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

e.l.f. Beauty (NYSE:ELF)’s stock price reached a new 52-week low during 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 trading hands. The stock had previously closed at $54.86.

Several other brokerages have also issued reports on ELF. Citigroup reduced their price objective on shares of e.l.f. Beauty from $115.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. TD Cowen dropped their price target on shares of e.l.f. Beauty from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Wall Street Zen raised shares of e.l.f. Beauty from a “sell” rating to a “hold” rating in a research note on Saturday, January 24th. JPMorgan Chase & Co. decreased their price objective on shares of e.l.f. Beauty from $105.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Finally, Weiss Ratings cut shares of e.l.f. Beauty from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, e.l.f. Beauty currently has an average rating of “Moderate Buy” and a consensus target price of $99.06.

Insiders Place Their Bets

In related news, SVP Joshua Allen Franks sold 23,535 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $63.66, for a total value of $1,498,238.10. Following the sale, the senior vice president owned 118,071 shares of the company’s stock, valued at $7,516,399.86. This trade represents a 16.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mandy J. Fields sold 23,656 shares of e.l.f. Beauty 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 $1,505,940.96. Following the completion of the transaction, the insider owned 77,437 shares of the company’s stock, valued at $4,929,639.42. This represents a 23.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 210,013 shares of company stock worth $13,315,490. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in e.l.f. Beauty by 9.9% during the first quarter. Royal Bank of Canada now owns 153,682 shares of the company’s stock worth $9,650,000 after purchasing an additional 13,851 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in e.l.f. Beauty by 168.6% in the first quarter. Integrated Wealth Concepts LLC now owns 6,483 shares of the company’s stock valued at $407,000 after purchasing an additional 4,069 shares during the last quarter. NewEdge Advisors LLC raised its holdings in e.l.f. Beauty by 176.4% during the first quarter. NewEdge Advisors LLC now owns 4,677 shares of the company’s stock worth $294,000 after purchasing an additional 2,985 shares in the last quarter. United Services Automobile Association acquired a new stake in e.l.f. Beauty during the first quarter worth approximately $240,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of e.l.f. Beauty by 58.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock worth $39,000 after buying an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 3.9%

The firm’s 50-day moving average price is $65.76 and its two-hundred day moving average price is $77.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.89 and a current ratio of 2.76. The firm has a market cap 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.