook.
• Currently, Estee Lauder Companies has a market capitalization of $32.69 billion and a P/E ratio of -37.55, reflecting its financial performance amidst fluctuating stock prices.

Estee Lauder Companies (NYSE:EL - Get Free Report) had its price target upped by research analysts at Canaccord Genuity Group from $62.00 to $85.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Canaccord Genuity Group's price objective points to a potential downside of 6.46% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on EL. Wells Fargo & Company upped their target price on shares of Estee Lauder Companies from $60.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. HSBC raised Estee Lauder Companies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $80.00 to $99.00 in a research report on Friday, June 27th. Citigroup boosted their price target on Estee Lauder Companies from $60.00 to $99.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. UBS Group boosted their price target on Estee Lauder Companies from $62.00 to $93.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Piper Sandler reissued an "overweight" rating and set a $75.00 price target (down previously from $92.00) on shares of Estee Lauder Companies in a research report on Friday, May 2nd. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Estee Lauder Companies has an average rating of "Hold" and an average price target of $86.95.

Estee Lauder Companies Stock Up 1.5%

Shares of EL stock opened at $90.87 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 1.68. Estee Lauder Companies has a 1 year low of $48.37 and a 1 year high of $103.44. The firm's fifty day moving average price is $84.79 and its two-hundred day moving average price is $71.79. The firm has a market capitalization of $32.69 billion, a P/E ratio of -37.55, a PEG ratio of 6.49 and a beta of 1.18.

Hedge Funds Weigh In On Estee Lauder Companies

Several large investors have recently modified their holdings of EL. Annis Gardner Whiting Capital Advisors LLC raised its stake in Estee Lauder Companies by 1,182.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 500 shares of the company's stock worth $33,000 after buying an additional 461 shares during the last quarter. Winthrop Capital Management LLC raised its stake in Estee Lauder Companies by 2,240.0% during the first quarter. Winthrop Capital Management LLC now owns 585 shares of the company's stock worth $39,000 after buying an additional 560 shares during the last quarter. TD Private Client Wealth LLC raised its stake in Estee Lauder Companies by 246.4% during the second quarter. TD Private Client Wealth LLC now owns 478 shares of the company's stock worth $39,000 after buying an additional 340 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Estee Lauder Companies by 57.3% during the first quarter. Golden State Wealth Management LLC now owns 626 shares of the company's stock worth $41,000 after buying an additional 228 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in Estee Lauder Companies during the second quarter worth $42,000. Institutional investors own 55.15% of the company's stock.

Estee Lauder Companies Company Profile

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, and powders, as well as compacts, brushes, and other makeup tools.

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