Canaccord Genuity Group Cuts e.l.f. Beauty (NYSE:ELF) Price Target to $105.00

e.l.f. Beauty (NYSE:ELF) had its price target reduced by Canaccord Genuity Group from $174.00 to $105.00 in a research note released on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other analysts have also weighed in on ELF. Jefferies Financial Group reduced their price objective on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Raymond James decreased their price objective on shares of e.l.f. Beauty from $175.00 to $120.00 and set a “strong-buy” rating for the company in a report on Friday. Piper Sandler cut their target price on e.l.f. Beauty from $167.00 to $131.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. JPMorgan Chase & Co. boosted their price target on e.l.f. Beauty from $154.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Bank of America dropped their price objective on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, e.l.f. Beauty presently has a consensus rating of “Moderate Buy” and an average target price of $134.00.

e.l.f. Beauty Price Performance

Shares of NYSE ELF opened at $71.12 on Friday. The company has a 50 day simple moving average of $122.50 and a two-hundred day simple moving average of $127.58. e.l.f. Beauty has a fifty-two week low of $63.50 and a fifty-two week high of $221.83. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 42.08, a P/E/G ratio of 1.54 and a beta of 1.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 17.35%. Analysts expect that e.l.f. Beauty will post 2.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Tarang Amin sold 890 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $137.60, for a total transaction of $122,464.00. Following the completion of the sale, the chief executive officer now owns 99,699 shares in the company, valued at approximately $13,718,582.40. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott Milsten sold 530 shares of e.l.f. Beauty stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $137.60, for a total value of $72,928.00. Following the sale, the insider now directly owns 68,853 shares in the company, valued at $9,474,172.80. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,205 shares of company stock worth $297,442. Company insiders own 3.50% of the company’s stock.

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

A number of institutional investors have recently added to or reduced their stakes in ELF. Baillie Gifford & Co. grew its stake in e.l.f. Beauty by 51.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company’s stock valued at $1,005,584,000 after acquiring an additional 2,703,742 shares in the last quarter. Champlain Investment Partners LLC bought a new position in shares of e.l.f. Beauty during the 3rd quarter valued at about $121,558,000. Swedbank AB purchased a new position in shares of e.l.f. Beauty during the third quarter valued at about $76,321,000. Raymond James Financial Inc. bought a new stake in shares of e.l.f. Beauty in the fourth quarter worth about $68,775,000. Finally, Thrivent Financial for Lutherans boosted its stake in e.l.f. Beauty by 223.2% during the third quarter. Thrivent Financial for Lutherans now owns 555,287 shares of the company’s stock valued at $60,543,000 after buying an additional 383,478 shares during the last quarter. 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.