Stifel Nicolaus Issues Pessimistic Forecast for Elanco Animal Health (NYSE:ELAN) Stock Price

Elanco Animal Health (NYSE:ELAN) had its price objective reduced by equities researchers at Stifel Nicolaus from $20.00 to $18.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 52.03% from the company’s current price.

A number of other brokerages also recently issued reports on ELAN. UBS Group started coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Barclays lifted their price objective on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley cut Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $17.00 to $15.00 in a research note on Thursday, September 19th. Leerink Partners initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price on the stock. Finally, Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.43.

Elanco Animal Health Price Performance

Shares of ELAN traded down $0.08 during mid-day trading on Tuesday, hitting $11.84. 748,455 shares of the company traded hands, compared to its average volume of 3,501,568. Elanco Animal Health has a one year low of $11.40 and a one year high of $18.80. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $12.75 and a 200 day moving average of $13.61. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 2.03 and a beta of 1.41.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company earned $0.18 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts expect that Elanco Animal Health will post 0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elanco Animal Health

A number of large investors have recently modified their holdings of ELAN. Commerce Bank boosted its stake in Elanco Animal Health by 2.2% in the 3rd quarter. Commerce Bank now owns 35,114 shares of the company’s stock worth $516,000 after purchasing an additional 741 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in shares of Elanco Animal Health by 9.4% in the second quarter. HBK Sorce Advisory LLC now owns 12,920 shares of the company’s stock worth $186,000 after buying an additional 1,107 shares during the last quarter. Keene & Associates Inc. lifted its stake in shares of Elanco Animal Health by 5.7% during the third quarter. Keene & Associates Inc. now owns 22,945 shares of the company’s stock worth $337,000 after buying an additional 1,240 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Elanco Animal Health by 337.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock valued at $26,000 after buying an additional 1,361 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of Elanco Animal Health by 5.9% in the 3rd quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock valued at $388,000 after acquiring an additional 1,464 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.