Telsey Advisory Group reaffirmed their outperform rating on shares of Ulta Beauty (NASDAQ:ULTA – Free Report) in a research note published on Friday, Benzinga reports. Telsey Advisory Group currently has a $500.00 price target on the specialty retailer’s stock.
A number of other research firms have also recently commented on ULTA. Robert W. Baird reduced their target price on Ulta Beauty from $625.00 to $525.00 and set an outperform rating on the stock in a research note on Wednesday. Piper Sandler reduced their target price on Ulta Beauty from $595.00 to $505.00 and set an overweight rating on the stock in a research note on Monday, May 20th. Stifel Nicolaus reduced their target price on Ulta Beauty from $565.00 to $475.00 and set a hold rating on the stock in a research note on Tuesday, May 14th. Canaccord Genuity Group reduced their target price on Ulta Beauty from $575.00 to $522.00 and set a buy rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets increased their target price on Ulta Beauty from $485.00 to $540.00 and gave the company a market perform rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $507.30.
Read Our Latest Report on Ulta Beauty
Ulta Beauty Stock Performance
Shares of 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 company has a market capitalization of $18.94 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.36. The business’s fifty day moving average is $424.32 and its 200 day moving average is $470.11.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last issued its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business posted $6.88 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, sell-side analysts forecast that Ulta Beauty will post 26.22 EPS for the current fiscal year.
Ulta Beauty announced that its Board of Directors has approved a stock buyback program on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Insiders Place Their Bets
In other Ulta Beauty news, Director Catherine Ann Halligan sold 500 shares of the firm’s stock in a transaction dated 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 link. In other Ulta Beauty news, Director Catherine Ann Halligan sold 500 shares of the firm’s stock in a transaction dated 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 link. Also, insider Anita Jane Ryan sold 3,102 shares of Ulta Beauty 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 of the company’s stock, valued at $1,420,801.25. The disclosure for this sale can be found here. Insiders sold 24,552 shares of company stock worth $12,920,326 over the last three months. Company insiders own 0.39% of the company’s stock.
Hedge Funds Weigh In On Ulta Beauty
Several large investors have recently made changes to their positions in ULTA. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Ulta Beauty during the fourth quarter valued at approximately $25,000. Loomis Sayles & Co. L P increased its position in shares of Ulta Beauty by 364.3% during the third quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 51 shares in the last quarter. Vima LLC bought a new stake in shares of Ulta Beauty during the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC bought a new stake in shares of Ulta Beauty during the fourth quarter valued at approximately $28,000. Finally, VisionPoint Advisory Group LLC increased its position in shares of Ulta Beauty by 7,300.0% during the third quarter. VisionPoint Advisory Group LLC now owns 74 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.
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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