e.l.f. Beauty (NYSE:ELF) Shares Gap Down Following Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF)’s share price gapped down prior to trading on Tuesday after Robert W. Baird lowered their price target on the stock from $240.00 to $175.00. The stock had previously closed at $112.51, but opened at $110.00. Robert W. Baird currently has an outperform rating on the stock. e.l.f. Beauty shares last traded at $109.70, with a volume of 171,282 shares traded.

ELF has been the subject of a number of other reports. TD Cowen decreased their price objective on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, September 12th. B. Riley started coverage on e.l.f. Beauty in a research report on Tuesday, September 10th. They set a “buy” rating and a $175.00 price objective on the stock. Truist Financial dropped their price target on shares of e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. UBS Group lowered their price objective on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Morgan Stanley lowered their price target on 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 investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, e.l.f. Beauty presently has a consensus rating of “Moderate Buy” and an average price target of $186.57.

Insider Buying and Selling

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $136.45, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is owned by company insiders.

Institutional Trading of e.l.f. Beauty

Hedge funds have recently modified their holdings of the company. Picton Mahoney Asset Management increased its position in e.l.f. Beauty by 3.2% in the second quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock worth $512,000 after purchasing an additional 75 shares during the last quarter. Hanseatic Management Services Inc. increased its holdings in shares of e.l.f. Beauty by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock worth $950,000 after buying an additional 77 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of e.l.f. Beauty by 33.2% in the 1st quarter. GAMMA Investing LLC now owns 353 shares of the company’s stock worth $69,000 after buying an additional 88 shares during the last quarter. American International Group Inc. raised its position in shares of e.l.f. Beauty by 0.3% during the 4th quarter. American International Group Inc. now owns 29,435 shares of the company’s stock valued at $4,249,000 after buying an additional 90 shares in the last quarter. Finally, Guardian Asset Advisors LLC lifted its holdings in shares of e.l.f. Beauty by 6.5% in the 1st quarter. Guardian Asset Advisors LLC now owns 1,485 shares of the company’s stock valued at $291,000 after acquiring an additional 90 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Trading Down 2.9 %

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 company has a 50-day moving average of $126.06 and a 200 day moving average of $161.28. The company has a market cap of $6.11 billion, a PE ratio of 50.60, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.20. The business had revenue of $324.48 million for the quarter, compared to the consensus estimate of $303.60 million. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. Analysts predict that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current 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.