Bank of America Issues Positive Forecast for e.l.f. Beauty (NYSE:ELF) Stock Price

e.l.f. Beauty (NYSE:ELF) had its target price boosted by Bank of America from $113.00 to $135.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently weighed in on ELF. UBS Group upped their target price on e.l.f. Beauty from $59.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, May 21st. Canaccord Genuity Group set a $114.00 price objective on e.l.f. Beauty in a research report on Thursday, May 29th. Morgan Stanley upped their price objective on e.l.f. Beauty from $70.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 29th. B. Riley restated a “buy” rating and set a $150.00 price objective (up from $110.00) on shares of e.l.f. Beauty in a research report on Friday, June 13th. Finally, Piper Sandler restated an “overweight” rating and set a $109.00 price objective (up from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.88.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $120.08 on Friday. The stock has a fifty day moving average price of $85.92 and a 200-day moving average price of $91.40. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 62.22, a PEG ratio of 2.71 and a beta of 1.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 3.05. e.l.f. Beauty has a fifty-two week low of $49.40 and a fifty-two week high of $219.77.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $332.65 million during the quarter, compared to the consensus estimate of $327.45 million. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. As a group, equities analysts anticipate that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Scott Milsten sold 1,442 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $114.78, for a total value of $165,512.76. Following the completion of the sale, the insider now owns 117,394 shares of the company’s stock, valued at approximately $13,474,483.32. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Joshua Allen Franks sold 51,353 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $53.36, for a total value of $2,740,196.08. Following the completion of the sale, the senior vice president now directly owns 114,660 shares of the company’s stock, valued at approximately $6,118,257.60. The trade was a 30.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,207 shares of company stock valued at $25,252,926 in the last 90 days. Corporate insiders own 3.50% of the company’s stock.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nemes Rush Group LLC acquired a new stake in shares of e.l.f. Beauty in the fourth quarter valued at about $27,000. Orion Capital Management LLC acquired a new stake in shares of e.l.f. Beauty in the fourth quarter valued at about $30,000. Promus Capital LLC acquired a new stake in shares of e.l.f. Beauty in the fourth quarter valued at about $31,000. Kestra Investment Management LLC acquired a new stake in shares of e.l.f. Beauty in the fourth quarter valued at about $32,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of e.l.f. Beauty in the first quarter valued at about $33,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.