Truist Financial Forecasts Strong Price Appreciation for e.l.f. Beauty (NYSE:ELF) Stock

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price objective boosted by stock analysts at Truist Financial from $125.00 to $130.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 10.33% from the stock's previous close.

ELF has been the subject of a number of other research reports. The Goldman Sachs Group lowered their price target on e.l.f. Beauty from $142.00 to $124.00 and set a "buy" rating for the company in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of e.l.f. Beauty from $70.00 to $123.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Jefferies Financial Group set a $115.00 target price on e.l.f. Beauty and gave the stock a "buy" rating in a research report on Thursday, May 29th. DA Davidson cut their price objective on shares of e.l.f. Beauty from $80.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Finally, Bank of America boosted their price objective on shares of e.l.f. Beauty from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $120.71.

e.l.f. Beauty Trading Up 1.8%

NYSE:ELF traded up $2.03 during midday trading on Friday, reaching $117.83. 1,992,555 shares of the stock traded hands, compared to its average volume of 2,520,330. The stock has a market capitalization of $6.65 billion, a P/E ratio of 69.72, a PEG ratio of 6.76 and a beta of 1.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.17 and a current ratio of 1.90. The company has a fifty day moving average of $71.30 and a 200 day moving average of $91.67. e.l.f. Beauty has a 12 month low of $49.40 and a 12 month high of $219.77.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. The firm had revenue of $332.65 million for the quarter, compared to analysts' expectations of $327.45 million. e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 earnings per share. On average, research analysts predict that e.l.f. Beauty will post 2.38 EPS for the current year.

Insider Transactions at e.l.f. Beauty

In other e.l.f. Beauty news, CEO Tarang Amin sold 97,915 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $53.36, for a total transaction of $5,224,744.40. Following the completion of the sale, the chief executive officer now owns 181,289 shares of the company's stock, valued at approximately $9,673,581.04. The trade was a 35.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Maureen C. Watson sold 3,875 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $115.00, for a total value of $445,625.00. Following the completion of the sale, the director now owns 1,888 shares of the company's stock, valued at approximately $217,120. The trade was a 67.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,375 shares of company stock worth $23,170,147 in the last quarter. Company insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On e.l.f. Beauty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new position in shares of e.l.f. Beauty in the fourth quarter worth approximately $27,000. Orion Capital Management LLC purchased a new position in shares of e.l.f. Beauty during the 4th quarter valued at $30,000. Promus Capital LLC bought a new position in e.l.f. Beauty in the 4th quarter worth $31,000. Kestra Investment Management LLC purchased a new stake in e.l.f. Beauty in the 4th quarter worth $32,000. Finally, Wilmington Savings Fund Society FSB increased its stake in e.l.f. Beauty by 84.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 429 shares of the company's stock worth $54,000 after buying an additional 197 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Company Profile

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.