Benzinga | Jan 20, 2021 01:20PM EST

Why Estee Lauder's Stock Is Moving Today

Estee Lauder Companies Inc (NYSE:EL) shares are trading lower Wednesday after Bernstein initiated coverage on the stock with an Outperform rating and a price target of $311 per share.

Estee Lauder is a company in providing products for the beauty market, participating across skincare (45% of 2019 sales), makeup (39%), fragrance (12%), and haircare (4%) categories, with popular brands such as Estee Lauder, Clinique, MAC, La Mer, Jo Malone, Aveda, Bobbi Brown, Too Faced, and Origins.

Estee Lauder Companies shares were trading lower at the market open at $250 but have since recovered to the $255 area. The stock has a 52-week high of $267.20 and a 52-week low of $137.01.