Ulta Magnificence (NASDAQ:ULTA) Given New $425.00 Value Goal at Financial institution of America

Daily SF NewsMay 29, 2024

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Ulta Beauty (NASDAQ:ULTA – Free Report) had its price target trimmed by Bank of America from $575.00 to $425.00 in a report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the specialty retailer’s stock.

Several other brokerages also recently weighed in on ULTA. Robert W. Baird increased their target price on Ulta Beauty from $575.00 to $625.00 and gave the company an outperform rating in a research note on Friday, March 15th. DA Davidson reiterated a buy rating and issued a $595.00 price objective on shares of Ulta Beauty in a research report on Friday, March 15th. Wells Fargo & Company reduced their price objective on Ulta Beauty from $450.00 to $350.00 and set an underweight rating for the company in a research report on Wednesday, April 24th. Telsey Advisory Group reduced their price objective on Ulta Beauty from $600.00 to $500.00 and set an outperform rating for the company in a research report on Friday, May 24th. Finally, BMO Capital Markets raised their price objective 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ulta Beauty presently has a consensus rating of Moderate Buy and a consensus price target of $522.91.

Check Out Our Latest Stock Report on Ulta Beauty

Ulta Beauty Stock Performance

ULTA opened at $381.13 on Tuesday. The stock has a 50-day moving average of $432.50 and a 200-day moving average of $471.32. Ulta Beauty has a 52-week low of $368.02 and a 52-week high of $574.76. The company has a market cap of $18.27 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.59 and a beta of 1.36.

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. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the company earned $6.68 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts predict that Ulta Beauty will post 26.35 earnings per share for the current year.

Ulta Beauty declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 14th that allows the company to repurchase $2.00 billion in 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 generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Ulta Beauty

In other news, COO Kecia Steelman sold 20,950 shares of Ulta Beauty stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total value of $11,027,870.50. Following the completion of the sale, the chief operating officer now directly owns 10,494 shares of the company’s stock, valued at approximately $5,523,936.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Kecia Steelman sold 20,950 shares of Ulta Beauty stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total value of $11,027,870.50. Following the completion of the sale, the chief operating officer now directly owns 10,494 shares of the company’s stock, valued at approximately $5,523,936.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Catherine Ann Halligan sold 500 shares of Ulta Beauty stock in a transaction 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 of the company’s stock, valued at $876,222.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,552 shares of company stock worth $12,920,326. 0.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ulta Beauty

Institutional investors have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ulta Beauty during the fourth quarter worth $25,000. Vima LLC acquired a new stake in shares of Ulta Beauty during the fourth quarter worth $27,000. Riverview Trust Co acquired a new stake in shares of Ulta Beauty during the first quarter worth $30,000. BKM Wealth Management LLC acquired a new stake in shares of Ulta Beauty during the fourth quarter worth $28,000. Finally, Sound Income Strategies LLC grew 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 acquiring an additional 49 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Ulta Beauty Company Profile

(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.