JPMorgan Chase & Co. Increases e.l.f. Beauty (NYSE:ELF) Price Target to $163.00

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price target upped by stock analysts at JPMorgan Chase & Co. from $154.00 to $163.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 28.18% from the stock's previous close.

Several other research firms also recently weighed in on ELF. Bank of America reduced their target price on shares of e.l.f. Beauty from $190.00 to $165.00 and set a "buy" rating for the company in a research note on Tuesday, October 15th. The Goldman Sachs Group began coverage on shares of e.l.f. Beauty in a report on Friday, December 13th. They set a "buy" rating and a $165.00 target price on the stock. Canaccord Genuity Group cut their price target on e.l.f. Beauty from $250.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Piper Sandler lifted their price target on e.l.f. Beauty from $165.00 to $167.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Finally, B. Riley dropped their price objective on e.l.f. Beauty from $175.00 to $150.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $169.06.

e.l.f. Beauty Stock Performance

Shares of NYSE:ELF traded down $6.74 during mid-day trading on Thursday, reaching $127.17. The company had a trading volume of 1,966,609 shares, compared to its average volume of 1,423,011. The company's 50-day moving average price is $129.27 and its 200-day moving average price is $137.41. e.l.f. Beauty has a one year low of $98.50 and a one year high of $221.83. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 68.74, a PEG ratio of 2.17 and a beta of 1.50. 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 - Get Free Report) last issued its earnings results 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 firm had revenue of $301.10 million for the quarter, compared to analyst estimates of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The business's revenue was up 39.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. As a group, equities research analysts anticipate that e.l.f. Beauty will post 2.8 EPS for the current fiscal year.

Insider Activity

In other e.l.f. Beauty news, insider Scott Milsten sold 530 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $137.60, for a total transaction of $72,928.00. Following the transaction, the insider now directly owns 68,853 shares in the company, valued at $9,474,172.80. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tarang Amin sold 890 shares of the business's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $137.60, for a total transaction of $122,464.00. Following the completion of the sale, the chief executive officer now owns 99,699 shares of the company's stock, valued at approximately $13,718,582.40. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,205 shares of company stock worth $297,442. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On e.l.f. Beauty

Several institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in e.l.f. Beauty by 3.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,872 shares of the company's stock worth $361,000 after purchasing an additional 91 shares during the period. Evergreen Capital Management LLC increased its stake in shares of e.l.f. Beauty by 2.1% in the second quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company's stock worth $1,007,000 after buying an additional 99 shares during the period. Cetera Trust Company N.A raised its holdings in e.l.f. Beauty by 14.4% during the 3rd quarter. Cetera Trust Company N.A now owns 1,030 shares of the company's stock valued at $112,000 after buying an additional 130 shares during the last quarter. Fulton Bank N.A. boosted its position in e.l.f. Beauty by 1.7% during the 3rd quarter. Fulton Bank N.A. now owns 8,222 shares of the company's stock valued at $896,000 after buying an additional 139 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in e.l.f. Beauty by 6.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,609 shares of the company's stock worth $284,000 after acquiring an additional 159 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

About e.l.f. Beauty

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.