e.l.f. Beauty (NYSE:ELF) Trading Down 4.6% – What’s Next?

e.l.f. Beauty, Inc. (NYSE:ELF)’s stock price dropped 4.6% during trading on Monday . The stock traded as low as $121.52 and last traded at $123.58. Approximately 603,507 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,965,939 shares. The stock had previously closed at $129.52.

Wall Street Analyst Weigh In

ELF has been the subject of a number of research analyst reports. Truist Financial dropped their target price on shares of e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. B. Riley dropped their price objective on e.l.f. Beauty from $175.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Bank of America lowered their price target on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Stifel Nicolaus reduced their price objective on shares of e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $165.00 price target (up from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

e.l.f. Beauty Stock Performance

The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 70.01, a P/E/G ratio of 2.84 and a beta of 1.44. The stock’s 50 day moving average price is $113.65 and its 200 day moving average price is $151.35. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22.

e.l.f. Beauty (NYSE:ELF) last released its earnings results 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 business had revenue of $301.10 million during the quarter, compared to analysts’ expectations of $289.43 million. During the same period last year, the business earned $0.66 earnings per share. The firm’s revenue was up 39.7% on a year-over-year basis. Analysts expect that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

Insider Transactions at e.l.f. Beauty

In other news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was 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 owns 106,016 shares in the company, valued at approximately $14,465,883.20. This trade 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. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of e.l.f. Beauty in the third quarter valued at about $25,000. Sanctuary Advisors LLC grew its position in shares of e.l.f. Beauty by 33.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 6,981 shares of the company’s stock worth $761,000 after purchasing an additional 1,753 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of e.l.f. Beauty by 26.4% during the third quarter. Sunbelt Securities Inc. now owns 1,058 shares of the company’s stock worth $115,000 after purchasing an additional 221 shares during the period. Coldstream Capital Management Inc. raised its position in shares of e.l.f. Beauty by 319.2% in the third quarter. Coldstream Capital Management Inc. now owns 4,179 shares of the company’s stock valued at $501,000 after buying an additional 3,182 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of e.l.f. Beauty by 2.7% in the third quarter. Geode Capital Management LLC now owns 955,064 shares of the company’s stock valued at $104,158,000 after buying an additional 24,778 shares during the period. 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.