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

Analysts at The Goldman Sachs Group started coverage on shares of e.l.f. Beauty (NYSE:ELF) in a report issued on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $165.00 price target on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 25.46% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Robert W. Baird cut their price target on shares of e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, October 21st. B. Riley cut their price target on shares of 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. Morgan Stanley cut 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 report on Monday, September 30th. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price target (up previously from $162.00) on shares of e.l.f. Beauty in a report on Thursday, November 7th. Finally, 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 report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, e.l.f. Beauty presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.65.

e.l.f. Beauty Stock Performance

Shares of ELF opened at $131.52 on Friday. 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 stock has a market capitalization of $7.41 billion, a P/E ratio of 71.09, a P/E/G ratio of 3.03 and a beta of 1.49. The company’s fifty day moving average is $117.75 and its two-hundred day moving average is $149.71. e.l.f. Beauty has a 1 year low of $98.50 and a 1 year high of $221.83.

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

Insiders Place Their Bets

In related news, CEO Tarang Amin sold 890 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were 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 approximately $13,718,582.40. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $102,050.00. Following the completion of the sale, the director now directly owns 1,888 shares in the company, valued at $245,440. This represents a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,205 shares of company stock valued at $297,442 in the last ninety days. Insiders own 3.50% of the company’s stock.

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

Several hedge funds have recently modified their holdings of the stock. Logan Capital Management Inc. boosted its position in shares of e.l.f. Beauty by 6.4% in the third quarter. Logan Capital Management Inc. now owns 42,923 shares of the company’s stock worth $4,680,000 after acquiring an additional 2,565 shares during the last quarter. Retirement Systems of Alabama raised its holdings in e.l.f. Beauty by 83.6% in the third quarter. Retirement Systems of Alabama now owns 143,758 shares of the company’s stock valued at $15,674,000 after buying an additional 65,448 shares during the period. Oddo BHF Asset Management Sas purchased a new position in e.l.f. Beauty in the third quarter valued at approximately $1,160,000. Wilmington Savings Fund Society FSB purchased a new position in e.l.f. Beauty in the third quarter valued at approximately $25,000. Finally, Sanctuary Advisors LLC raised its holdings in e.l.f. Beauty by 33.5% in the third quarter. Sanctuary Advisors LLC now owns 6,981 shares of the company’s stock valued at $761,000 after buying an additional 1,753 shares during the period. 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.