Following the end of the pandemic, consumers returned to in-person office work and resumed attending large social functions such as weddings and happy hours at bars. Meanwhile, Americans took many more vacations than before the pandemic. Because people usually want to look their best when they’re socializing with other individuals, these trends were wonderful for companies that specialize in marketing beauty products such as makeup, skin care products, and hair care products. 

In the first half of the year, the revenue generated by U.S. beauty offerings climbed by double-digit percentages versus the same period a year earlier. While these trends have slowed, the travel sector is still thriving. Many companies have recently increased the number of days that their employees must work at their offices. That means more people will want to look their best more often. These are some of the top beauty stocks to buy.

e.l.f. Beauty (ELF)

e.l.f. Beauty (NYSE:ELF), which markets cosmetics, is growing incredibly rapidly and is very profitable. Last quarter, its revenue soared 76% versus the same period a year earlier to $215.5 million. Further, its EBITDA, excluding certain items, soared 122% year-over-year to $60.4 million, while its gross margin was a very high 71%. 

The company believes that it can double its share of the U.S. cosmetics market “over the next few years” by partnering with additional retailers, CEO Tarang Amin reported. Its skincare business is growing incredibly rapidly, as the segment’s revenue “grew 129% in tracked channels,” the CEO reported. 

In Q2, institutions bought 8.9 million shares of the company’s stock and sold only 5.78 million of its shares. 

Ulta Beauty (ULTA)

Cosmetics retailer Ulta Beauty (NASDAQ:ULTA) is generating very impressive growth, considering that it focuses on operating brick-and-mortar stores.

In the second quarter, its comparable sales jumped 8% versus Q2 of 2022, while its operating income soared 15.5% year-over-year to $391.6 million. 

Also impressively, traffic at the company’s stores rose by double-digit-percentage levels in Q2.

Meanwhile, Ahoy Alpha, a Seeking Alpha columnist, believes that the firm can get a big boost in the near-to-medium term by announcing that it is entering international markets. 

Given Ulta’s very strong growth, its forward price-to-earnings ratio of 15.5 is extremely low. 

Coty (COTY)

The owner of “more than 50 cosmetic, skincare, and fragrance brands,” Coty (NYSE:COTY) recently reported very strong financial results for its quarter that ended in September. 

Specifically, its top line climbed 18% versus the same period a year earlier while its free cash flow soared 41% year-over-year to $124 million. 

Meanwhile, investment bank Raymond James believes that COTY stock can advance significantly during the holiday season when it typically does very well. Noting that Coty raised its guidance “four times during” its current fiscal year, the bank thinks that the company can do so again by early next year. 

Moreover, one of the company’s directors bought 500,000 shares of its stock last month for $5.4 million, showing confidence in its outlook.

Given Coty’s high growth and positive outlook, the stock’s forward price-to-earnings ratio of 25 is quite attractive, making it one of the top beauty stocks to buy. 

On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.