e.l.f. Beauty (NYSE:ELF) Price Target Raised to $160.00 at B. Riley

Key Points

• B. Riley has raised e.l.f. Beauty's price target from $150.00 to $160.00, indicating a potential upside of 14.65% from the stock's previous close.
• Multiple analysts have upgraded e.l.f. Beauty, with Morgan Stanley raising its rating to "overweight" and setting a target price of $134.00.
• e.l.f. Beauty's stock performance shows significant growth, with a current market price around $139.56 and an estimated EPS of 2.38 for the current fiscal year.

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price target lifted by research analysts at B. Riley from $150.00 to $160.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley's target price would suggest a potential upside of 14.65% from the stock's previous close.

Other analysts have also issued research reports about the company. Morgan Stanley raised e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $114.00 to $134.00 in a report on Monday, August 11th. Canaccord Genuity Group set a $165.00 target price on e.l.f. Beauty in a report on Tuesday. Piper Sandler started coverage on e.l.f. Beauty in a report on Thursday, September 4th. They issued an "overweight" rating and a $150.00 target price on the stock. Truist Financial increased their price objective on e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $155.00 price objective (up previously from $140.00) on shares of e.l.f. Beauty in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $132.88.

e.l.f. Beauty Stock Up 1.1%

e.l.f. Beauty stock opened at $139.56 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.34 and a current ratio of 3.26. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 82.09, a price-to-earnings-growth ratio of 3.34 and a beta of 1.59. e.l.f. Beauty has a fifty-two week low of $49.40 and a fifty-two week high of $147.33. The stock's fifty day moving average is $119.43 and its two-hundred day moving average is $93.71.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The company had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.e.l.f. Beauty's revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 earnings per share. Analysts predict that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lauren Cooks Levitan sold 4,630 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $118.94, for a total transaction of $550,692.20. Following the transaction, the director directly owned 11,507 shares in the company, valued at approximately $1,368,642.58. This represents a 28.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.90% of the company's stock.

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

Large investors have recently added to or reduced their stakes in the business. Aurora Investment Counsel purchased a new position in e.l.f. Beauty during the first quarter worth about $294,000. Caas Capital Management LP lifted its position in e.l.f. Beauty by 1,466.7% during the first quarter. Caas Capital Management LP now owns 4,700 shares of the company's stock worth $295,000 after buying an additional 4,400 shares during the period. Harbor Capital Advisors Inc. lifted its position in e.l.f. Beauty by 42.0% during the first quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company's stock worth $6,482,000 after buying an additional 30,530 shares during the period. Vontobel Holding Ltd. lifted its position in e.l.f. Beauty by 165.6% during the first quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company's stock worth $953,000 after buying an additional 9,466 shares during the period. Finally, Generate Investment Management Ltd purchased a new position in e.l.f. Beauty during the first quarter worth about $21,650,000. 92.44% of the stock is currently owned by hedge funds and other 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.

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