Piper Sandler Reiterates Overweight Rating for e.l.f. Beauty (NYSE:ELF)

Piper Sandler restated their overweight rating on shares of e.l.f. Beauty (NYSE:ELF) in a research note released on Thursday morning,Benzinga reports. The firm currently has a $165.00 price objective on the stock, up from their prior price objective of $162.00.

ELF has been the topic of a number of other reports. Truist Financial dropped their target price on shares of e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Jefferies Financial Group cut their price target on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. TD Cowen decreased their price objective on e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Raymond James reaffirmed a “strong-buy” rating and issued a $235.00 target price on shares of e.l.f. Beauty in a report on Monday, July 22nd. Finally, UBS Group dropped 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.53.

e.l.f. Beauty Trading Up 3.6 %

ELF stock traded up $4.13 during mid-day trading on Thursday, hitting $120.20. 3,876,923 shares of the company were exchanged, compared to its average volume of 2,392,683. e.l.f. Beauty has a 12-month low of $92.16 and a 12-month high of $221.83. The firm has a market capitalization of $6.78 billion, a P/E ratio of 64.97, a PEG ratio of 2.17 and a beta of 1.44. The business has a fifty day simple moving average of $112.47 and a 200-day simple moving average of $155.89. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 0.23.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was up 39.7% on a year-over-year basis. On average, equities research analysts predict that e.l.f. Beauty will post 2.88 earnings per share for the current fiscal year.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction dated 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 legal filing with the SEC, which is accessible through this link. 3.50% of the stock is owned by corporate insiders.

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

Several hedge funds have recently bought and sold shares of ELF. Ashton Thomas Private Wealth LLC purchased a new stake in 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 $27,000. Innealta Capital LLC purchased a new position in e.l.f. Beauty during the second quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. boosted its stake in e.l.f. Beauty by 405.9% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock worth $36,000 after buying an additional 138 shares during the last quarter. Finally, Crewe Advisors LLC grew its holdings in e.l.f. Beauty by 456.3% in the 2nd quarter. Crewe Advisors LLC now owns 178 shares of the company’s stock valued at $38,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.