e.l.f. Beauty (NYSE:ELF) Reaches New 52-Week High After Analyst Upgrade

e.l.f. Beauty, Inc. (NYSE:ELF – Get Rating)’s share price hit a new 52-week high during mid-day trading on Thursday after Stifel Nicolaus raised their price target on the stock from $83.00 to $87.00. The stock traded as high as $99.32 and last traded at $96.81, with a volume of 851056 shares changing hands. The stock had previously closed at $86.45.

Other research analysts have also recently issued research reports about the stock. Raymond James upped their target price on shares of e.l.f. Beauty from $80.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, April 20th. Truist Financial increased their price target on shares of e.l.f. Beauty from $100.00 to $110.00 in a research note on Thursday. Bank of America increased their price target on shares of e.l.f. Beauty from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Morgan Stanley increased their price target on shares of e.l.f. Beauty from $94.00 to $110.00 in a research note on Thursday. Finally, DA Davidson increased their price target on shares of e.l.f. Beauty from $91.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

Insider Activity

In other news, CEO Tarang Amin sold 30,569 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $72.84, for a total value of $2,226,645.96. Following the completion of the transaction, the chief executive officer now owns 316,927 shares in the company, valued at approximately $23,084,962.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Mandy J. Fields sold 20,940 shares of the stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $94.77, for a total value of $1,984,483.80. Following the completion of the transaction, the insider now owns 121,786 shares in the company, valued at approximately $11,541,659.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tarang Amin sold 30,569 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $72.84, for a total transaction of $2,226,645.96. Following the completion of the sale, the chief executive officer now directly owns 316,927 shares in the company, valued at $23,084,962.68. The disclosure for this sale can be found here. Insiders sold 252,162 shares of company stock worth $19,624,844 in the last 90 days. 8.20% of the stock is currently owned by corporate insiders.

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

A number of large investors have recently added to or reduced their stakes in ELF. Dark Forest Capital Management LP acquired a new stake in e.l.f. Beauty in the 1st quarter valued at about $27,000. Point72 Middle East FZE acquired a new stake in e.l.f. Beauty in the 4th quarter valued at about $28,000. CWM LLC grew its stake in e.l.f. Beauty by 89.7% in the 1st quarter. CWM LLC now owns 385 shares of the company’s stock valued at $32,000 after acquiring an additional 182 shares during the last quarter. Covestor Ltd grew its stake in e.l.f. Beauty by 8,340.0% in the 1st quarter. Covestor Ltd now owns 1,266 shares of the company’s stock valued at $33,000 after acquiring an additional 1,251 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in e.l.f. Beauty in the 4th quarter valued at about $46,000. 95.14% of the stock is owned by institutional investors and hedge funds.

e.l.f. Beauty Stock Performance

The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 122.53, a PEG ratio of 2.09 and a beta of 1.50. The stock’s 50 day moving average is $86.72 and its 200 day moving average is $69.50. The company has a current ratio of 3.00, a quick ratio of 2.08 and a debt-to-equity ratio of 0.16.

e.l.f. Beauty Company Profile

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e.l.f. Beauty, Inc operates as a holding company, which engages in the provision of cosmetic 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. The company was founded in 2004 and is headquartered in Oakland, CA.