e.l.f. Beauty (ELF) Cut to “Neutral” at Citigroup

e.l.f. Beauty (NYSE:ELF) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, August 9th, MarketBeat.com reports. They currently have a $16.00 price objective on the stock, down from their prior price objective of $24.00. Citigroup’s target price suggests a potential upside of 15.19% from the company’s current price.

Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of e.l.f. Beauty from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. TheStreet downgraded shares of e.l.f. Beauty from a “c-” rating to a “d+” rating in a report on Monday, July 16th. Jefferies Financial Group downgraded shares of e.l.f. Beauty from a “buy” rating to a “hold” rating and boosted their target price for the stock from $18.00 to $30.00 in a report on Thursday, August 9th. Oppenheimer started coverage on shares of e.l.f. Beauty in a report on Thursday, May 24th. They issued an “outperform” rating on the stock. Finally, ValuEngine downgraded shares of e.l.f. Beauty from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. e.l.f. Beauty currently has an average rating of “Hold” and a consensus price target of $18.44.

Shares of ELF traded up $0.34 during trading hours on Thursday, reaching $13.89. 813,100 shares of the stock traded hands, compared to its average volume of 573,459. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.72 and a current ratio of 3.58. e.l.f. Beauty has a 52-week low of $9.30 and a 52-week high of $23.85. The stock has a market cap of $629.98 million, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 6.11 and a beta of 1.16.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Wednesday, August 8th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. The business had revenue of $59.06 million for the quarter, compared to analysts’ expectations of $59.20 million. e.l.f. Beauty had a net margin of 10.52% and a return on equity of 11.60%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. equities research analysts predict that e.l.f. Beauty will post 0.32 earnings per share for the current year.

In related news, Director Maureen C. Watson sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $18.69, for a total transaction of $74,760.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tarang Amin bought 65,600 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was bought at an average price of $10.76 per share, for a total transaction of $705,856.00. The disclosure for this purchase can be found here. Corporate insiders own 16.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new position in e.l.f. Beauty in the 2nd quarter worth about $112,000. Schwab Charles Investment Management Inc. grew its stake in e.l.f. Beauty by 7.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 108,291 shares of the company’s stock worth $1,651,000 after acquiring an additional 7,536 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of e.l.f. Beauty by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 173,707 shares of the company’s stock worth $3,875,000 after purchasing an additional 8,976 shares during the period. MetLife Investment Advisors LLC purchased a new stake in shares of e.l.f. Beauty in the 4th quarter worth approximately $225,000. Finally, Diversified Trust Co purchased a new stake in shares of e.l.f. Beauty in the 2nd quarter worth approximately $169,000. Institutional investors and hedge funds own 87.82% of the company’s stock.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc operates as a beauty company. The company offers cosmetics, including face makeup, eye makeup, lip products, nail products, and cosmetics sets/kits; and skin care products under the e.l.f. brand name. It sells its products through direct-to-consumer channels, which include e-commerce and e.l.f.

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Analyst Recommendations for e.l.f. Beauty (NYSE:ELF)

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