Estee Lauder Companies (NYSE:EL) Trading Down 6% - Here's What Happened

Key Points

• Estee Lauder Companies' stock experienced a significant decline of 6% during mid-day trading, reaching a low of $89.92 before closing at $89.57, with trading volume down 88% from the average.
• Analysts have varied opinions on the stock, with B. Riley downgrading its price target to $60 but others like HSBC upgrading it to $99, indicating mixed sentiments among brokerages.
• Institutional investors currently hold 55.15% of Estee Lauder's stock, showing significant interest and investment activity in the company despite recent stock performance.

The Estee Lauder Companies Inc. (NYSE:EL - Get Free Report)'s stock price fell 6% during trading on Thursday . The company traded as low as $89.92 and last traded at $89.57. 488,089 shares were traded during trading, a decline of 88% from the average session volume of 4,088,579 shares. The stock had previously closed at $95.26.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EL. Wells Fargo & Company increased their price objective on Estee Lauder Companies from $60.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Wall Street Zen raised shares of Estee Lauder Companies from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Barclays upped their price target on Estee Lauder Companies from $63.00 to $84.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada reduced their price objective on Estee Lauder Companies from $100.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Hsbc Global Res raised Estee Lauder Companies from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $86.95.

Estee Lauder Companies Stock Up 1.0%

The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $33.05 billion, a P/E ratio of -38.03, a PEG ratio of 6.49 and a beta of 1.18. The firm has a 50-day moving average price of $84.79 and a two-hundred day moving average price of $71.79.

Hedge Funds Weigh In On Estee Lauder Companies

Large investors have recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC acquired a new stake in Estee Lauder Companies during the second quarter valued at approximately $49,000. Rexford Capital Inc. acquired a new stake in Estee Lauder Companies during the second quarter valued at approximately $208,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Estee Lauder Companies by 2.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 546,192 shares of the company's stock worth $44,214,000 after acquiring an additional 14,928 shares in the last quarter. Manhattan West Asset Management LLC grew its position in Estee Lauder Companies by 50.4% during the 2nd quarter. Manhattan West Asset Management LLC now owns 8,116 shares of the company's stock worth $656,000 after acquiring an additional 2,721 shares during the last quarter. Finally, Vident Advisory LLC grew its position in Estee Lauder Companies by 28.6% during the 2nd quarter. Vident Advisory LLC now owns 5,816 shares of the company's stock worth $470,000 after acquiring an additional 1,292 shares during the last quarter. Institutional investors and hedge funds own 55.15% of the company's stock.

About Estee Lauder Companies

The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, and powders, as well as compacts, brushes, and other makeup tools.