e.l.f. Beauty, Inc. (ELF): Substantial Growth and Margins Ahead - Cowen

November 11, 2016 6:50 AM EST
Get Alerts ELF Hot Sheet
Price: $28.60 -0.83%

Rating Summary:
    5 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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Cowen analyst, Oliver Chen, reiterated his Outperform rating on e.l.f. Beauty (NYSE: ELF) after inventory and gross margin began moving in the right direction with AURs increasing as unproductive SKUs are eliminated.

ELF's growth story remains in its infancy, given the substantial addressable market (~2.3% market share currently) in a growing category with a highly engaged consumer base. The analyst is encouraged by prospects for top-line growth driven by innovation and recently launched loyalty program, and opportunity for long-term margin expansion via "sweeten the mix" initiatives.

No change to the $32 PT.

For an analyst ratings summary and ratings history on e.l.f. Beauty click here. For more ratings news on e.l.f. Beauty click here.

Shares of e.l.f. Beauty closed at $25.92 yesterday.

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