e.l.f. Beauty (NYSE:ELF) Stock Price Down 5.3% Following Analyst Downgrade

e.l.f. Beauty, Inc. (NYSE:ELF - Get Free Report) shares were down 5.3% during trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $165.00 to $142.00. The Goldman Sachs Group currently has a buy rating on the stock. e.l.f. Beauty traded as low as $88.09 and last traded at $88.53. Approximately 987,031 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 1,758,759 shares. The stock had previously closed at $93.44.

A number of other brokerages have also issued reports on ELF. B. Riley reissued a "buy" rating and issued a $90.00 price target (down previously from $150.00) on shares of e.l.f. Beauty in a report on Friday. DA Davidson lowered e.l.f. Beauty from a "buy" rating to a "neutral" rating and lowered their price target for the company from $170.00 to $80.00 in a research report on Friday. Truist Financial lifted their price objective on e.l.f. Beauty from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Bank of America decreased their target price on e.l.f. Beauty from $190.00 to $165.00 and set a "buy" rating for the company in a report on Tuesday, October 15th. Finally, Piper Sandler cut their price target on shares of e.l.f. Beauty from $167.00 to $131.00 and set an "overweight" rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, e.l.f. Beauty has a consensus rating of "Moderate Buy" and a consensus price target of $134.00.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, Director Maureen C. Watson sold 785 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $130.00, for a total value of $102,050.00. Following the transaction, the director now directly owns 1,888 shares of the company's stock, valued at approximately $245,440. This trade represents a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott Milsten sold 530 shares of the business's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $137.60, for a total value of $72,928.00. Following the sale, the insider now owns 68,853 shares of the company's stock, valued at approximately $9,474,172.80. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,205 shares of company stock valued at $297,442 in the last 90 days. Corporate insiders own 3.50% of the company's stock.

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

A number of institutional investors and hedge funds have recently made changes to their positions in ELF. Truist Financial Corp raised its position in e.l.f. Beauty by 60.6% in the second quarter. Truist Financial Corp now owns 6,824 shares of the company's stock worth $1,438,000 after acquiring an additional 2,576 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of e.l.f. Beauty in the 2nd quarter worth $1,102,000. Park Avenue Securities LLC raised its holdings in e.l.f. Beauty by 41.2% in the 3rd quarter. Park Avenue Securities LLC now owns 7,377 shares of the company's stock worth $804,000 after purchasing an additional 2,151 shares during the period. Handelsbanken Fonder AB lifted its position in e.l.f. Beauty by 18.7% during the third quarter. Handelsbanken Fonder AB now owns 14,600 shares of the company's stock valued at $1,592,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of e.l.f. Beauty in the third quarter worth about $781,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Trading Down 19.6 %

The stock has a 50-day moving average price of $123.67 and a two-hundred day moving average price of $128.61. The stock has a market capitalization of $4.01 billion, a PE ratio of 38.44, a PEG ratio of 1.74 and a beta of 1.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. As a group, equities analysts forecast that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

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.