BlackRock Fund Advisors recently announced the acquisition of new stake in e.l.f. Beauty Inc. (NYSE:ELF). The institutional investor has increased its shareholding in the Consumer Defensive company by 12.04% to 7.61 million shares with purchase of 0.82 million shares. This fresh investment now brings its stake to 14.28% valued currently at $569.0 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.28 million to 6.3 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.09% or 17468.0 shares – to 1.62 million shares.
With over 1.59 million e.l.f. Beauty Inc. (ELF) shares trading Monday and a closing price of $69.58 on the day, the dollar volume was approximately $110.39 million. The shares have shown a positive half year performance of 78.96% and its price on 03/13/23 gained nearly 0.01%. Currently, there are 52.71M common shares owned by the public and among those 50.07M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for ELF have a consensus price objective of $72.55. The analysts have set the share’s price value over the next 12 months at a high of $82.00 and a low of $57.00. The average price target is 3.76% above its recent price level and a downside to the estimated low will see the stock lose -22.07% over that period. But an upside of 15.15% will see the stock hit the forecast high price target while median target price for the stock is $75.00.
Insiders at the company have transacted a total of 162 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 896,002 shares. Insider sales of the common stock occurred on 130 occasions, with total insider shares sold totaling 1,588,091 shares.
The top 3 mutual fund holders in e.l.f. Beauty Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 3.82 million shares of the company’s stock, all valued at over $285.31 million. The company bought an additional 7852.0 shares recently to bring their total holdings to about 7.16% of the shares outstanding. Vanguard Total Stock Market Index bought 18331.0 shares to see its total holdings expand to 1.54 million shares valued at over $114.94 million and representing 2.89% of the shares outstanding. Vanguard Small Cap Index Fund bought 7102.0 shares to bring its total holdings to over 1.3 million shares at a value of $97.39 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.44% of the shares outstanding.
Shares of e.l.f. Beauty Inc. (NYSE: ELF) opened at $68.36, down -$1.21 from a prior closing price of $69.57. However, the script later moved the day high at 70.35, up 0.01%. The company’s stock has a 5-day price change of -3.47% and 26.35% over the past three months. ELF shares are trading 25.82% year to date (YTD), with the 12-month market performance up to 193.59% higher. It has a 12-month low price of $20.49 and touched a high of $76.01 over the same period. ELF has an average intraday trading volume of 867.20K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.21%, 8.45%, and 52.51% respectively.
Institutional ownership of e.l.f. Beauty Inc. (NYSE: ELF) shares accounts for 97.60% of the company’s 52.71M shares outstanding. Mutual fund holders own 41.46%, while other institutional holders and individual stakeholders account for 53.14% and 22.45% respectively.
It has a market capitalization of $3.79B and a beta (3y monthly) value of 1.51. The stock’s trailing 12-month PE ratio is 81.57, while the earnings-per-share (ttm) stands at $0.85. The company has a PEG of 3.06 and a Quick Ratio of 2.10 with the debt-to-equity ratio at 0.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.74% over the week and 3.08% over the month.
Analysts forecast that e.l.f. Beauty Inc. (ELF) will achieve an EPS of $0.17 for the current quarter, $0.44 for the next quarter and $1.58 for 2024. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.27. Comparatively, EPS for the current quarter was $0.13 a year ago. Earnings per share for the fiscal year are expected to increase by 238.50%, and 13.63% over the next financial year. EPS should grow at an annualized rate of 26.70% over the next five years, compared to -1.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate e.l.f. Beauty Inc. (ELF) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 4 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ELF, a number of firms have released research notes about the stock. Raymond James stated their Outperform rating for the stock in a research note on February 02, 2023, with the firm’s price target at $63-$75. JP Morgan coverage for the e.l.f. Beauty Inc. (ELF) stock in a research note released on February 02, 2023 offered a Overweight rating with a price target of $70. DA Davidson was of a view on February 02, 2023 that the stock is Buy, while Canaccord Genuity gave the stock Buy rating on February 02, 2023, issuing a price target of $63- $78. BofA Securities on their part issued Buy rating on February 02, 2023.
