e.l.f. Beauty (NYSE:ELF) Upgraded to Buy by TD Cowen

TD Cowen upgraded shares of e.l.f. Beauty (NYSE:ELF) from a hold rating to a buy rating in a report published on Wednesday morning, Marketbeat.com reports. The brokerage currently has $190.00 target price on the stock, down from their prior target price of $220.00.

Several other brokerages have also weighed in on ELF. Raymond James increased their price objective on shares of e.l.f. Beauty from $140.00 to $180.00 and gave the company a strong-buy rating in a research report on Monday, January 22nd. Robert W. Baird began coverage on shares of e.l.f. Beauty in a research report on Tuesday, January 30th. They issued a neutral rating and a $185.00 price objective on the stock. Bank of America upped their price target on shares of e.l.f. Beauty from $200.00 to $230.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Piper Sandler upped their price target on shares of e.l.f. Beauty from $225.00 to $228.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Finally, Truist Financial upped their price target on shares of e.l.f. Beauty from $150.00 to $200.00 and gave the company a buy rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $184.33.

e.l.f. Beauty Stock Performance

NYSE ELF opened at $166.26 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $186.70 and its two-hundred day moving average price is $148.43. e.l.f. Beauty has a 1 year low of $83.80 and a 1 year high of $221.83. The firm has a market capitalization of $9.23 billion, a P/E ratio of 73.57, a price-to-earnings-growth ratio of 1.52 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. The company had revenue of $270.94 million for the quarter, compared to analyst estimates of $239.66 million. e.l.f. Beauty had a net margin of 14.53% and a return on equity of 28.98%. As a group, research analysts anticipate that e.l.f. Beauty will post 2.5 EPS for the current year.

Insider Activity

In other news, CEO Tarang Amin sold 23,519 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total value of $4,677,693.91. Following the sale, the chief executive officer now directly owns 10,889 shares in the company, valued at approximately $2,165,713.21. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Tarang Amin sold 23,519 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total value of $4,677,693.91. Following the sale, the chief executive officer now directly owns 10,889 shares in the company, valued at approximately $2,165,713.21. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Joshua Allen Franks sold 727 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $165.16, for a total transaction of $120,071.32. Following the completion of the sale, the senior vice president now owns 83,736 shares in the company, valued at $13,829,837.76. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC bought a new position in e.l.f. Beauty in the 1st quarter valued at approximately $31,000. Armstrong Advisory Group Inc. raised its holdings in e.l.f. Beauty by 390.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock worth $29,000 after purchasing an additional 160 shares during the last quarter. Rise Advisors LLC bought a new position in e.l.f. Beauty during the 1st quarter worth approximately $40,000. GPS Wealth Strategies Group LLC raised its holdings in e.l.f. Beauty by 66.4% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 243 shares of the company’s stock worth $35,000 after purchasing an additional 97 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in e.l.f. Beauty during the 4th quarter worth approximately $42,000. Institutional investors own 92.44% of the company’s stock.

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.