Ulta Beauty (NASDAQ:ULTA – Free Report) had its target price cut by Evercore ISI from $630.00 to $500.00 in a report issued on Friday, Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.
Several other research firms also recently issued reports on ULTA. JPMorgan Chase & Co. lifted their price objective on Ulta Beauty from $535.00 to $600.00 and gave the stock an overweight rating in a report on Thursday, February 15th. TD Cowen dropped their price objective on Ulta Beauty from $580.00 to $520.00 and set a buy rating on the stock in a report on Thursday, April 18th. The Goldman Sachs Group lowered their price target on Ulta Beauty from $605.00 to $476.00 and set a neutral rating for the company in a report on Tuesday, May 14th. Canaccord Genuity Group lowered their price target on Ulta Beauty from $575.00 to $522.00 and set a buy rating for the company in a report on Wednesday. Finally, UBS Group boosted their price target on Ulta Beauty from $575.00 to $690.00 and gave the company a buy rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $507.30.
Get Our Latest Stock Report on Ulta Beauty
Ulta Beauty Stock Up 2.5 %
ULTA stock opened at $395.09 on Friday. Ulta Beauty has a 52-week low of $368.02 and a 52-week high of $574.76. The stock’s 50 day moving average is $424.32 and its two-hundred day moving average is $470.11. The company has a market capitalization of $18.94 billion, a PE ratio of 15.41, a P/E/G ratio of 1.63 and a beta of 1.36.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last posted its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.19 by $0.28. Ulta Beauty had a return on equity of 59.30% and a net margin of 11.13%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the previous year, the business earned $6.88 EPS. Ulta Beauty’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ulta Beauty will post 26.22 EPS for the current year.
Ulta Beauty declared that its Board of Directors has initiated a share buyback program on Thursday, March 14th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
Insiders Place Their Bets
In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the completion of the transaction, the insider now owns 2,705 shares in the company, valued at approximately $1,420,801.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Catherine Ann Halligan sold 500 shares of the company’s stock in a transaction 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 legal filing with the SEC, which is available at this link. Also, insider Anita Jane Ryan sold 3,102 shares of the company’s stock in a transaction 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. In the last quarter, insiders sold 24,552 shares of company stock worth $12,920,326. 0.39% of the stock is owned by company insiders.
Institutional Trading of Ulta Beauty
Several institutional investors have recently modified their holdings of the company. Boston Partners lifted its holdings in shares of Ulta Beauty by 47.7% in the first quarter. Boston Partners now owns 476,027 shares of the specialty retailer’s stock valued at $246,862,000 after buying an additional 153,727 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Ulta Beauty by 18.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 64,588 shares of the specialty retailer’s stock valued at $33,772,000 after buying an additional 10,068 shares during the period. Cetera Advisors LLC lifted its holdings in shares of Ulta Beauty by 201.3% during the first quarter. Cetera Advisors LLC now owns 4,134 shares of the specialty retailer’s stock valued at $2,162,000 after purchasing an additional 2,762 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Ulta Beauty by 34.3% in the 1st quarter. Cetera Investment Advisers now owns 13,471 shares of the specialty retailer’s stock valued at $7,044,000 after purchasing an additional 3,443 shares during the period. Finally, Swedbank AB acquired a new position in shares of Ulta Beauty in the 1st quarter valued at $60,668,000. Institutional investors and hedge funds own 90.39% of the company’s stock.
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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