e.l.f. Beauty (NYSE:ELF) Stock Price Down 7.3% Following Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF)’s stock price traded down 7.3% during trading on Tuesday after Bank of America lowered their price target on the stock from $190.00 to $165.00. Bank of America currently has a buy rating on the stock. e.l.f. Beauty traded as low as $106.84 and last traded at $107.06. 1,251,252 shares traded hands during trading, a decline of 30% from the average session volume of 1,797,294 shares. The stock had previously closed at $115.43.

ELF has been the topic of several other research reports. Raymond James reaffirmed a “strong-buy” rating and issued a $235.00 target price on shares of e.l.f. Beauty in a report on Monday, July 22nd. Robert W. Baird lifted their target price on shares of e.l.f. Beauty from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, August 9th. B. Riley assumed coverage on shares of e.l.f. Beauty in a report on Tuesday, September 10th. They issued a “buy” rating and a $175.00 target price on the stock. DA Davidson reaffirmed a “buy” rating and issued a $223.00 target price on shares of e.l.f. Beauty in a report on Tuesday, October 1st. Finally, Morgan Stanley lowered their target price on shares of e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, e.l.f. Beauty has an average rating of “Moderate Buy” and an average target price of $196.93.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 23,528 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the completion of the transaction, the chief executive officer now owns 106,016 shares of the company’s stock, valued at $14,465,883.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.20% of the stock is currently owned by company insiders.

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

A number of institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in e.l.f. Beauty during the second quarter worth approximately $26,000. Matrix Trust Co acquired a new position in e.l.f. Beauty during the second quarter worth approximately $27,000. Innealta Capital LLC acquired a new position in e.l.f. Beauty during the second quarter worth approximately $30,000. Harbor Investment Advisory LLC acquired a new position in e.l.f. Beauty during the first quarter worth approximately $31,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in e.l.f. Beauty by 405.9% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock worth $36,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 4.8 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. The firm’s 50-day moving average is $132.31 and its 200 day moving average is $163.77. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 49.46, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.20. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. The company had revenue of $324.48 million during the quarter, compared to the consensus estimate of $303.60 million. Sell-side analysts anticipate that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current fiscal year.

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.