e.l.f. Beauty’s (ELF) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of e.l.f. Beauty (NYSE:ELF) in a research report report published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a $165.00 target price on the stock.

A number of other equities analysts have also weighed in on ELF. Raymond James Financial increased their target price on shares of e.l.f. Beauty from $155.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Monday. JPMorgan Chase & Co. raised their price objective on shares of e.l.f. Beauty from $130.00 to $168.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Piper Sandler started coverage on shares of e.l.f. Beauty in a research report on Thursday, September 4th. They issued an “overweight” rating and a $150.00 price objective for the company. Morgan Stanley raised their price objective on shares of e.l.f. Beauty from $134.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of e.l.f. Beauty in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.73.

e.l.f. Beauty Price Performance

Shares of NYSE:ELF opened at $124.65 on Tuesday. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $7.39 billion, a PE ratio of 73.32, a P/E/G ratio of 2.88 and a beta of 1.57. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $150.99. The company has a 50-day moving average price of $131.70 and a two-hundred day moving average price of $108.94.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The firm had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $1.10 earnings per share. Equities analysts forecast that e.l.f. Beauty will post 2.38 EPS for the current year.

Insiders Place Their Bets

In related news, insider Kory Marchisotto sold 10,812 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $150.00, for a total value of $1,621,800.00. Following the sale, the insider directly owned 133,976 shares of the company’s stock, valued at $20,096,400. This trade represents a 7.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott Milsten sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $150.23, for a total transaction of $2,253,450.00. Following the completion of the sale, the insider directly owned 97,406 shares in the company, valued at $14,633,303.38. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,060 shares of company stock valued at $40,994,733 over the last three months. Corporate insiders own 3.90% of the company’s stock.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aurora Investment Counsel purchased a new stake in e.l.f. Beauty in the first quarter valued at approximately $294,000. Caas Capital Management LP raised its stake in shares of e.l.f. Beauty by 1,466.7% during the first quarter. Caas Capital Management LP now owns 4,700 shares of the company’s stock worth $295,000 after acquiring an additional 4,400 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of e.l.f. Beauty by 165.6% during the first quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company’s stock worth $953,000 after acquiring an additional 9,466 shares in the last quarter. Generate Investment Management Ltd purchased a new position in shares of e.l.f. Beauty during the first quarter worth approximately $21,650,000. Finally, Quantitative Investment Management LLC purchased a new position in shares of e.l.f. Beauty during the first quarter worth approximately $3,916,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.