e.l.f. Beauty (NYSE:ELF) Shares Down 4.5% – Here’s Why

e.l.f. Beauty (NYSE:ELF)’s stock price was down 4.5% during trading on Wednesday . The company traded as low as $63.71 and last traded at $63.9390. Approximately 1,730,239 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 2,828,447 shares. The stock had previously closed at $66.93.

Analysts Set New Price Targets

ELF has been the topic of several recent research reports. Jefferies Financial Group dropped their target price on e.l.f. Beauty from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. JPMorgan Chase & Co. reduced their price target on e.l.f. Beauty from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Piper Sandler reissued a “neutral” rating on shares of e.l.f. Beauty in a research report on Friday, June 12th. Raymond James Financial restated a “strong-buy” rating and set a $85.00 price objective on shares of e.l.f. Beauty in a research note on Thursday, May 21st. Finally, B. Riley Financial decreased their target price on shares of e.l.f. Beauty from $130.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.31.

e.l.f. Beauty Stock Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 2.35 and a quick ratio of 1.69. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 139.59, a P/E/G ratio of 2.42 and a beta of 1.63. The firm has a fifty day simple moving average of $59.66 and a two-hundred day simple moving average of $72.58.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Wednesday, May 20th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $449.29 million for 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 was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. On average, analysts expect that e.l.f. Beauty will post 2.42 EPS for the current year.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, insider Kory Marchisotto sold 4,352 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $51.53, for a total transaction of $224,258.56. Following the transaction, the insider owned 181,868 shares in the company, valued at approximately $9,371,658.04. This represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Catherine Hartnett sold 4,352 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $51.53, for a total transaction of $224,258.56. Following the completion of the transaction, the insider directly owned 54,056 shares of the company’s stock, valued at approximately $2,785,505.68. This represents a 7.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 256,347 shares of company stock worth $15,713,592 in the last 90 days. 3.90% of the stock is owned by insiders.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELF. Northwestern Mutual Wealth Management Co. grew its stake in e.l.f. Beauty by 58.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock valued at $39,000 after purchasing an additional 117 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of e.l.f. Beauty by 97.0% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock worth $32,000 after purchasing an additional 128 shares during the last quarter. Horizon Investments LLC raised its stake in shares of e.l.f. Beauty by 13.4% in the fourth 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 last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of e.l.f. Beauty by 0.8% during the third 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 lifted its holdings in shares of e.l.f. Beauty by 0.3% during the second 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 during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Company Profile

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.