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.
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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