e.l.f. Beauty (NYSE:ELF) Trading Down 6.9% – Should You Sell?

e.l.f. Beauty, Inc. (NYSE:ELF)’s share price traded down 6.9% during mid-day trading on Tuesday . The stock traded as low as $70.06 and last traded at $68.95. 547,761 shares changed hands during trading, a decline of 82% from the average session volume of 3,094,019 shares. The stock had previously closed at $74.04.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ELF shares. Piper Sandler reduced their target price on shares of e.l.f. Beauty from $167.00 to $131.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Canaccord Genuity Group decreased their price target on e.l.f. Beauty from $174.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Truist Financial upped their target price on shares of e.l.f. Beauty from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. DA Davidson reaffirmed a “neutral” rating and issued a $80.00 price target on shares of e.l.f. Beauty in a research report on Tuesday, February 18th. Finally, B. Riley reiterated a “buy” rating and set a $90.00 target price (down previously from $150.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.94.

e.l.f. Beauty Trading Down 5.3 %

The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average price is $96.63 and its two-hundred day moving average price is $113.11. The firm has a market cap of $3.95 billion, a PE ratio of 41.44, a P/E/G ratio of 6.76 and a beta of 1.60.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Thursday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. As a group, sell-side analysts forecast that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current fiscal year.

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

A number of large investors have recently made changes to their positions in the stock. Brooklyn FI LLC acquired a new position in e.l.f. Beauty during the fourth quarter worth about $422,000. Mackenzie Financial Corp increased its stake in e.l.f. Beauty by 107.1% in the 4th quarter. Mackenzie Financial Corp now owns 513,647 shares of the company’s stock valued at $64,488,000 after purchasing an additional 265,569 shares in the last quarter. GTS Securities LLC raised its holdings in e.l.f. Beauty by 102.7% during the fourth quarter. GTS Securities LLC now owns 1,806 shares of the company’s stock worth $227,000 after purchasing an additional 68,410 shares during the last quarter. Pinnacle Investment Management Ltd purchased a new stake in e.l.f. Beauty during the fourth quarter worth $1,256,000. Finally, Orion Capital Management LLC acquired a new stake in e.l.f. Beauty in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About e.l.f. Beauty

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.