JPMorgan Chase & Co. Cuts e.l.f. Beauty (NYSE:ELF) Price Target to $154.00

e.l.f. Beauty (NYSE:ELF) had its target price cut by JPMorgan Chase & Co. from $167.00 to $154.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the stock. Morgan Stanley dropped their price target on shares of e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. B. Riley started coverage on shares of e.l.f. Beauty in a research note on Tuesday, September 10th. They issued a “buy” rating and a $175.00 target price on the stock. Jefferies Financial Group cut their price target on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. UBS Group decreased their price objective on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Truist Financial cut their target price on shares of e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, e.l.f. Beauty has a consensus rating of “Moderate Buy” and a consensus price target of $173.53.

e.l.f. Beauty Stock Performance

Shares of NYSE:ELF traded up $4.13 during trading on Thursday, hitting $120.20. 3,876,923 shares of the stock were exchanged, compared to its average volume of 2,392,683. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 64.97, a price-to-earnings-growth ratio of 2.17 and a beta of 1.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.77. e.l.f. Beauty has a 1-year low of $92.16 and a 1-year high of $221.83. The company’s fifty day simple moving average is $112.47 and its 200-day simple moving average is $155.89.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.89%. The firm had revenue of $301.10 million for the quarter, compared to the consensus estimate of $289.43 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. The business’s revenue was up 39.7% compared to the same quarter last year. Sell-side analysts expect that e.l.f. Beauty will post 2.88 EPS for the current fiscal year.

Insider Buying and Selling at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the completion of the transaction, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.50% of the company’s stock.

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

Several institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. bought a new stake in e.l.f. Beauty during the 2nd quarter worth approximately $801,693,000. Swedbank AB bought a new stake in shares of e.l.f. Beauty during the third quarter worth $76,321,000. Clearbridge Investments LLC acquired a new stake in shares of e.l.f. Beauty during the first quarter worth $133,940,000. Thrivent Financial for Lutherans lifted its position in e.l.f. Beauty by 223.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 555,287 shares of the company’s stock valued at $60,543,000 after acquiring an additional 383,478 shares in the last quarter. Finally, Primecap Management Co. CA acquired a new position in e.l.f. Beauty in the 3rd quarter worth $34,917,000. Institutional investors own 92.44% of the company’s stock.

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.