Ulta Magnificence, Inc. (NASDAQ:ULTA) Given Common Suggestion of “Reasonable Purchase” by Brokerages

Daily SF NewsMay 25, 2024

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Shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the twenty-one brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $525.86.

A number of equities analysts have weighed in on the stock. Raymond James cut their price target on shares of Ulta Beauty from $630.00 to $610.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 3rd. Telsey Advisory Group decreased their price objective on shares of Ulta Beauty from $600.00 to $500.00 and set an “outperform” rating for the company in a report on Friday. Piper Sandler decreased their price objective on shares of Ulta Beauty from $595.00 to $505.00 and set an “overweight” rating for the company in a report on Monday, May 20th. BMO Capital Markets raised their price target on shares of 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, Wells Fargo & Company cut their price objective on shares of Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 24th.

Read Our Latest Stock Report on ULTA

Ulta Beauty Stock Up 1.5 %

NASDAQ:ULTA opened at $381.78 on Friday. The company has a market cap of $18.30 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.36. The company has a fifty day simple moving average of $438.47 and a two-hundred day simple moving average of $470.35. Ulta Beauty has a 52 week low of $368.02 and a 52 week high of $574.76.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last announced its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating 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 business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the company earned $6.68 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. On average, analysts expect that Ulta Beauty will post 26.59 EPS for the current year.

Ulta Beauty announced that its board has approved a stock repurchase program on Thursday, March 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Ulta Beauty

In related news, Director Catherine Ann Halligan sold 500 shares of the company’s stock in a transaction 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 sale, the director now directly owns 1,665 shares of the company’s stock, valued at approximately $876,222.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction dated 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 owns 2,705 shares in the company, valued at approximately $1,420,801.25. The sale 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 stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total transaction of $263,130.00. Following the sale, the director now directly owns 1,665 shares in the company, valued at approximately $876,222.90. The disclosure for this sale can be found here. Insiders sold 24,552 shares of company stock worth $12,920,326 over the last ninety days. 0.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC acquired a new stake in Ulta Beauty during the 4th quarter worth approximately $25,000. Vima LLC bought a new position in shares of Ulta Beauty in the fourth quarter valued at $27,000. Riverview Trust Co bought a new stake in shares of Ulta Beauty in the first quarter valued at about $30,000. BKM Wealth Management LLC bought a new stake in shares of Ulta Beauty in the fourth quarter valued at about $28,000. Finally, Sound Income Strategies LLC raised its stake in Ulta Beauty by 490.0% in the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

About Ulta Beauty

(Get Free Report

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.