e.l.f. Beauty (NYSE:ELF) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded e.l.f. Beauty from “hold” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $90.81.
• The company reported strong quarterly results, with earnings per share of $1.75 versus the $0.71 consensus estimate and revenue of $479.37 million, up 35.5% year over year.
• ELF shares opened at $92.08, near the analyst consensus target, while insiders have sold 134,028 shares worth approximately $9.4 million over the past 90 days.

e.l.f. Beauty (NYSE:ELF - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

ELF has been the subject of a number of other research reports. Jefferies Financial Group raised their target price on shares of e.l.f. Beauty from $72.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Morgan Stanley lowered their price target on shares of e.l.f. Beauty from $67.00 to $59.00 and set an "equal weight" rating on the stock in a report on Thursday, May 21st. Robert W. Baird set a $105.00 price target on shares of e.l.f. Beauty in a report on Thursday, August 6th. Piper Sandler raised their price objective on shares of e.l.f. Beauty from $50.00 to $65.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group boosted their price objective on e.l.f. Beauty from $90.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.81.

e.l.f. Beauty Price Performance

NYSE:ELF opened at $92.08 on Wednesday. e.l.f. Beauty has a 12-month low of $48.82 and a 12-month high of $150.99. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 92.08, a P/E/G ratio of 3.11 and a beta of 1.58. The stock's 50 day moving average price is $74.70 and its two-hundred day moving average price is $71.66. The company has a quick ratio of 1.82, a current ratio of 2.55 and a debt-to-equity ratio of 0.69.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $1.04. e.l.f. Beauty had a return on equity of 14.07% and a net margin of 3.38%.The business had revenue of $479.37 million for the quarter, compared to analysts' expectations of $431.20 million. During the same quarter in the prior year, the business earned $0.89 EPS. The firm's revenue for the quarter was up 35.5% on a year-over-year basis. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. On average, analysts anticipate that e.l.f. Beauty will post 2.45 earnings per share for the current year.

Insider Buying and Selling

In other e.l.f. Beauty news, insider Kory Marchisotto sold 12,173 shares of e.l.f. Beauty stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $88.02, for a total value of $1,071,467.46. Following the completion of the sale, the insider owned 169,695 shares in the company, valued at $14,936,553.90. The trade was a 6.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Catherine Hartnett sold 25,357 shares of e.l.f. Beauty stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $80.00, for a total transaction of $2,028,560.00. Following the completion of the sale, the insider owned 28,699 shares of the company's stock, valued at $2,295,920. This trade represents a 46.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 134,028 shares of company stock valued at $9,422,961 in the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of e.l.f. Beauty in the fourth quarter valued at approximately $26,000. Hilton Head Capital Partners LLC acquired a new stake in e.l.f. Beauty during the fourth quarter worth approximately $32,000. EverSource Wealth Advisors LLC increased its stake in e.l.f. Beauty by 97.0% during 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 during the period. Northwestern Mutual Wealth Management Co. increased its stake in e.l.f. Beauty by 58.5% during 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 during the period. Finally, State of Wyoming acquired a new position in e.l.f. Beauty in the 2nd quarter valued at $40,000. 92.44% of the stock is owned by institutional investors.

e.l.f. Beauty Company Profile

e.l.f. Beauty NYSE: ELF is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company's portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.

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