Why Did Oppenheimer Upgrade The Estée Lauder Companies’ Stock?

In a report released today, Rupesh Parikh from Oppenheimer upgraded The Estée Lauder Companies (ELResearch Report) to Buy, with a price target of $250.00. The company’s shares closed last Friday at $219.66, close to its 52-week high of $235.84.

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 13.6% and a 60.9% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, United Natural Foods, and Albertsons Companies.

Currently, the analyst consensus on The Estée Lauder Companies is a Moderate Buy with an average price target of $232.00, representing a 4.7% upside. In a report issued on October 21, Piper Sandler also maintained a Buy rating on the stock with a $236.00 price target.

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The company has a one-year high of $235.84 and a one-year low of $137.01. Currently, The Estée Lauder Companies has an average volume of 1.11M.

Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EL in relation to earlier this year. Most recently, in September 2020, Barry Sternlicht, a Director at EL sold 15,000 shares for a total of $2,355,250.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

The Estée Lauder Companies, Inc. engages in the manufacturing of skin care, makeup, fragrance and hair care products. It sells products under the following brand names: Estée Lauder, Clinique, Origins, MžAžC, Bobbi Brown, La Mer, Jo Malone London, Aveda, and Too Faced. Its channels primarily consist of department stores, specialty multi-brand retailers, upscale perfumeries and pharmacies, and prestige salons and spas. The company was founded by Estée Lauder and Joseph Lauder in 1946 and is headquartered in New York, NY.