e.l.f. Beauty (NYSE:ELF) Shares Down 3.4% After Analyst Downgrade (2024)

e.l.f. Beauty, Inc. (NYSE:ELF – Get Free Report) shares traded down 3.4% on Monday after Stifel Nicolaus lowered their price target on the stock from $167.00 to $151.00. Stifel Nicolaus currently has a hold rating on the stock. e.l.f. Beauty traded as low as $151.54 and last traded at $153.00. 221,972 shares changed hands during trading, a decline of 85% from the average session volume of 1,514,988 shares. The stock had previously closed at $158.45.

ELF has been the subject of a number of other research reports. Robert W. Baird began coverage on shares of e.l.f. Beauty in a report on Tuesday, January 30th. They set a “neutral” rating and a $185.00 price objective for the company. Truist Financial upped their price target on shares of e.l.f. Beauty from $150.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Morgan Stanley upped their price target on shares of e.l.f. Beauty from $168.00 to $184.00 and gave the company an “equal weight” rating in a 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. Finally, TD Cowen upgraded shares of e.l.f. Beauty from a “hold” rating to a “buy” rating and reduced their price target for the company from $220.00 to $190.00 in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $182.00.

Check Out Our Latest Analysis on ELF

Insider Activity

In related news, CEO Tarang Amin sold 23,519 shares of the firm’s 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 transaction, the chief executive officer now directly owns 10,889 shares of the company’s stock, valued at $2,165,713.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Joshua Allen Franks sold 727 shares of the firm’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 value of $120,071.32. Following the sale, the senior vice president now directly owns 83,736 shares in the company, valued at approximately $13,829,837.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Tarang Amin sold 23,519 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, 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 have sold 201,600 shares of company stock valued at $34,307,124 over the last ninety days. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of e.l.f. Beauty by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 6,050,649 shares of the company’s stock valued at $873,351,000 after acquiring an additional 79,701 shares in the last quarter. Wellington Management Group LLP grew its position in e.l.f. Beauty by 5.2% in the 4th quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock valued at $366,744,000 after purchasing an additional 126,231 shares during the period. Invesco Ltd. grew its position in e.l.f. Beauty by 15.3% in the 3rd quarter. Invesco Ltd. now owns 1,497,707 shares of the company’s stock valued at $164,493,000 after purchasing an additional 198,235 shares during the period. William Blair Investment Management LLC boosted its holdings in e.l.f. Beauty by 58.2% during the 3rd quarter. William Blair Investment Management LLC now owns 1,424,268 shares of the company’s stock worth $156,427,000 after acquiring an additional 523,903 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in e.l.f. Beauty by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 952,863 shares of the company’s stock worth $137,538,000 after acquiring an additional 7,999 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 2.9 %

The company has a current ratio of 1.50, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $8.54 billion, a PE ratio of 68.06, a P/E/G ratio of 1.49 and a beta of 1.60. The stock’s fifty day simple moving average is $175.83 and its 200-day simple moving average is $158.94.

e.l.f. Beauty Company Profile

(Get Free Report)

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.

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