e.l.f. Beauty (NYSE:ELF) Price Target Cut to $130.00

e.l.f. Beauty (NYSE:ELF) had its price target dropped by investment analysts at Truist Financial from $210.00 to $130.00 in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 20.48% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity Group boosted their price target on e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Canaccord Genuity Group boosted their price objective on e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Robert W. Baird increased their price objective on shares of e.l.f. Beauty from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Stifel Nicolaus upped their target price on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Finally, Morgan Stanley lowered their target price on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, e.l.f. Beauty has an average rating of “Moderate Buy” and a consensus target price of $191.21.

e.l.f. Beauty Stock Performance

Shares of ELF opened at $107.90 on Wednesday. The company has a 50-day moving average of $127.74 and a two-hundred day moving average of $162.40. The stock has a market cap of $6.04 billion, a P/E ratio of 48.60, a PEG ratio of 2.19 and a beta of 1.43. e.l.f. Beauty has a 12-month low of $88.47 and a 12-month high of $221.83. The company has a current ratio of 1.77, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Thursday, August 8th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. e.l.f. Beauty had a return on equity of 23.30% and a net margin of 10.80%. The firm had revenue of $324.48 million for the quarter, compared to analysts’ expectations of $303.60 million. As a group, research analysts predict that e.l.f. Beauty will post 2.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the transaction, the chief executive officer now directly owns 106,016 shares in the company, valued at approximately $14,465,883.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.20% of the company’s stock.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC acquired a new position in shares of e.l.f. Beauty in the 2nd quarter worth approximately $26,000. Matrix Trust Co acquired a new position in e.l.f. Beauty in the second quarter valued at about $27,000. Innealta Capital LLC acquired a new position in shares of e.l.f. Beauty during the 2nd quarter worth about $30,000. Harbor Investment Advisory LLC bought a new stake in e.l.f. Beauty in the first quarter valued at approximately $31,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in e.l.f. Beauty by 405.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock valued at $36,000 after acquiring an additional 138 shares during the period. 92.44% of the stock is owned by institutional investors.

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.