Ulta Beauty (NASDAQ:ULTA – Free Report) had its target price trimmed by Robert W. Baird from $625.00 to $525.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the specialty retailer’s stock.
ULTA has been the topic of a number of other reports. UBS Group raised their target price on shares of Ulta Beauty from $575.00 to $690.00 and gave the company a buy rating in a report on Tuesday, March 5th. Bank of America cut their price objective on Ulta Beauty from $575.00 to $425.00 and set a neutral rating for the company in a research report on Tuesday. Piper Sandler lowered their target price on Ulta Beauty from $595.00 to $505.00 and set an overweight rating on the stock in a report on Monday, May 20th. Barclays cut Ulta Beauty from an overweight rating to an equal weight rating and cut their price target for the stock from $612.00 to $434.00 in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. increased their price objective on Ulta Beauty from $535.00 to $600.00 and gave the company an overweight rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ulta Beauty presently has an average rating of Moderate Buy and a consensus target price of $518.52.
Read Our Latest Stock Report on ULTA
Ulta Beauty Stock Performance
Shares of NASDAQ ULTA opened at $378.28 on Wednesday. Ulta Beauty has a one year low of $368.02 and a one year high of $574.76. The firm has a market capitalization of $18.13 billion, a P/E ratio of 14.52, a PEG ratio of 1.59 and a beta of 1.36. The company’s fifty day moving average is $429.58 and its two-hundred day moving average is $470.66.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, topping analysts’ consensus estimates of $7.49 by $0.59. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the previous year, the firm earned $6.68 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Ulta Beauty will post 26.35 earnings per share for the current fiscal year.
Ulta Beauty declared that its board has approved a stock buyback plan on Thursday, March 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Insider Activity at Ulta Beauty
In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the completion of the sale, the insider now directly owns 2,705 shares in the company, valued at $1,420,801.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ulta Beauty news, Director Catherine Ann Halligan sold 500 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total value of $263,130.00. Following the transaction, the director now directly owns 1,665 shares of the company’s stock, valued at $876,222.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anita Jane Ryan sold 3,102 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total value of $1,629,325.50. Following the completion of the sale, the insider now directly owns 2,705 shares of the company’s stock, valued at approximately $1,420,801.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,552 shares of company stock worth $12,920,326. Company insiders own 0.39% of the company’s stock.
Hedge Funds Weigh In On Ulta Beauty
Several hedge funds and other institutional investors have recently bought and sold shares of ULTA. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Ulta Beauty during the fourth quarter valued at approximately $25,000. Loomis Sayles & Co. L P increased its stake in Ulta Beauty by 364.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer’s stock worth $26,000 after buying an additional 51 shares during the period. Vima LLC acquired a new position in Ulta Beauty in the 4th quarter worth $27,000. BKM Wealth Management LLC acquired a new position in Ulta Beauty in the 4th quarter worth $28,000. Finally, VisionPoint Advisory Group LLC boosted its position in Ulta Beauty by 7,300.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 74 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 73 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.
Ulta Beauty Company Profile
Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.
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