e.l.f. Beauty (NYSE:ELF) Stock Price Up 9.5% – Still a Buy?

e.l.f. Beauty (NYSE:ELF)’s stock price rose 9.5% during mid-day trading on Wednesday . The stock traded as high as $58.52 and last traded at $59.2830. Approximately 812,620 shares traded hands during trading, a decline of 69% from the average daily volume of 2,591,899 shares. The stock had previously closed at $54.13.

Analyst Upgrades and Downgrades

ELF has been the topic of several recent research reports. Evercore initiated coverage on e.l.f. Beauty in a report on Thursday, April 2nd. They set an “inline” rating and a $68.00 target price on the stock. Morgan Stanley lowered their price objective on e.l.f. Beauty from $67.00 to $59.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Citigroup cut their price objective on e.l.f. Beauty from $115.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Jefferies Financial Group reduced their target price on e.l.f. Beauty from $85.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Finally, B. Riley Financial decreased their target price on shares of e.l.f. Beauty from $130.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.75.

e.l.f. Beauty Stock Performance

The stock has a market capitalization of $3.40 billion, a P/E ratio of 124.45, a price-to-earnings-growth ratio of 2.32 and a beta of 1.71. The company has a current ratio of 2.35, a quick ratio of 1.69 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $62.10 and a two-hundred day moving average price of $74.32.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Wednesday, May 20th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. e.l.f. Beauty had a return on equity of 11.02% and a net margin of 1.61%.The company had revenue of $449.29 million for the quarter, compared to analyst estimates of $423.06 million. During the same quarter in the prior year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. On average, equities analysts forecast that e.l.f. Beauty will post 2.45 earnings per share for the current year.

Insider Activity

In other news, SVP Joshua Allen Franks sold 23,535 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $63.66, for a total transaction of $1,498,238.10. Following the completion of the sale, the senior vice president owned 118,071 shares of the company’s stock, valued at $7,516,399.86. This trade represents a 16.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Tarang Amin sold 52,880 shares of e.l.f. Beauty stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $62.64, for a total transaction of $3,312,403.20. Following the completion of the sale, the chief executive officer owned 98,416 shares of the company’s stock, valued at $6,164,778.24. This represents a 34.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 210,013 shares of company stock worth $13,315,490. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On e.l.f. Beauty

Several hedge funds and other institutional investors have recently bought and sold shares of ELF. State of Wyoming lifted its position in e.l.f. Beauty by 7.1% in the 3rd quarter. State of Wyoming now owns 1,595 shares of the company’s stock valued at $211,000 after acquiring an additional 106 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of e.l.f. Beauty by 58.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock worth $39,000 after purchasing an additional 117 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of e.l.f. Beauty by 97.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock worth $32,000 after purchasing an additional 128 shares in the last quarter. Horizon Investments LLC raised its stake in shares of e.l.f. Beauty by 13.4% in the fourth quarter. Horizon Investments LLC now owns 1,089 shares of the company’s stock worth $83,000 after purchasing an additional 129 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of e.l.f. Beauty by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 17,246 shares of the company’s stock worth $2,285,000 after purchasing an additional 144 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

e.l.f. Beauty Company Profile

e.l.f. Beauty (NYSE: ELF) is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company’s portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.