JPMorgan Chase & Co. Cuts e.l.f. Beauty (NYSE:ELF) Price Target to $70.00

e.l.f. Beauty (NYSE:ELF) had its price objective reduced by JPMorgan Chase & Co. from $127.00 to $70.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

ELF has been the subject of several other research reports. Truist Financial boosted their price objective on shares of e.l.f. Beauty from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group decreased their price target on shares of e.l.f. Beauty from $174.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Stifel Nicolaus dropped their price objective on e.l.f. Beauty from $115.00 to $105.00 and set a “hold” rating for the company in a research note on Monday, February 3rd. The Goldman Sachs Group decreased their target price on e.l.f. Beauty from $142.00 to $124.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, Raymond James dropped their price target on e.l.f. Beauty from $175.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, e.l.f. Beauty presently has a consensus rating of “Moderate Buy” and an average target price of $124.76.

e.l.f. Beauty Price Performance

e.l.f. Beauty stock opened at $53.60 on Friday. The firm has a market capitalization of $3.02 billion, a P/E ratio of 31.71, a PEG ratio of 6.76 and a beta of 1.41. e.l.f. Beauty has a one year low of $49.90 and a one year high of $219.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.17. The business has a fifty day moving average price of $66.75 and a 200-day moving average price of $101.08.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Thursday, February 6th. The company reported $0.41 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, equities research analysts forecast that e.l.f. Beauty will post 2.38 EPS for the current year.

Insider Activity at e.l.f. Beauty

In other news, Director Maureen C. Watson sold 4,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $67.39, for a total value of $269,560.00. Following the completion of the sale, the director now owns 1,888 shares of the company’s stock, valued at approximately $127,232.32. The trade was a 67.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.50% of the stock is owned by insiders.

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

Large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its holdings in shares of e.l.f. Beauty by 37.8% in the third quarter. Integrated Wealth Concepts LLC now owns 2,335 shares of the company’s stock worth $255,000 after purchasing an additional 641 shares during the last quarter. Quantinno Capital Management LP boosted its position in e.l.f. Beauty by 21.8% during the 3rd quarter. Quantinno Capital Management LP now owns 2,318 shares of the company’s stock valued at $253,000 after buying an additional 415 shares during the period. Stifel Financial Corp grew its holdings in e.l.f. Beauty by 57.7% in the 3rd quarter. Stifel Financial Corp now owns 28,244 shares of the company’s stock worth $3,079,000 after acquiring an additional 10,332 shares during the last quarter. State Street Corp increased its position in shares of e.l.f. Beauty by 3.7% in the third quarter. State Street Corp now owns 1,665,203 shares of the company’s stock valued at $181,557,000 after acquiring an additional 59,248 shares during the period. Finally, National Bank of Canada FI bought a new position in shares of e.l.f. Beauty during the third quarter valued at about $174,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.