JPMorgan Chase & Co. Forecasts Strong Price Appreciation for e.l.f. Beauty (NYSE:ELF) Stock

Key Points

• JPMorgan Chase & Co. has raised its price target for e.l.f. Beauty (NYSE:ELF) from $123.00 to $132.00, indicating a potential upside of 9.32% from the current stock price.
• e.l.f. Beauty has received ratings from various analysts, with the consensus rating being a "Moderate Buy" and an average target price of $123.94.
• Insiders of e.l.f. Beauty have sold a significant amount of stock recently, with reported sales aggregating approximately $14.5 million over the last quarter.

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $123.00 to $132.00 in a report released on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 9.32% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group set a $115.00 price target on e.l.f. Beauty and gave the company a "buy" rating in a report on Thursday, May 29th. Morgan Stanley raised their price target on e.l.f. Beauty from $70.00 to $105.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Canaccord Genuity Group raised their price target on e.l.f. Beauty from $114.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Bank of America raised their price target on e.l.f. Beauty from $113.00 to $135.00 and gave the company a "buy" rating in a report on Friday, June 20th. Finally, Robert W. Baird raised their price target on e.l.f. Beauty from $110.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $123.94.

e.l.f. Beauty Price Performance

e.l.f. Beauty stock traded up $1.53 during mid-day trading on Friday, hitting $120.75. 1,354,555 shares of the company were exchanged, compared to its average volume of 2,721,588. The company has a quick ratio of 2.00, a current ratio of 3.05 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average of $112.97 and a 200 day moving average of $89.35. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $190.38. The company has a market capitalization of $6.85 billion, a PE ratio of 62.56, a price-to-earnings-growth ratio of 2.79 and a beta of 1.52.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.06. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. The company had revenue of $332.65 million during the quarter, compared to analyst estimates of $327.45 million. During the same period last year, the company posted $0.53 earnings per share. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Scott Milsten sold 11,860 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total value of $1,370,541.60. Following the transaction, the insider owned 118,836 shares in the company, valued at $13,732,688.16. This trade represents a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joshua Allen Franks sold 11,860 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total value of $1,370,541.60. Following the completion of the transaction, the senior vice president owned 121,967 shares in the company, valued at $14,094,506.52. This represents a 8.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,589 shares of company stock valued at $14,547,949. 3.90% of the stock is currently owned by corporate insiders.

Institutional Trading of e.l.f. Beauty

A number of hedge funds have recently bought and sold shares of the business. Nemes Rush Group LLC purchased a new stake in e.l.f. Beauty in the fourth quarter worth $27,000. Orion Capital Management LLC purchased a new stake in e.l.f. Beauty in the fourth quarter worth $30,000. Golden State Wealth Management LLC purchased a new stake in e.l.f. Beauty in the first quarter worth $33,000. Larson Financial Group LLC increased its position in e.l.f. Beauty by 56.5% in the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock worth $42,000 after buying an additional 244 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in e.l.f. Beauty by 577.7% in the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock worth $49,000 after buying an additional 647 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

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.

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