e.l.f. Beauty (NYSE:ELF) Shares Up 5.6% Following Analyst Upgrade

e.l.f. Beauty (NYSE:ELF)’s stock price shot up 5.6% during trading on Monday after Canaccord Genuity Group raised their price target on the stock from $90.00 to $97.00. Canaccord Genuity Group currently has a buy rating on the stock. e.l.f. Beauty traded as high as $78.70 and last traded at $77.7960. Approximately 848,472 shares traded hands during trading, a decline of 70% from the average session volume of 2,852,890 shares. The stock had previously closed at $73.69.

Several other equities research analysts have also recently issued reports on the company. Raymond James Financial lifted their price objective on e.l.f. Beauty from $85.00 to $87.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 14th. Robert W. Baird dropped their price objective on shares of e.l.f. Beauty from $115.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, April 28th. JPMorgan Chase & Co. increased their price objective on e.l.f. Beauty from $80.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group increased their target price on shares of e.l.f. Beauty from $60.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Weiss Ratings raised e.l.f. Beauty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.31.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,505 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $51.53, for a total value of $180,612.65. Following the sale, the senior vice president owned 150,027 shares of the company’s stock, valued at $7,730,891.31. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mandy J. Fields sold 4,327 shares of e.l.f. Beauty stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $51.53, for a total value of $222,970.31. Following the completion of the transaction, the insider owned 106,961 shares of the company’s stock, valued at $5,511,700.33. The trade was a 3.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 278,988 shares of company stock worth $18,354,580 over the last quarter. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of e.l.f. Beauty by 58.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock valued at $39,000 after acquiring an additional 117 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of e.l.f. Beauty by 97.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock valued at $32,000 after acquiring an additional 128 shares in the last quarter. Horizon Investments LLC boosted its stake in e.l.f. Beauty by 13.4% in the 4th quarter. Horizon Investments LLC now owns 1,089 shares of the company’s stock worth $83,000 after purchasing an additional 129 shares during the period. Public Employees Retirement System of Ohio boosted its stake in e.l.f. Beauty by 0.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 17,246 shares of the company’s stock worth $2,285,000 after purchasing an additional 144 shares during the period. Finally, California State Teachers Retirement System grew its position in e.l.f. Beauty by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 52,055 shares of the company’s stock worth $6,478,000 after purchasing an additional 152 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Stock Performance

The firm’s 50-day simple moving average is $62.63 and its two-hundred day simple moving average is $71.56. The company has a current ratio of 2.35, a quick ratio of 1.69 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $4.61 billion, a PE ratio of 169.21, a PEG ratio of 2.87 and a beta of 1.59.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Wednesday, May 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $449.29 million during the quarter, compared to analyst estimates of $423.06 million. e.l.f. Beauty had a return on equity of 11.02% and a net margin of 1.61%.The company’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. On average, equities research analysts expect that e.l.f. Beauty will post 2.42 earnings per share for the current fiscal year.

About e.l.f. Beauty

e.l.f. Beauty (NYSE: ELF) is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company’s portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.