e.l.f. Beauty (NYSE:ELF) Hits New 52-Week Low - Here's What Happened

Key Points

• e.l.f. Beauty shares fell to a new 52-week low, trading as low as $58.03 and ending the session down 8.4% at about $57.11. The stock was well below its 50-day and 200-day moving averages.
• Several analysts cut price targets on the stock recently, even though the consensus rating remains “Moderate Buy.” The average price target is now $103.06, with firms like UBS and Citi lowering their targets materially.
• Insider selling added pressure, with executives Scott Milsten and Mandy J. Fields each selling more than 23,000 shares on April 27. Insiders have sold 210,013 shares over the last quarter.

Shares of e.l.f. Beauty (NYSE:ELF - Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $58.03 and last traded at $57.1060, with a volume of 309358 shares traded. The stock had previously closed at $60.86.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of e.l.f. Beauty from a "sell" rating to a "hold" rating in a research report on Saturday, January 24th. Bank of America lowered their price objective on shares of e.l.f. Beauty from $115.00 to $93.00 and set a "buy" rating for the company in a research note on Friday, April 10th. UBS Group lowered their price objective on shares of e.l.f. Beauty from $102.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Citigroup reduced their price objective on e.l.f. Beauty from $115.00 to $87.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Finally, TD Cowen reduced their price objective on e.l.f. Beauty from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, e.l.f. Beauty presently has a consensus rating of "Moderate Buy" and an average price target of $103.06.

e.l.f. Beauty Trading Down 8.4%

The company's fifty day moving average is $70.01 and its two-hundred day moving average is $80.94. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 3.28 and a beta of 1.71. The company has a quick ratio of 1.89, a current ratio of 2.76 and a debt-to-equity ratio of 0.70.

Insider Transactions at e.l.f. Beauty

In related news, insider Scott Milsten sold 23,797 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $63.66, for a total value of $1,514,917.02. Following the sale, the insider owned 114,940 shares of the company's stock, valued at $7,317,080.40. This trade represents a 17.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mandy J. Fields sold 23,656 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $63.66, for a total transaction of $1,505,940.96. Following the completion of the sale, the insider directly owned 77,437 shares in the company, valued at approximately $4,929,639.42. This trade represents a 23.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 210,013 shares of company stock valued at $13,315,490 over the last quarter. Insiders own 3.90% of the company's stock.

Institutional Trading of e.l.f. Beauty

Several hedge funds have recently added to or reduced their stakes in ELF. Vanguard Group Inc. raised its holdings in e.l.f. Beauty by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 5,487,304 shares of the company's stock worth $417,255,000 after purchasing an additional 140,258 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in e.l.f. Beauty by 47.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,197,319 shares of the company's stock worth $167,086,000 after purchasing an additional 711,540 shares in the last quarter. State Street Corp raised its holdings in e.l.f. Beauty by 0.8% during the fourth quarter. State Street Corp now owns 1,737,181 shares of the company's stock worth $132,095,000 after purchasing an additional 13,231 shares in the last quarter. Swedbank AB raised its holdings in e.l.f. Beauty by 97.0% during the fourth quarter. Swedbank AB now owns 1,364,801 shares of the company's stock worth $103,779,000 after purchasing an additional 672,071 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its holdings in e.l.f. Beauty by 37.7% during the fourth quarter. Ensign Peak Advisors Inc now owns 1,319,523 shares of the company's stock worth $100,337,000 after purchasing an additional 361,371 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

About e.l.f. Beauty

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.

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