e.l.f. Beauty (NYSE:ELF) Shares Gap Down – Here’s Why

e.l.f. Beauty, Inc. (NYSE:ELF) shares gapped down before the market opened on Monday . The stock had previously closed at $121.33, but opened at $118.00. e.l.f. Beauty shares last traded at $117.11, with a volume of 924,869 shares traded.

Analyst Ratings Changes

ELF has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and set a $165.00 price objective (up previously from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. Canaccord Genuity Group cut their price objective on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Truist Financial cut their price objective 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. Morgan Stanley lowered their target price on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Finally, Raymond James reissued a “strong-buy” rating and issued a $235.00 price target on shares of e.l.f. Beauty in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, e.l.f. Beauty has a consensus rating of “Moderate Buy” and a consensus price target of $173.53.

e.l.f. Beauty Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78. The business has a 50 day simple moving average of $111.39 and a 200-day simple moving average of $154.07. The stock has a market capitalization of $6.86 billion, a P/E ratio of 65.58, a price-to-earnings-growth ratio of 2.66 and a beta of 1.44.

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

Insider Activity at e.l.f. Beauty

In other news, CEO Tarang Amin sold 23,528 shares of the company’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 transaction of $3,210,395.60. Following the transaction, the chief executive officer now directly owns 106,016 shares in the company, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On e.l.f. Beauty

Institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in e.l.f. Beauty in the second quarter worth about $26,000. Matrix Trust Co acquired a new position in shares of e.l.f. Beauty in the 2nd quarter valued at $27,000. Innealta Capital LLC acquired a new stake in shares of e.l.f. Beauty in the 2nd quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. grew its stake in e.l.f. Beauty by 405.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock valued at $36,000 after acquiring an additional 138 shares during the period. Finally, Crewe Advisors LLC lifted its stake in e.l.f. Beauty by 456.3% in the second quarter. Crewe Advisors LLC now owns 178 shares of the company’s stock valued at $38,000 after buying an additional 146 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

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.