e.l.f. Beauty (NYSE:ELF) Rating Increased to Buy at TD Cowen

e.l.f. Beauty (NYSE:ELF) was upgraded by research analysts at TD Cowen from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has a $190.00 price objective on the stock, down from their prior price objective of $220.00. TD Cowen’s target price would suggest a potential upside of 13.39% from the company’s current price.

Several other research analysts have also weighed in on the company. Robert W. Baird assumed coverage on e.l.f. Beauty in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $185.00 target price on the stock. DA Davidson restated a “buy” rating and set a $220.00 target price on shares of e.l.f. Beauty in a research note on Monday, April 8th. StockNews.com downgraded e.l.f. Beauty from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Morgan Stanley lifted their price target on e.l.f. Beauty from $168.00 to $184.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Piper Sandler lifted their price target on e.l.f. Beauty from $225.00 to $228.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, e.l.f. Beauty has a consensus rating of “Moderate Buy” and an average target price of $184.33.

e.l.f. Beauty Price Performance

Shares of NYSE:ELF opened at $167.57 on Wednesday. The business’s fifty day moving average price is $186.62 and its two-hundred day moving average price is $148.57. The stock has a market cap of $9.30 billion, a PE ratio of 74.15, a price-to-earnings-growth ratio of 1.54 and a beta of 1.57. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 1.50. e.l.f. Beauty has a one year low of $83.80 and a one year high of $221.83.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Tuesday, February 6th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. e.l.f. Beauty had a return on equity of 28.98% and a net margin of 14.53%. The firm had revenue of $270.94 million for the quarter, compared to analysts’ expectations of $239.66 million. On average, analysts forecast that e.l.f. Beauty will post 2.5 EPS for the current fiscal year.

Insider Activity

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

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELF. Wellington Management Group LLP grew its position in e.l.f. Beauty by 235.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,414,601 shares of the company’s stock worth $265,196,000 after purchasing an additional 1,695,585 shares in the last quarter. FMR LLC grew its position in e.l.f. Beauty by 641.2% during the 3rd quarter. FMR LLC now owns 832,404 shares of the company’s stock worth $91,423,000 after purchasing an additional 720,098 shares in the last quarter. Norges Bank purchased a new position in e.l.f. Beauty during the 4th quarter worth approximately $95,611,000. Millennium Management LLC grew its holdings in shares of e.l.f. Beauty by 697.8% during the 4th quarter. Millennium Management LLC now owns 681,739 shares of the company’s stock valued at $37,700,000 after acquiring an additional 596,287 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of e.l.f. Beauty by 58.2% during the 3rd quarter. William Blair Investment Management LLC now owns 1,424,268 shares of the company’s stock valued at $156,427,000 after acquiring an additional 523,903 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.