e.l.f. Beauty (NYSE:ELF) Lifted to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of e.l.f. Beauty (NYSE:ELF) from an underweight rating to an equal weight rating in a research report released on Tuesday, June 4th, Stock Target Advisor reports. The brokerage currently has $10.50 price target on the stock, up from their prior price target of $6.00.

A number of other research firms also recently commented on ELF. JPMorgan Chase & Co. raised shares of e.l.f. Beauty from an underweight rating to a neutral rating and increased their target price for the company from $7.00 to $13.00 in a research report on Monday, April 8th. Zacks Investment Research raised shares of e.l.f. Beauty from a hold rating to a buy rating and set a $14.00 target price on the stock in a research report on Tuesday, April 30th. Wells Fargo & Co dropped their target price on shares of e.l.f. Beauty from $8.00 to $6.00 and set an underperform rating on the stock in a research report on Wednesday, February 27th. BMO Capital Markets dropped their target price on shares of e.l.f. Beauty from $14.00 to $7.00 and set a market perform rating on the stock in a research report on Wednesday, February 27th. Finally, Jefferies Financial Group raised shares of e.l.f. Beauty from a hold rating to a buy rating and increased their target price for the company from $10.00 to $14.00 in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. e.l.f. Beauty has a consensus rating of Hold and a consensus target price of $11.41.

Shares of NYSE:ELF traded down $0.11 during trading hours on Tuesday, reaching $14.10. The stock had a trading volume of 1,737,793 shares, compared to its average volume of 585,362. The company has a quick ratio of 2.22, a current ratio of 3.30 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $12.00. The stock has a market cap of $707.52 million, a PE ratio of 32.05, a price-to-earnings-growth ratio of 16.24 and a beta of 1.99. e.l.f. Beauty has a 1 year low of $6.70 and a 1 year high of $16.91.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Wednesday, May 8th. The company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). The company had revenue of $66.14 million during the quarter, compared to analysts’ expectations of $56.91 million. e.l.f. Beauty had a negative net margin of 1.15% and a positive return on equity of 8.88%. Equities research analysts anticipate that e.l.f. Beauty will post 0.15 earnings per share for the current fiscal year.

In related news, major shareholder Tpg Growth Ii Advisors, Inc. sold 3,000,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $10.75, for a total transaction of $32,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maureen C. Watson sold 5,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $11.98, for a total transaction of $59,900.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,063,100 shares of company stock valued at $33,065,222. 17.10% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of e.l.f. Beauty by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 98,342 shares of the company’s stock worth $851,000 after acquiring an additional 1,109 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of e.l.f. Beauty in the 1st quarter worth $36,000. PNC Financial Services Group Inc. acquired a new stake in shares of e.l.f. Beauty in the 4th quarter worth $32,000. BNP Paribas Arbitrage SA lifted its stake in shares of e.l.f. Beauty by 862.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,253 shares of the company’s stock worth $56,000 after acquiring an additional 4,707 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of e.l.f. Beauty by 32.5% in the 1st quarter. Victory Capital Management Inc. now owns 21,728 shares of the company’s stock worth $230,000 after acquiring an additional 5,334 shares during the period. Institutional investors own 82.56% of the company’s stock.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc, a beauty company, provides cosmetic and skin care products under the e.l.f. brand name worldwide. The company offers eye, lip, face, and skin care products, as well as kits and tools. It sells its products through national and international retailers and 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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