DA Davidson Reaffirms Buy Rating for e.l.f. Beauty (NYSE:ELF)

DA Davidson reissued their buy rating on shares of e.l.f. Beauty (NYSE:ELF) in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a $220.00 price target on the stock.

A number of other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of e.l.f. Beauty from a hold rating to a sell rating in a report on Wednesday, February 7th. Robert W. Baird assumed coverage on shares of e.l.f. Beauty in a research note on Tuesday, January 30th. They issued a neutral rating and a $185.00 target price on the stock. Stifel Nicolaus decreased their price target on shares of e.l.f. Beauty from $167.00 to $151.00 and set a hold rating for the company in a research note on Monday, May 20th. Morgan Stanley upped their price objective on e.l.f. Beauty from $168.00 to $184.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. Finally, JPMorgan Chase & Co. decreased their target price on e.l.f. Beauty from $197.00 to $182.00 and set an overweight rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $183.77.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock opened at $191.42 on Thursday. The business’s fifty day simple moving average is $173.42 and its 200 day simple moving average is $160.56. The company has a current ratio of 1.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.25. e.l.f. Beauty has a 12 month low of $88.47 and a 12 month high of $221.83. The firm has a market capitalization of $10.63 billion, a P/E ratio of 86.23, a price-to-earnings-growth ratio of 1.74 and a beta of 1.60.

Insider Buying and Selling at e.l.f. Beauty

In other news, CEO Tarang Amin sold 23,519 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total value of $4,677,693.91. Following the transaction, the chief executive officer now owns 10,889 shares of the company’s stock, valued at $2,165,713.21. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Tarang Amin sold 23,519 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total value of $4,677,693.91. Following the transaction, the chief executive officer now directly owns 10,889 shares in the company, valued at $2,165,713.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Joshua Allen Franks sold 727 shares of e.l.f. Beauty stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $165.16, for a total transaction of $120,071.32. Following the sale, the senior vice president now owns 83,736 shares of the company’s stock, valued at $13,829,837.76. The disclosure for this sale can be found here. Insiders sold a total of 201,600 shares of company stock valued at $34,307,124 in the last three months. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELF. Guidance Capital Inc. lifted its stake in e.l.f. Beauty by 1.6% during the fourth quarter. Guidance Capital Inc. now owns 3,510 shares of the company’s stock worth $490,000 after purchasing an additional 56 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of e.l.f. Beauty by 3.2% during the 4th quarter. First Trust Direct Indexing L.P. now owns 2,106 shares of the company’s stock valued at $304,000 after buying an additional 65 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in e.l.f. Beauty by 0.3% in the fourth quarter. State of Alaska Department of Revenue now owns 33,993 shares of the company’s stock worth $4,906,000 after buying an additional 85 shares in the last quarter. GAMMA Investing LLC grew its position in e.l.f. Beauty by 33.2% during the first quarter. GAMMA Investing LLC now owns 353 shares of the company’s stock valued at $69,000 after acquiring an additional 88 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of e.l.f. Beauty by 0.3% during the fourth quarter. American International Group Inc. now owns 29,435 shares of the company’s stock worth $4,249,000 after acquiring an additional 90 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

About e.l.f. Beauty

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.