Brokerages Set e.l.f. Beauty (NYSE:ELF) Price Target at $123.81

Key Points

• e.l.f. Beauty has received an average recommendation of “Moderate Buy” from analysts, with twelve out of sixteen rating the stock as a buy.
• Jefferies Financial Group set a price target of $115.00 for the stock, while Morgan Stanley upgraded their price target to $134.00.
• Insiders have sold a total of 112,836 shares of the company's stock in the past ninety days, decreasing their positions significantly.

Shares of e.l.f. Beauty (NYSE:ELF - Get Free Report) have been given an average recommendation of "Moderate Buy" by the sixteen research firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $124.25.

ELF has been the subject of a number of research reports. Morgan Stanley upgraded e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $114.00 to $134.00 in a report on Monday, August 11th. Piper Sandler reiterated an "overweight" rating and set a $109.00 target price (up previously from $81.00) on shares of e.l.f. Beauty in a report on Thursday, May 29th. Robert W. Baird boosted their target price on e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. B. Riley reiterated a "buy" rating and set a $150.00 target price (up previously from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. Finally, Jefferies Financial Group set a $115.00 target price on e.l.f. Beauty and gave the stock a "buy" rating in a report on Thursday, May 29th.

e.l.f. Beauty Trading Up 0.4%

NYSE:ELF traded up $0.51 during mid-day trading on Monday, reaching $125.51. The company's stock had a trading volume of 1,985,336 shares, compared to its average volume of 2,510,552. The company's fifty day simple moving average is $118.48 and its two-hundred day simple moving average is $91.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $147.45. The stock has a market cap of $7.45 billion, a P/E ratio of 57.34, a P/E/G ratio of 3.08 and a beta of 1.59.

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

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

In other e.l.f. Beauty news, CEO Tarang Amin sold 2,405 shares of e.l.f. Beauty stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $117.61, for a total transaction of $282,852.05. Following the sale, the chief executive officer directly owned 186,586 shares in the company, valued at $21,944,379.46. The trade was a 1.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joshua Allen Franks sold 1,496 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $117.61, for a total value of $175,944.56. Following the completion of the transaction, the senior vice president directly owned 120,471 shares in the company, valued at approximately $14,168,594.31. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,961 shares of company stock worth $12,631,070. Insiders own 3.90% of the company's stock.

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

Several institutional investors and hedge funds have recently made changes to their positions in ELF. Marshall Wace LLP acquired a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at approximately $118,058,000. Atreides Management LP acquired a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at approximately $61,479,000. Champlain Investment Partners LLC raised its position in shares of e.l.f. Beauty by 19.7% during the 1st quarter. Champlain Investment Partners LLC now owns 2,665,026 shares of the company's stock valued at $167,337,000 after acquiring an additional 438,575 shares in the last quarter. Man Group plc acquired a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at approximately $52,316,000. Finally, Prime Capital Management Co Ltd raised its position in shares of e.l.f. Beauty by 167.8% during the 1st quarter. Prime Capital Management Co Ltd now owns 604,535 shares of the company's stock valued at $37,959,000 after acquiring an additional 378,826 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

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.