Truist Financial Raises e.l.f. Beauty (NYSE:ELF) Price Target to $130.00

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price target raised 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 price target would suggest a potential upside of 11.43% from the company's current price.

A number of other research analysts have also commented on the company. Jefferies Financial Group set a $115.00 target price on e.l.f. Beauty and gave the company a "buy" rating in a research note on Thursday, May 29th. Piper Sandler restated an "overweight" rating and issued a $109.00 target price (up from $81.00) on shares of e.l.f. Beauty in a research note on Thursday, May 29th. UBS Group upped their target price 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. Morgan Stanley increased their price objective on e.l.f. Beauty from $70.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. lifted their price objective on e.l.f. Beauty from $70.00 to $123.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, e.l.f. Beauty presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.71.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock traded down $0.99 during midday trading on Friday, hitting $116.67. The company had a trading volume of 1,666,545 shares, compared to its average volume of 2,523,335. The business's 50 day simple moving average is $72.37 and its two-hundred day simple moving average is $91.24. The stock has a market cap of $6.57 billion, a PE ratio of 69.04, a P/E/G ratio of 6.76 and a beta of 1.52. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.17. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $219.77.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued 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 analyst estimates of $327.45 million. e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. e.l.f. Beauty's revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $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

In other e.l.f. Beauty news, insider Kory Marchisotto sold 51,350 shares of the firm'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 $2,740,036.00. Following the transaction, the insider now owns 152,492 shares in the company, valued at approximately $8,136,973.12. This trade represents a 25.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tarang Amin sold 97,915 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $53.36, for a total value of $5,224,744.40. Following the transaction, the chief executive officer now owns 181,289 shares in the company, valued at approximately $9,673,581.04. This trade represents a 35.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,207 shares of company stock worth $25,252,926. 3.50% of the stock is owned by corporate insiders.

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

Several institutional investors have recently modified their holdings of the business. Cim LLC lifted its holdings in shares of e.l.f. Beauty by 6.4% during the 1st quarter. Cim LLC now owns 11,229 shares of the company's stock valued at $705,000 after purchasing an additional 671 shares in the last quarter. Strs Ohio bought a new position in shares of e.l.f. Beauty during the 1st quarter valued at about $2,103,000. Peloton Wealth Strategists bought a new position in shares of e.l.f. Beauty during the 1st quarter valued at about $477,000. United Services Automobile Association bought a new position in shares of e.l.f. Beauty during the 1st quarter valued at about $240,000. Finally, Fred Alger Management LLC bought a new stake in e.l.f. Beauty during the first quarter worth $3,754,000. 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.