e.l.f. Beauty (NYSE:ELF) Trading Up 5.4% - Should You Buy?

Shares of e.l.f. Beauty, Inc. (NYSE:ELF - Get Free Report) shot up 5.4% during trading on Friday . The stock traded as high as $138.66 and last traded at $138.55. 884,647 shares were traded during mid-day trading, a decline of 55% from the average session volume of 1,958,104 shares. The stock had previously closed at $131.51.

Analysts Set New Price Targets

ELF has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of e.l.f. Beauty in a research report on Thursday. They issued a "hold" rating and a $133.00 price objective for the company. Bank of America decreased their price target on 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. Piper Sandler reissued an "overweight" rating and issued a $165.00 price objective (up previously from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. Jefferies Financial Group decreased their target price on e.l.f. Beauty from $220.00 to $175.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Finally, Truist Financial lowered their target price on e.l.f. Beauty from $210.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $170.65.

e.l.f. Beauty Price Performance

The firm has a market cap of $7.92 billion, a P/E ratio of 76.00, a PEG ratio of 3.03 and a beta of 1.49. The business's fifty day simple moving average is $118.97 and its 200-day simple moving average is $149.23. 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 released its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.34. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The company had revenue of $301.10 million for the quarter, compared to analyst estimates of $289.43 million. During the same period in the previous year, the company posted $0.66 EPS. The firm's revenue for the quarter was up 39.7% compared to the same quarter last year. As a group, analysts forecast that e.l.f. Beauty, Inc. will post 2.8 EPS for the current fiscal year.

Insider Transactions at e.l.f. Beauty

In other news, CEO Tarang Amin sold 890 shares of the business's stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maureen C. Watson sold 785 shares of the company'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 transaction, the director now owns 1,888 shares in the company, valued at approximately $245,440. This trade represents a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,205 shares of company stock valued at $297,442. 3.50% of the stock is currently owned by corporate insiders.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of ELF. Wealth Enhancement Advisory Services LLC increased its position in shares of e.l.f. Beauty by 139.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,203 shares of the company's stock valued at $1,729,000 after purchasing an additional 4,776 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of e.l.f. Beauty by 44.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,300 shares of the company's stock worth $1,328,000 after acquiring an additional 1,935 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of e.l.f. Beauty during the second quarter worth approximately $232,000. Raymond James & Associates lifted its holdings in shares of e.l.f. Beauty by 21.1% in the 2nd quarter. Raymond James & Associates now owns 123,631 shares of the company's stock worth $26,052,000 after acquiring an additional 21,554 shares during the last quarter. Finally, Lifestyle Asset Management Inc. boosted its stake in shares of e.l.f. Beauty by 24.1% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 1,662 shares of the company's stock valued at $350,000 after purchasing an additional 323 shares in the last quarter. Hedge funds and other 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.