Ulta Magnificence, Inc. (NASDAQ:ULTA) Receives Consensus Suggestion of “Average Purchase” from Brokerages
Shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Get Free Report) have been given an average rating of “Moderate Buy” by the nineteen ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $575.45.
ULTA has been the subject of a number of research reports. UBS Group upped their price objective on shares of Ulta Beauty from $575.00 to $690.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Oppenheimer decreased their price objective on Ulta Beauty from $600.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday. DA Davidson reissued a “buy” rating and issued a $595.00 target price on shares of Ulta Beauty in a research note on Friday, March 15th. Robert W. Baird raised their price target on Ulta Beauty from $575.00 to $625.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Finally, Jefferies Financial Group lifted their price target on Ulta Beauty from $587.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday, March 15th.
Check Out Our Latest Analysis on ULTA
Ulta Beauty Price Performance
Shares of ULTA opened at $448.64 on Friday. Ulta Beauty has a 1-year low of $368.02 and a 1-year high of $574.76. The company has a market capitalization of $21.66 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.05 and a beta of 1.30. The firm’s 50 day simple moving average is $528.07 and its 200 day simple moving average is $464.97.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released 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 return on equity of 61.64% and a net margin of 11.52%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the prior 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, equities analysts anticipate that Ulta Beauty will post 26.94 earnings per share for the current year.
Ulta Beauty announced that its board has authorized a stock repurchase program on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Insider Activity at Ulta Beauty
In other 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 value of $1,629,325.50. Following the completion of the transaction, the insider now owns 2,705 shares of the company’s stock, valued at approximately $1,420,801.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Catherine Ann Halligan sold 500 shares of Ulta Beauty 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 directly owns 1,665 shares in the company, valued at $876,222.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anita Jane Ryan sold 3,102 shares of the 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 transaction, the insider now owns 2,705 shares in the company, valued at approximately $1,420,801.25. The disclosure for this sale can be found here. Insiders sold a total of 24,552 shares of company stock valued at $12,920,326 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.
Institutional Investors Weigh In On Ulta Beauty
A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in Ulta Beauty by 125.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,530,543 shares of the specialty retailer’s stock worth $717,932,000 after acquiring an additional 852,258 shares during the period. Morgan Stanley raised its position in shares of Ulta Beauty by 56.7% during the 3rd quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock valued at $614,568,000 after purchasing an additional 556,809 shares during the period. Norges Bank purchased a new position in shares of Ulta Beauty during the 4th quarter valued at $263,192,000. Voya Investment Management LLC boosted its holdings in Ulta Beauty by 405.9% in the 4th quarter. Voya Investment Management LLC now owns 631,477 shares of the specialty retailer’s stock worth $309,417,000 after buying an additional 506,645 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Ulta Beauty in the 2nd quarter worth $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.
Featured Articles
Receive News & Ratings for Ulta Beauty Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Ulta Beauty and related companies with MarketBeat.com’s FREE daily email newsletter.
