Ulta Beauty (NASDAQ:ULTA – Free Report) had its price target reduced by Piper Sandler from $665.00 to $595.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the specialty retailer’s stock.
ULTA has been the subject of several other research reports. Barclays lifted their price objective on Ulta Beauty from $583.00 to $612.00 and gave the company an overweight rating in a research note on Friday, March 15th. Oppenheimer decreased their price objective on Ulta Beauty from $600.00 to $500.00 and set an outperform rating for the company in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Ulta Beauty from $574.00 to $627.00 in a research note on Friday, March 15th. Morgan Stanley lifted their price objective on Ulta Beauty from $480.00 to $525.00 and gave the company an equal weight rating in a research note on Friday, March 15th. Finally, UBS Group lifted their price objective on Ulta Beauty from $575.00 to $690.00 and gave the company a buy rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $571.95.
View Our Latest Report on Ulta Beauty
Ulta Beauty Price Performance
NASDAQ ULTA opened at $454.80 on Tuesday. The company has a market cap of $21.95 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.77 and a beta of 1.30. The stock has a 50-day moving average of $524.02 and a two-hundred day moving average of $466.60. Ulta Beauty has a 1-year low of $368.02 and a 1-year high of $574.76.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released 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 company 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%. Ulta Beauty’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $6.68 EPS. On average, analysts anticipate that Ulta Beauty will post 26.81 EPS for the current fiscal year.
Ulta Beauty announced that its Board of Directors has authorized a share buyback plan on Thursday, March 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling at Ulta Beauty
In other Ulta Beauty news, Director Catherine Ann Halligan sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was 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 $876,222.90. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Ulta Beauty news, Director Catherine Ann Halligan sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was 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 $876,222.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $1,629,325.50. Following the completion of the sale, the insider now 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 sold 24,552 shares of company stock worth $12,920,326. 0.34% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of ULTA. Prudential PLC acquired a new position in shares of Ulta Beauty in the first quarter valued at approximately $425,000. Vanguard Group Inc. increased its holdings in shares of Ulta Beauty by 0.7% in the first quarter. Vanguard Group Inc. now owns 5,886,434 shares of the specialty retailer’s stock valued at $2,344,096,000 after purchasing an additional 40,190 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Ulta Beauty by 2.8% in the first quarter. Baird Financial Group Inc. now owns 8,299 shares of the specialty retailer’s stock valued at $3,305,000 after purchasing an additional 223 shares during the period. Loomis Sayles & Co. L P increased its holdings in shares of Ulta Beauty by 38.6% in the first quarter. Loomis Sayles & Co. L P now owns 1,117 shares of the specialty retailer’s stock valued at $444,000 after purchasing an additional 311 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Ulta Beauty by 59.1% in the first quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.
About Ulta Beauty
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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