Bank of America Trims e.l.f. Beauty (NYSE:ELF) Target Price to $220.00

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price target dropped by equities research analysts at Bank of America from $230.00 to $220.00 in a report issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective points to a potential upside of 19.15% from the stock's previous close.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. reduced their price objective on e.l.f. Beauty from $197.00 to $182.00 and set an "overweight" rating for the company in a research note on Thursday. TD Cowen raised shares of e.l.f. Beauty from a "hold" rating to a "buy" rating and cut their target price for the company from $220.00 to $190.00 in a report on Wednesday, April 17th. Stifel Nicolaus dropped their price target on shares of e.l.f. Beauty from $167.00 to $151.00 and set a "hold" rating on the stock in a research report on Monday. Robert W. Baird began coverage on e.l.f. Beauty in a report on Tuesday, January 30th. They issued a "neutral" rating and a $185.00 price target for the company. Finally, DA Davidson reissued a "buy" rating and issued a $220.00 price objective on shares of e.l.f. Beauty in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $183.77.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock traded up $29.01 on Thursday, reaching $184.64. 7,659,801 shares of the stock were exchanged, compared to its average volume of 1,605,054. The company has a quick ratio of 0.83, a current ratio of 1.50 and a debt-to-equity ratio of 0.27. e.l.f. Beauty has a twelve month low of $83.80 and a twelve month high of $221.83. The business has a 50 day moving average price of $173.88 and a two-hundred day moving average price of $159.36. The firm has a market capitalization of $10.25 billion, a price-to-earnings ratio of 82.54, a PEG ratio of 1.49 and a beta of 1.60.

Insiders Place Their Bets

In other news, SVP Joshua Allen Franks sold 727 shares of the business's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $165.16, for a total transaction of $120,071.32. Following the transaction, the senior vice president now owns 83,736 shares of the company's stock, valued at approximately $13,829,837.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Kory Marchisotto sold 29,408 shares of the business's stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $166.40, for a total value of $4,893,491.20. Following the sale, the insider now directly owns 156,969 shares in the company, valued at approximately $26,119,641.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joshua Allen Franks sold 727 shares of the company's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $165.16, for a total transaction of $120,071.32. Following the completion of the transaction, the senior vice president now directly owns 83,736 shares in the company, valued at approximately $13,829,837.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,600 shares of company stock valued at $34,307,124. Insiders own 5.20% of the company's stock.

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

Several large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in e.l.f. Beauty by 235.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,414,601 shares of the company's stock valued at $265,196,000 after acquiring an additional 1,695,585 shares during the period. FMR LLC boosted its stake in shares of e.l.f. Beauty by 641.2% in the third quarter. FMR LLC now owns 832,404 shares of the company's stock valued at $91,423,000 after purchasing an additional 720,098 shares during the period. Clearbridge Investments LLC acquired a new position in shares of e.l.f. Beauty in the first quarter valued at approximately $133,940,000. Norges Bank purchased a new stake in e.l.f. Beauty during the 4th quarter worth approximately $95,611,000. Finally, William Blair Investment Management LLC lifted its holdings in e.l.f. Beauty by 58.2% during the 3rd quarter. William Blair Investment Management LLC now owns 1,424,268 shares of the company's stock worth $156,427,000 after buying an additional 523,903 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

About e.l.f. Beauty

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.