Ulta Beauty (NASDAQ:ULTA – Get Free Report) was upgraded by stock analysts at Loop Capital from a “hold” rating to a “buy” rating in a report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $540.00 target price on the specialty retailer’s stock. Loop Capital’s price objective points to a potential upside of 21.42% from the stock’s previous close.
Several other equities analysts have also recently commented on the stock. Raymond James cut their target price on shares of Ulta Beauty from $630.00 to $610.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 3rd. Jefferies Financial Group upped their price objective on shares of Ulta Beauty from $587.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Barclays lifted their target price on Ulta Beauty from $583.00 to $612.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. BMO Capital Markets raised their target price on Ulta Beauty from $485.00 to $540.00 and gave the stock a “market perform” rating in a research report on Friday, March 15th. Finally, Stifel Nicolaus increased their price objective on shares of Ulta Beauty from $505.00 to $565.00 and gave the company a “hold” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $575.45.
View Our Latest Research Report on ULTA
Ulta Beauty Trading Down 0.9 %
NASDAQ:ULTA opened at $444.75 on Monday. Ulta Beauty has a 1 year low of $368.02 and a 1 year high of $574.76. The firm’s fifty day simple moving average is $526.20 and its 200 day simple moving average is $465.86. The firm has a market capitalization of $21.47 billion, a PE ratio of 17.07, a PEG ratio of 1.77 and a beta of 1.30.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last announced its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share for the quarter, beating the consensus estimate of $7.49 by $0.59. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.53 billion. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.68 EPS. As a group, analysts anticipate that Ulta Beauty will post 26.81 EPS for the current fiscal year.
Ulta Beauty declared that its board has initiated a share buyback program on Thursday, March 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty retailer to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
Insider Buying and Selling at Ulta Beauty
In other news, Director Catherine Ann Halligan sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total transaction of $263,130.00. Following the completion of the transaction, the director now directly owns 1,665 shares of the company’s stock, valued at approximately $876,222.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Anita Jane Ryan sold 3,102 shares of Ulta Beauty stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the completion of the transaction, the insider now owns 2,705 shares in the company, valued at $1,420,801.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Catherine Ann Halligan sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total value of $263,130.00. Following the completion of the sale, the director now owns 1,665 shares in the company, valued at approximately $876,222.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,552 shares of company stock worth $12,920,326. Corporate insiders own 0.34% of the company’s stock.
Institutional Investors Weigh In On Ulta Beauty
Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Ulta Beauty by 125.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,530,543 shares of the specialty retailer’s stock valued at $717,932,000 after purchasing an additional 852,258 shares during the last quarter. Morgan Stanley raised its holdings in Ulta Beauty by 56.7% in the 3rd quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock valued at $614,568,000 after acquiring an additional 556,809 shares during the period. Norges Bank bought a new stake in shares of Ulta Beauty during the fourth quarter worth approximately $263,192,000. Voya Investment Management LLC grew its position in shares of Ulta Beauty by 405.9% in the fourth quarter. Voya Investment Management LLC now owns 631,477 shares of the specialty retailer’s stock valued at $309,417,000 after purchasing an additional 506,645 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Ulta Beauty during the second quarter worth approximately $207,721,000. Institutional investors own 90.39% of the company’s stock.
About Ulta Beauty
Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.
Further Reading
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