Ulta Beauty, Inc. (NASDAQ:ULTA – Get Free Report)’s share price gapped down before the market opened on Friday after Evercore ISI lowered their price target on the stock from $656.00 to $635.00. The stock had previously closed at $565.44, but opened at $504.00. Ulta Beauty shares last traded at $526.41, with a volume of 585,813 shares.
ULTA has been the subject of several other research reports. UBS Group upped their price target on shares of Ulta Beauty from $575.00 to $690.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Piper Sandler upped their price objective on shares of Ulta Beauty from $540.00 to $572.00 and gave the stock an “overweight” rating in a report on Friday, December 1st. Wells Fargo & Company upped their price objective on shares of Ulta Beauty from $375.00 to $400.00 and gave the stock an “underweight” rating in a report on Friday, December 1st. Citigroup upped their price objective on shares of Ulta Beauty from $440.00 to $485.00 and gave the stock a “neutral” rating in a report on Friday, December 1st. Finally, Argus upped their price objective on shares of Ulta Beauty from $500.00 to $545.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $546.90.
Check Out Our Latest Analysis on ULTA
Hedge Funds Weigh In On Ulta Beauty
A number of hedge funds have recently added to or reduced their stakes in ULTA. Prudential PLC acquired a new position in Ulta Beauty in the first quarter worth approximately $425,000. Vanguard Group Inc. increased its holdings in Ulta Beauty by 0.7% in the first quarter. Vanguard Group Inc. now owns 5,886,434 shares of the specialty retailer’s stock worth $2,344,096,000 after buying an additional 40,190 shares during the last quarter. Baird Financial Group Inc. boosted its position in Ulta Beauty by 2.8% during the first quarter. Baird Financial Group Inc. now owns 8,299 shares of the specialty retailer’s stock worth $3,305,000 after purchasing an additional 223 shares during the period. Loomis Sayles & Co. L P boosted its position in Ulta Beauty by 38.6% during the first quarter. Loomis Sayles & Co. L P now owns 1,117 shares of the specialty retailer’s stock worth $444,000 after purchasing an additional 311 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in Ulta Beauty by 59.1% during the first quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 92.30% of the company’s stock.
Ulta Beauty Stock Down 5.2 %
The stock has a market cap of $26.03 billion, a P/E ratio of 21.74, a PEG ratio of 2.35 and a beta of 1.31. The business has a 50-day simple moving average of $518.69 and a 200-day simple moving average of $455.90.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $7.49 by $0.59. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Ulta Beauty had a return on equity of 61.42% and a net margin of 11.37%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.68 earnings per share. On average, analysts predict that Ulta Beauty, Inc. will post 25.46 earnings per share for the current fiscal year.
Ulta Beauty announced that its Board of Directors has initiated a share 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 reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Ulta Beauty Company Profile
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.
See Also
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.
