JPMorgan Chase & Co. Lowers e.l.f. Beauty (NYSE:ELF) Price Target to $207.00

e.l.f. Beauty (NYSE:ELF) had its price target dropped by research analysts at JPMorgan Chase & Co. from $224.00 to $207.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 40.74% from the stock’s current price.

Several other equities analysts have also issued reports on ELF. Robert W. Baird boosted their target price on e.l.f. Beauty from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday. TD Cowen boosted their target price on e.l.f. Beauty from $190.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Canaccord Genuity Group boosted their price objective on e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Raymond James reiterated a “strong-buy” rating and issued a $235.00 price objective on shares of e.l.f. Beauty in a research report on Monday, July 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $260.00 price target (up previously from $258.00) on shares of e.l.f. Beauty in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $216.43.

e.l.f. Beauty Price Performance

Shares of e.l.f. Beauty stock traded down $13.75 during trading on Friday, reaching $147.08. The company’s stock had a trading volume of 2,472,718 shares, compared to its average volume of 1,631,003. The stock has a 50-day moving average price of $190.75 and a two-hundred day moving average price of $182.63. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.25. e.l.f. Beauty has a one year low of $88.47 and a one year high of $221.83. The stock has a market capitalization of $8.23 billion, a P/E ratio of 67.68, a price-to-earnings-growth ratio of 3.66 and a beta of 1.46.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Wednesday, May 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.16. The company had revenue of $321.14 million during the quarter, compared to analyst estimates of $292.47 million. e.l.f. Beauty had a return on equity of 26.64% and a net margin of 12.47%. As a group, sell-side analysts anticipate that e.l.f. Beauty will post 2.84 EPS for the current fiscal year.

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

In other news, CEO Tarang Amin sold 42,953 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total transaction of $7,944,586.88. Following the sale, the chief executive officer now directly owns 258,667 shares of the company’s stock, valued at approximately $47,843,048.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,370 shares of e.l.f. Beauty stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $201.28, for a total value of $678,313.60. Following the transaction, the senior vice president now owns 71,986 shares in the company, valued at $14,489,342.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tarang Amin sold 42,953 shares of e.l.f. Beauty stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $184.96, for a total value of $7,944,586.88. Following the sale, the chief executive officer now directly owns 258,667 shares in the company, valued at $47,843,048.32. The disclosure for this sale can be found here. Insiders have sold a total of 97,390 shares of company stock valued at $18,264,873 in the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of e.l.f. Beauty

A number of hedge funds have recently made changes to their positions in ELF. Ashton Thomas Private Wealth LLC acquired a new position in e.l.f. Beauty in the second quarter valued at approximately $26,000. Matrix Trust Co bought a new stake in shares of e.l.f. Beauty during the second quarter valued at approximately $27,000. Innealta Capital LLC bought a new stake in shares of e.l.f. Beauty during the second quarter valued at approximately $30,000. Harbor Investment Advisory LLC bought a new stake in shares of e.l.f. Beauty during the first quarter valued at approximately $31,000. Finally, Oakworth Capital Inc. bought a new stake in shares of e.l.f. Beauty during the first quarter valued at approximately $33,000. 92.44% of the stock is owned by institutional investors and hedge funds.

e.l.f. Beauty Company Profile

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.