e.l.f. Beauty (NYSE:ELF) Hits New 52-Week Low After Analyst Downgrade

e.l.f. Beauty (NYSE:ELF) hit a new 52-week low during mid-day trading on Tuesday after Piper Sandler lowered their price target on the stock from $85.00 to $60.00. Piper Sandler currently has a neutral rating on the stock. e.l.f. Beauty traded as low as $52.40 and last traded at $52.7830, with a volume of 710456 shares changing hands. The stock had previously closed at $54.86.

ELF has been the subject of several other reports. Canaccord Genuity Group decreased their price objective on e.l.f. Beauty from $121.00 to $100.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $67.00 target price (down from $80.00) on shares of e.l.f. Beauty in a report on Friday, May 1st. Robert W. Baird reduced their price target on shares of e.l.f. Beauty from $115.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Wall Street Zen upgraded shares of e.l.f. Beauty from a “sell” rating to a “hold” rating in a research note on Saturday, January 24th. Finally, UBS Group dropped their price objective on shares of e.l.f. Beauty from $102.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, e.l.f. Beauty has an average rating of “Moderate Buy” and an average price target of $99.06.

Insiders Place Their Bets

In other news, SVP Joshua Allen Franks sold 23,535 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was 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 in the company, valued at $7,516,399.86. This represents a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mandy J. Fields sold 23,656 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $63.66, for a total value of $1,505,940.96. Following the sale, the insider directly owned 77,437 shares of the company’s stock, valued at approximately $4,929,639.42. This represents a 23.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 210,013 shares of company stock valued at $13,315,490. 3.90% of the stock is owned by company insiders.

Institutional Trading of e.l.f. Beauty

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in e.l.f. Beauty by 97.0% during the second 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. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 valued at $39,000 after purchasing an additional 117 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in e.l.f. Beauty during the 4th quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. increased its position in e.l.f. Beauty by 29.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 384 shares of the company’s stock worth $52,000 after purchasing an additional 87 shares during the period. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of e.l.f. Beauty during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Trading Down 3.9%

The company has a current ratio of 2.76, a quick ratio of 1.89 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average price of $65.76 and a 200-day moving average price of $77.48. The firm has a market capitalization of $3.11 billion, a PE ratio of 29.91, a P/E/G ratio of 3.47 and a beta of 1.71.

About e.l.f. Beauty

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.