DA Davidson Reiterates “Buy” Rating for e.l.f. Beauty (NYSE:ELF)

DA Davidson reiterated their buy rating on shares of e.l.f. Beauty (NYSE:ELF) in a report released on Monday morning,Benzinga reports. DA Davidson currently has a $170.00 price objective on the stock.

Several other equities analysts have also recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price objective (up previously from $162.00) on shares of e.l.f. Beauty in a research note on Thursday, November 7th. Stifel Nicolaus dropped their price target on e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. TD Cowen cut their price objective on e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Canaccord Genuity Group cut their target price on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their price target on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, e.l.f. Beauty has a consensus rating of “Moderate Buy” and an average price target of $173.53.

e.l.f. Beauty Price Performance

Shares of NYSE:ELF opened at $129.98 on Monday. The stock’s 50 day moving average price is $112.58 and its 200 day moving average price is $152.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 70.26, a PEG ratio of 2.77 and a beta of 1.44. 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 data on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The company had revenue of $301.10 million for the quarter, compared to the consensus estimate of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The company’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. Equities research analysts anticipate that e.l.f. Beauty will post 2.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the transaction, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is currently owned by corporate insiders.

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

Hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in e.l.f. Beauty during the third quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at about $26,000. Matrix Trust Co bought a new stake in shares of e.l.f. Beauty in the 2nd quarter valued at approximately $27,000. Innealta Capital LLC bought a new stake in e.l.f. Beauty in the second quarter worth approximately $30,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in e.l.f. Beauty by 405.9% during the second 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. 92.44% of the stock is owned by institutional investors and hedge funds.

e.l.f. Beauty Company Profile

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.