e.l.f. Beauty (NYSE:ELF) Price Target Cut to $220.00 by Analysts at Bank of America

e.l.f. Beauty (NYSE:ELF) had its price target lowered by Bank of America from $230.00 to $220.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on ELF. Morgan Stanley upped their price objective on e.l.f. Beauty from $168.00 to $184.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. DA Davidson reiterated a buy rating and issued a $220.00 price target on shares of e.l.f. Beauty in a report on Monday, April 8th. Stifel Nicolaus reduced their price target on e.l.f. Beauty from $167.00 to $151.00 and set a hold rating on the stock in a report on Monday. Piper Sandler reduced their price target on e.l.f. Beauty from $216.00 to $210.00 and set an overweight rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on e.l.f. Beauty from $197.00 to $182.00 and set an overweight rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $183.77.

e.l.f. Beauty Trading Up 18.6 %

Shares of ELF stock opened at $184.64 on Thursday. e.l.f. Beauty has a 1 year low of $83.80 and a 1 year high of $221.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.50 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $173.57 and its two-hundred day simple moving average is $159.53. The company has a market cap of $10.25 billion, a PE ratio of 81.70, a price-to-earnings-growth ratio of 1.49 and a beta of 1.60.

Insider Buying and Selling at e.l.f. Beauty

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,519 shares of e.l.f. Beauty stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $198.89, for a total transaction of $4,677,693.91. Following the completion of the sale, the chief executive officer now directly owns 10,889 shares of the company’s stock, valued at approximately $2,165,713.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Joshua Allen Franks sold 29,388 shares of e.l.f. Beauty stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $166.40, for a total value of $4,890,163.20. Following the transaction, the senior vice president now directly owns 108,748 shares in the company, valued at approximately $18,095,667.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tarang Amin sold 23,519 shares of e.l.f. Beauty stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total value of $4,677,693.91. Following the completion of the transaction, the chief executive officer now owns 10,889 shares in the company, valued at $2,165,713.21. The disclosure for this sale can be found here. Insiders sold a total of 201,600 shares of company stock valued at $34,307,124 in the last ninety days. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Armstrong Advisory Group Inc. increased its holdings in shares of e.l.f. Beauty by 390.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock valued at $29,000 after acquiring an additional 160 shares during the period. Harbor Investment Advisory LLC purchased a new position in shares of e.l.f. Beauty in the 1st quarter valued at $31,000. Oakworth Capital Inc. purchased a new position in shares of e.l.f. Beauty in the 1st quarter valued at $33,000. GPS Wealth Strategies Group LLC increased its holdings in shares of e.l.f. Beauty by 66.4% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 243 shares of the company’s stock valued at $35,000 after acquiring an additional 97 shares during the period. Finally, Rise Advisors LLC purchased a new position in shares of e.l.f. Beauty in the 1st quarter valued at $40,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.