e.l.f. Beauty (NYSE:ELF) Shares Down 7.3% on Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF)’s share price dropped 7.3% during trading on Tuesday after Truist Financial lowered their price target on the stock from $210.00 to $130.00. Truist Financial currently has a buy rating on the stock. e.l.f. Beauty traded as low as $106.84 and last traded at $107.06. Approximately 1,251,252 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 1,797,294 shares. The stock had previously closed at $115.43.

Several other research firms have also commented on ELF. Raymond James reissued a “strong-buy” rating and set a $235.00 target price on shares of e.l.f. Beauty in a research note on Monday, July 22nd. Stifel Nicolaus raised their price objective on e.l.f. Beauty from $151.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. B. Riley initiated coverage on e.l.f. Beauty in a research report on Tuesday, September 10th. They set a “buy” rating and a $175.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on e.l.f. Beauty from $207.00 to $167.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, Robert W. Baird upped their price objective on shares of e.l.f. Beauty from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, e.l.f. Beauty has an average rating of “Moderate Buy” and a consensus target price of $191.21.

Insider Buying and Selling 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 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 sale, the chief executive officer now owns 106,016 shares of the company’s stock, valued at $14,465,883.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.20% of the company’s stock.

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

Hedge funds have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC acquired a new stake in e.l.f. Beauty in the 2nd quarter worth approximately $26,000. Matrix Trust Co acquired a new stake in e.l.f. Beauty in the 2nd quarter valued at approximately $27,000. Innealta Capital LLC acquired a new position in shares of e.l.f. Beauty during the second quarter worth approximately $30,000. Harbor Investment Advisory LLC bought a new stake in shares of e.l.f. Beauty in the first quarter valued at approximately $31,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of e.l.f. Beauty by 405.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock worth $36,000 after acquiring an additional 138 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

e.l.f. Beauty Price Performance

The firm has a market cap of $5.99 billion, a P/E ratio of 48.24, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43. The stock’s 50-day moving average is $129.34 and its 200-day moving average is $162.78. 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 posted its quarterly earnings data on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.20. The company had revenue of $324.48 million for the quarter, compared to the consensus estimate of $303.60 million. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. As a group, equities analysts anticipate that e.l.f. Beauty, Inc. will post 2.88 EPS for the current fiscal year.

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.