e.l.f. Beauty (NYSE:ELF) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America has raised its price target for e.l.f. Beauty from $135.00 to $160.00, indicating a potential upside of 6.64% from the stock's current price and maintaining a "buy" rating.
• e.l.f. Beauty's stock has seen a 4.7% increase recently, with an average price target consensus of $133.40 among analysts.
• Insider selling activity includes a significant transaction where insider Mandy J. Fields sold 55,692 shares, reducing her stake in the company by 46.47%.

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price target increased by equities research analysts at Bank of America from $135.00 to $160.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price target indicates a potential upside of 8.95% from the company's previous close.

Several other equities research analysts have also weighed in on the company. B. Riley increased their target price on e.l.f. Beauty from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Morgan Stanley raised e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $114.00 to $134.00 in a research note on Monday, August 11th. Deutsche Bank Aktiengesellschaft cut e.l.f. Beauty from a "buy" rating to a "hold" rating and increased their price target for the stock from $121.00 to $128.00 in a research note on Tuesday, September 2nd. Canaccord Genuity Group set a $165.00 price target on e.l.f. Beauty in a research note on Tuesday, September 9th. Finally, Truist Financial increased their price target on e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $133.40.

e.l.f. Beauty Stock Up 0.5%

Shares of e.l.f. Beauty stock traded up $0.75 on Wednesday, hitting $146.86. 1,729,810 shares of the company's stock traded hands, compared to its average volume of 1,735,818. The stock has a market cap of $8.71 billion, a P/E ratio of 86.39, a PEG ratio of 3.55 and a beta of 1.59. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average is $121.92 and its 200 day moving average is $96.96. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $150.99.

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

Insider Buying and Selling at e.l.f. Beauty

In related news, insider Mandy J. Fields sold 55,692 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $136.28, for a total value of $7,589,705.76. Following the completion of the transaction, the insider owned 64,154 shares in the company, valued at $8,742,907.12. This trade represents a 46.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kory Marchisotto sold 13,515 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $140.10, for a total value of $1,893,451.50. Following the completion of the transaction, the insider owned 144,788 shares of the company's stock, valued at $20,284,798.80. This trade represents a 8.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,933 shares of company stock valued at $23,991,438. Corporate insiders own 3.90% of the company's stock.

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

A number of hedge funds and other institutional investors have recently modified their holdings of ELF. Orion Capital Management LLC acquired a new position in shares of e.l.f. Beauty in the 4th quarter valued at $30,000. EverSource Wealth Advisors LLC lifted its stake in e.l.f. Beauty by 97.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company's stock worth $32,000 after acquiring an additional 128 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in e.l.f. Beauty in the 1st quarter worth about $33,000. Northwestern Mutual Wealth Management Co. lifted its stake in e.l.f. Beauty by 58.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company's stock worth $39,000 after acquiring an additional 117 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in e.l.f. Beauty by 56.5% in the 1st quarter. Larson Financial Group LLC now owns 676 shares of the company's stock worth $42,000 after acquiring an additional 244 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, 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.