DA Davidson Reiterates “Buy” Rating for e.l.f. Beauty (NYSE:ELF)

e.l.f. Beauty (NYSE:ELF)‘s stock had its “buy” rating reissued by equities researchers at DA Davidson in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $220.00 price target on the stock. DA Davidson’s price objective indicates a potential upside of 14.89% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Robert W. Baird initiated coverage on shares of e.l.f. Beauty in a research note on Tuesday, January 30th. They set a “neutral” rating and a $185.00 price objective for the company. TD Cowen raised shares of e.l.f. Beauty from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $220.00 to $190.00 in a research note on Wednesday, April 17th. Stifel Nicolaus dropped their price objective on shares of e.l.f. Beauty from $167.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, May 20th. Piper Sandler dropped their price objective on shares of e.l.f. Beauty from $216.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Truist Financial raised their price objective on shares of e.l.f. Beauty from $150.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $183.77.

e.l.f. Beauty Price Performance

Shares of NYSE:ELF opened at $191.48 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.50 and a debt-to-equity ratio of 0.27. The company has a market cap of $10.63 billion, a P/E ratio of 86.25, a PEG ratio of 1.46 and a beta of 1.60. e.l.f. Beauty has a 52 week low of $88.47 and a 52 week high of $221.83. The company has a 50-day moving average price of $173.42 and a 200 day moving average price of $160.16.

Insider Activity

In other news, CEO Tarang Amin sold 23,519 shares of e.l.f. Beauty stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total transaction of $4,677,693.91. Following the sale, the chief executive officer now directly owns 10,889 shares in the company, valued at approximately $2,165,713.21. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Joshua Allen Franks sold 727 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $165.16, for a total transaction of $120,071.32. Following the completion of the sale, the senior vice president now directly owns 83,736 shares of the company’s stock, valued at $13,829,837.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tarang Amin sold 23,519 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 10,889 shares of the company’s stock, valued at $2,165,713.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,600 shares of company stock worth $34,307,124. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of e.l.f. Beauty by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,050,649 shares of the company’s stock valued at $873,351,000 after buying an additional 79,701 shares during the period. Wellington Management Group LLP lifted its position in shares of e.l.f. Beauty by 5.2% in the fourth quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock worth $366,744,000 after purchasing an additional 126,231 shares in the last quarter. Invesco Ltd. lifted its position in shares of e.l.f. Beauty by 15.3% in the third quarter. Invesco Ltd. now owns 1,497,707 shares of the company’s stock worth $164,493,000 after purchasing an additional 198,235 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of e.l.f. Beauty by 58.2% in the third quarter. William Blair Investment Management LLC now owns 1,424,268 shares of the company’s stock worth $156,427,000 after purchasing an additional 523,903 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of e.l.f. Beauty by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 952,863 shares of the company’s stock worth $137,538,000 after purchasing an additional 7,999 shares in the last quarter. Institutional investors and hedge funds 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.