e.l.f. Beauty (NYSE:ELF) Shares Gap Up – Here’s What Happened

e.l.f. Beauty, Inc. (NYSE:ELF)’s share price gapped up before the market opened on Friday . The stock had previously closed at $62.97, but opened at $66.13. e.l.f. Beauty shares last traded at $66.44, with a volume of 516,912 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ELF. Deutsche Bank Aktiengesellschaft initiated coverage on shares of e.l.f. Beauty in a research report on Thursday, December 12th. They issued a “hold” rating and a $133.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of e.l.f. Beauty from $154.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. DA Davidson reissued a “neutral” rating and set a $80.00 price target on shares of e.l.f. Beauty in a report on Tuesday, February 18th. Truist Financial lifted their price objective on e.l.f. Beauty from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group cut their target price on e.l.f. Beauty from $174.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, e.l.f. Beauty currently has an average rating of “Moderate Buy” and an average price target of $132.94.

e.l.f. Beauty Price Performance

The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 39.82, a price-to-earnings-growth ratio of 6.76 and a beta of 1.60. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The company has a 50 day simple moving average of $93.16 and a 200 day simple moving average of $111.75.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. As a group, research analysts predict that e.l.f. Beauty, Inc. will post 2.38 EPS for the current year.

Insider Activity at e.l.f. Beauty

In related news, Director Maureen C. Watson sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $67.39, for a total transaction of $269,560.00. Following the transaction, the director now directly owns 1,888 shares of the company’s stock, valued at approximately $127,232.32. The trade was a 67.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D increased its stake in e.l.f. Beauty by 4.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 21,443 shares of the company’s stock valued at $2,338,000 after purchasing an additional 874 shares during the last quarter. Entropy Technologies LP increased its position in e.l.f. Beauty by 60.3% in the third quarter. Entropy Technologies LP now owns 3,238 shares of the company’s stock worth $353,000 after buying an additional 1,218 shares during the period. GSA Capital Partners LLP lifted its stake in e.l.f. Beauty by 230.6% in the third quarter. GSA Capital Partners LLP now owns 13,045 shares of the company’s stock valued at $1,422,000 after buying an additional 9,099 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of e.l.f. Beauty by 1,380.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,284 shares of the company’s stock valued at $1,775,000 after acquiring an additional 15,184 shares during the period. Finally, Prime Capital Investment Advisors LLC grew its position in shares of e.l.f. Beauty by 7.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 12,488 shares of the company’s stock worth $1,362,000 after acquiring an additional 909 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.