Estee Lauder Companies (NYSE:EL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $147.00 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.24% from the stock’s current price.
According to Zacks, “Estee Lauder has surpassed the industry over a year, gaining from its solid focus on buyouts and product launches; strength in emerging markets and robust online business. Driven by these efforts, Estee Lauder marked its 13th and 3rd straight earnings and sales beat, respectively in first-quarter fiscal 2018, wherein both top and bottom lines grew year over year. Results were aided by contributions from BECCA and Too Faced. Moreover, the company witnessed strength across nearly all regions and product categories, with skin care and China standing out. Growth in travel retail and online channels also remained strong. Management expects continued growth opportunities in the global prestige beauty industry, which encouraged it to raise its outlook. However, soft retail traffic in the United States remains a hurdle. Also, management remains cautious about other economic and political issues that can affect consumer spending.”
Other equities research analysts also recently issued research reports about the stock. Oppenheimer reaffirmed a “buy” rating and set a $120.00 price target (up previously from $110.00) on shares of Estee Lauder Companies in a research note on Wednesday, September 20th. Deutsche Bank began coverage on shares of Estee Lauder Companies in a research note on Wednesday, December 13th. They set a “hold” rating and a $134.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Estee Lauder Companies from $114.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. KeyCorp reaffirmed an “overweight” rating and set a $135.00 price target (up previously from $115.00) on shares of Estee Lauder Companies in a research note on Thursday, November 2nd. They noted that the move was a valuation call. Finally, Citigroup upped their price target on shares of Estee Lauder Companies from $111.00 to $128.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $116.16.
Estee Lauder Companies (NYSE:EL) last released its earnings results on Wednesday, November 1st. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.97 by $0.24. Estee Lauder Companies had a net margin of 11.30% and a return on equity of 33.64%. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. equities analysts expect that Estee Lauder Companies will post 4.17 EPS for the current fiscal year.
In other news, VP Sara E. Moss sold 4,236 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $121.62, for a total value of $515,182.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sara E. Moss sold 29,873 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $121.16, for a total transaction of $3,619,412.68. The disclosure for this sale can be found here. Insiders have sold 1,566,381 shares of company stock worth $195,955,337 in the last quarter. Company insiders own 16.24% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of EL. Jennison Associates LLC bought a new position in shares of Estee Lauder Companies in the third quarter worth about $664,432,000. Janus Henderson Group PLC grew its holdings in shares of Estee Lauder Companies by 1,676.9% in the second quarter. Janus Henderson Group PLC now owns 4,695,498 shares of the company’s stock worth $450,675,000 after purchasing an additional 4,431,247 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Estee Lauder Companies by 41.1% in the second quarter. Northern Trust Corp now owns 3,732,174 shares of the company’s stock worth $358,214,000 after purchasing an additional 1,086,562 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Estee Lauder Companies by 7.4% in the second quarter. BlackRock Inc. now owns 14,797,992 shares of the company’s stock worth $1,420,311,000 after purchasing an additional 1,022,956 shares during the last quarter. Finally, Fred Alger Management Inc. bought a new position in shares of Estee Lauder Companies in the second quarter worth about $94,952,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.
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About Estee Lauder Companies
The Estee Lauder Companies Inc manufactures and markets skin care, makeup, fragrance and hair care products. The Company offers products, including skin care, makeup, fragrance, hair care and other. The Company operates in beauty products segment. The Company’s products are sold in over 150 countries and territories under brand names, including Estee Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, MAC, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frederic Malle, GLAMGLOW, By Kilian, BECCA and Too Faced.
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