Raymond James Issues Pessimistic Forecast for e.l.f. Beauty (NYSE:ELF) Stock Price

e.l.f. Beauty (NYSE:ELF - Get Free Report) had its price objective reduced by equities research analysts at Raymond James from $175.00 to $120.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "strong-buy" rating on the stock. Raymond James' target price would suggest a potential upside of 56.32% from the stock's current price.

A number of other analysts have also recently issued reports on the company. Robert W. Baird cut their price objective on e.l.f. Beauty from $240.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, October 21st. B. Riley reaffirmed a "buy" rating and issued a $90.00 price objective (down from $150.00) on shares of e.l.f. Beauty in a research report on Friday. Piper Sandler cut their price objective on e.l.f. Beauty from $167.00 to $131.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. DA Davidson lowered e.l.f. Beauty from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $170.00 to $80.00 in a research note on Friday. Finally, JPMorgan Chase & Co. increased their target price on e.l.f. Beauty from $154.00 to $163.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. 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. Based on data from MarketBeat.com, e.l.f. Beauty currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.00.

e.l.f. Beauty Stock Up 3.9 %

ELF traded up $2.91 on Friday, hitting $76.77. 3,237,111 shares of the company were exchanged, compared to its average volume of 3,255,420. e.l.f. Beauty has a 12 month low of $63.50 and a 12 month high of $221.83. The company has a market cap of $4.32 billion, a PE ratio of 45.42, a PEG ratio of 1.54 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. The stock's fifty day moving average is $121.36 and its 200-day moving average is $126.57.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 17.35% and a net margin of 7.55%. Equities research analysts predict that e.l.f. Beauty will post 2.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Maureen C. Watson sold 785 shares of e.l.f. Beauty 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 completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott Milsten sold 530 shares of e.l.f. Beauty stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $137.60, for a total value of $72,928.00. Following the completion of the transaction, the insider now directly owns 68,853 shares of the company's stock, valued at approximately $9,474,172.80. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,205 shares of company stock valued at $297,442. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of e.l.f. Beauty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELF. Truist Financial Corp increased its holdings in e.l.f. Beauty by 60.6% during the 2nd quarter. Truist Financial Corp now owns 6,824 shares of the company's stock worth $1,438,000 after purchasing an additional 2,576 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in e.l.f. Beauty during the 2nd quarter worth approximately $1,102,000. Handelsbanken Fonder AB increased its holdings in e.l.f. Beauty by 18.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 14,600 shares of the company's stock worth $1,592,000 after purchasing an additional 2,300 shares in the last quarter. NBC Securities Inc. increased its holdings in e.l.f. Beauty by 2,181.7% during the 3rd quarter. NBC Securities Inc. now owns 4,746 shares of the company's stock worth $517,000 after purchasing an additional 4,538 shares in the last quarter. Finally, Swedbank AB bought a new stake in e.l.f. Beauty during the 3rd quarter worth approximately $76,321,000. 92.44% of the stock is owned by institutional investors.

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.