e.l.f. Beauty (NYSE:ELF) Rating Increased to Overweight at Morgan Stanley

e.l.f. Beauty (NYSE:ELF) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm currently has a $153.00 target price on the stock, up from their previous target price of $139.00. Morgan Stanley’s target price would indicate a potential upside of 21.93% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial boosted their target price on shares of e.l.f. Beauty from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Jefferies Financial Group reduced 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 research report on Wednesday, October 30th. Robert W. Baird reduced their price target on shares of e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. reduced their price target on shares of e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Bank of America reduced their price target on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, e.l.f. Beauty presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.76.

e.l.f. Beauty Trading Down 1.7 %

NYSE:ELF opened at $125.48 on Monday. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $7.07 billion, a PE ratio of 67.83, a price-to-earnings-growth ratio of 3.08 and a beta of 1.50. The firm’s 50 day moving average is $127.21 and its 200 day moving average is $139.19. e.l.f. Beauty has a 12 month low of $98.50 and a 12 month high of $221.83.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.77 EPS 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 19.34%. The company had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $289.43 million. During the same quarter in the previous year, the firm posted $0.66 EPS. e.l.f. Beauty’s revenue was up 39.7% on a year-over-year basis. Sell-side analysts expect that e.l.f. Beauty will post 2.8 earnings per share for the current year.

Insiders Place Their Bets

In other e.l.f. Beauty news, Director Maureen C. Watson sold 785 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $130.00, for a total transaction of $102,050.00. Following the transaction, the director now owns 1,888 shares in the company, valued at approximately $245,440. This represents a 29.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tarang Amin sold 890 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $137.60, for a total value of $122,464.00. Following the transaction, the chief executive officer now owns 99,699 shares in the company, valued at $13,718,582.40. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,205 shares of company stock valued at $297,442 over the last three months. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Evergreen Capital Management LLC grew its holdings in shares of e.l.f. Beauty by 2.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company’s stock worth $1,007,000 after acquiring an additional 99 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of e.l.f. Beauty in the 2nd quarter worth approximately $26,000. Cetera Trust Company N.A boosted its position in shares of e.l.f. Beauty by 14.4% in the 3rd quarter. Cetera Trust Company N.A now owns 1,030 shares of the company’s stock worth $112,000 after purchasing an additional 130 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of e.l.f. Beauty by 1.7% in the 3rd quarter. Fulton Bank N.A. now owns 8,222 shares of the company’s stock worth $896,000 after purchasing an additional 139 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in e.l.f. Beauty by 6.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,609 shares of the company’s stock valued at $284,000 after acquiring an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.