e.l.f. Beauty (NYSE:ELF) Trading 1.6% Higher Following Analyst Upgrade

e.l.f. Beauty, Inc. (NYSE:ELF - Get Free Report) shares rose 1.6% during trading on Wednesday after Piper Sandler raised their price target on the stock from $225.00 to $228.00. Piper Sandler currently has an overweight rating on the stock. e.l.f. Beauty traded as high as $173.22 and last traded at $172.94. Approximately 295,607 shares were traded during trading, a decline of 81% from the average daily volume of 1,538,188 shares. The stock had previously closed at $170.15.

Other research analysts also recently issued research reports about the stock. Morgan Stanley increased their price objective on shares of e.l.f. Beauty from $168.00 to $184.00 and gave the company an "equal weight" rating in a report on Wednesday, February 7th. Bank of America increased their price target on shares of e.l.f. Beauty from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Stifel Nicolaus increased their price target on shares of e.l.f. Beauty from $141.00 to $167.00 and gave the company a "hold" rating in a report on Wednesday, February 7th. StockNews.com downgraded shares of e.l.f. Beauty from a "hold" rating to a "sell" rating in a research note on Wednesday, February 7th. Finally, TD Cowen raised their price objective on shares of e.l.f. Beauty from $185.00 to $220.00 and gave the stock a "market perform" rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $186.83.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,519 shares of e.l.f. Beauty stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total transaction of $4,677,693.91. Following the transaction, the chief executive officer now directly owns 10,889 shares of the company's stock, valued at $2,165,713.21. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.20% of the stock is currently owned by corporate insiders.

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

Several institutional investors have recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in e.l.f. Beauty in the first quarter valued at approximately $40,000. GAMMA Investing LLC boosted its stake in e.l.f. Beauty by 33.2% in the first quarter. GAMMA Investing LLC now owns 353 shares of the company's stock valued at $69,000 after acquiring an additional 88 shares in the last quarter. Vanguard Group Inc. boosted its stake in e.l.f. Beauty by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,050,649 shares of the company's stock valued at $873,351,000 after acquiring an additional 79,701 shares in the last quarter. Wellington Management Group LLP boosted its stake in e.l.f. Beauty by 5.2% in the fourth quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company's stock valued at $366,744,000 after acquiring an additional 126,231 shares in the last quarter. Finally, Guidance Capital Inc. boosted its stake in e.l.f. Beauty by 1.6% in the fourth quarter. Guidance Capital Inc. now owns 3,510 shares of the company's stock valued at $490,000 after acquiring an additional 56 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

e.l.f. Beauty Stock Down 1.8 %

The company's 50 day moving average price is $186.85 and its 200 day moving average price is $146.35. The company has a quick ratio of 0.83, a current ratio of 1.50 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 73.98, a P/E/G ratio of 1.54 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The business had revenue of $270.94 million during the quarter, compared to the consensus estimate of $239.66 million. e.l.f. Beauty had a net margin of 14.53% and a return on equity of 28.98%. As a group, research analysts forecast that e.l.f. Beauty, Inc. will post 2.49 earnings per share for the current fiscal year.

e.l.f. Beauty Company Profile

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.