The Goldman Sachs Group Begins Coverage on e.l.f. Beauty (NYSE:ELF)

Stock analysts at The Goldman Sachs Group initiated coverage on shares of e.l.f. Beauty (NYSE:ELF) in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $165.00 price target on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 17.33% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group reduced their price objective on 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. Bank of America dropped their price target on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of e.l.f. Beauty in a research note on Thursday. They set a “hold” rating and a $133.00 price objective for the company. TD Cowen dropped their target price on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Morgan Stanley reduced their price target on shares of e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, e.l.f. Beauty has a consensus rating of “Moderate Buy” and a consensus target price of $170.65.

e.l.f. Beauty Trading Up 6.9 %

Shares of ELF stock opened at $140.63 on Friday. The stock has a 50-day simple moving average of $118.97 and a 200 day simple moving average of $148.92. e.l.f. Beauty has a fifty-two week low of $98.50 and a fifty-two week high of $221.83. The stock has a market capitalization of $7.92 billion, a P/E ratio of 76.02, a P/E/G ratio of 3.03 and a beta of 1.49. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.34. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The company had revenue of $301.10 million during the quarter, compared to analyst estimates of $289.43 million. During the same quarter last year, the firm posted $0.66 EPS. The business’s revenue for the quarter was up 39.7% on a year-over-year basis. On average, sell-side analysts expect that e.l.f. Beauty will post 2.8 earnings per share for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In related news, Director Maureen C. Watson sold 785 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $130.00, for a total value of $102,050.00. Following the transaction, the director now directly owns 1,888 shares of the company’s stock, valued at approximately $245,440. This trade represents a 29.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tarang Amin sold 890 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $137.60, for a total value of $122,464.00. Following the sale, the chief executive officer now directly owns 99,699 shares of the company’s stock, valued at $13,718,582.40. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,205 shares of company stock worth $297,442 in the last 90 days. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ELF. Baillie Gifford & Co. bought a new stake in e.l.f. Beauty during the 2nd quarter valued at approximately $801,693,000. Champlain Investment Partners LLC acquired a new position in shares of e.l.f. Beauty during the third quarter worth approximately $121,558,000. Swedbank AB bought a new stake in shares of e.l.f. Beauty in the third quarter valued at approximately $76,321,000. Clearbridge Investments LLC grew its stake in shares of e.l.f. Beauty by 84.4% in the second quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock worth $265,432,000 after acquiring an additional 576,383 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position 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 worth $60,543,000 after acquiring an additional 383,478 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.