e.l.f. Beauty (NYSE:ELF) Price Target Raised to $118.00

by · The Cerbat Gem

e.l.f. Beauty (NYSE:ELF – Get Free Report) had its price objective upped by equities researchers at Bank of America from $100.00 to $118.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 22.13% from the stock’s previous close.

Several other brokerages have also issued reports on ELF. UBS Group boosted their target price on e.l.f. Beauty from $80.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Piper Sandler raised their price target on e.l.f. Beauty from $50.00 to $65.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. TD Cowen boosted their price objective on e.l.f. Beauty from $85.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 10th. The Goldman Sachs Group set a $100.00 price objective on e.l.f. Beauty in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. reduced their target price on e.l.f. Beauty from $111.00 to $106.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.81.

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e.l.f. Beauty Trading Down 0.1%

Shares of ELF traded down $0.14 during midday trading on Tuesday, hitting $96.62. The stock had a trading volume of 590,552 shares, compared to its average volume of 2,700,192. e.l.f. Beauty has a 1 year low of $48.82 and a 1 year high of $150.99. The firm has a market cap of $5.70 billion, a PE ratio of 96.67, a price-to-earnings-growth ratio of 3.01 and a beta of 1.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.55 and a quick ratio of 1.82. The stock’s 50 day moving average is $91.04 and its 200 day moving average is $74.45.

e.l.f. Beauty (NYSE:ELF – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $1.04. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. The firm had revenue of $479.37 million during the quarter, compared to analyst estimates of $431.20 million. During the same quarter last year, the business earned $0.89 EPS. The business’s revenue was up 35.5% on a year-over-year basis. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. As a group, analysts forecast that e.l.f. Beauty will post 2.64 EPS for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In related news, CEO Tarang Amin sold 50,164 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $78.24, for a total value of $3,924,831.36. Following the completion of the transaction, the chief executive officer owned 110,496 shares of the company’s stock, valued at $8,645,207.04. The trade was a 31.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Levitan sold 1,034 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $93.15, for a total value of $96,317.10. Following the sale, the director owned 10,516 shares of the company’s stock, valued at approximately $979,565.40. This represents a 8.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 116,223 shares of company stock worth $10,000,410. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On e.l.f. Beauty

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in shares of e.l.f. Beauty by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,120 shares of the company’s stock worth $3,043,000 after acquiring an additional 653 shares in the last quarter. Engineers Gate Manager LP purchased a new position in e.l.f. Beauty in the second quarter worth $429,000. Integrated Wealth Concepts LLC purchased a new position in e.l.f. Beauty in the second quarter worth $56,000. Nykredit A S acquired a new position in shares of e.l.f. Beauty during the second quarter worth $91,000. Finally, TD Waterhouse Canada Inc. increased its position in shares of e.l.f. Beauty by 31.8% during the second quarter. TD Waterhouse Canada Inc. now owns 1,779 shares of the company’s stock worth $140,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

About e.l.f. Beauty

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e.l.f. Beauty, Inc develops, markets and sells cosmetics, skin care and beauty products. Its portfolio includes e.l.f. Cosmetics, which offers makeup, skin care, tools and accessories, as well as brands such as Naturium, W3LL PEOPLE and Keys Soulcare. The company positions its products as accessible and affordable alternatives across a range of beauty categories.

Founded in 2004, e.l.f. Beauty distributes its products through mass retailers, specialty beauty stores, direct-to-consumer websites and other digital channels.

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