Shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Get Free Report) 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 changing hands.
A number of other research analysts have also recently commented on ULTA. Citigroup boosted their target price on shares of Ulta Beauty from $440.00 to $485.00 and gave the stock a “neutral” rating in a research report on Friday, December 1st. Argus boosted their target price on shares of Ulta Beauty from $500.00 to $545.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. DA Davidson boosted their target price on shares of Ulta Beauty from $495.00 to $530.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Telsey Advisory Group reissued an “outperform” rating and set a $600.00 target price on shares of Ulta Beauty in a research report on Monday, November 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ulta Beauty from $535.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $546.90.
Read Our Latest Stock Report on Ulta Beauty
Institutional Trading of Ulta Beauty
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Ulta Beauty by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,886,434 shares of the specialty retailer’s stock valued at $2,344,096,000 after purchasing an additional 40,190 shares during the last quarter. BlackRock Inc. increased its stake in Ulta Beauty by 9.5% during the second quarter. BlackRock Inc. now owns 4,236,208 shares of the specialty retailer’s stock valued at $1,993,538,000 after purchasing an additional 367,437 shares during the last quarter. State Street Corp grew its position in shares of Ulta Beauty by 2.3% during the second quarter. State Street Corp now owns 2,043,315 shares of the specialty retailer’s stock worth $961,574,000 after acquiring an additional 45,487 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Ulta Beauty by 0.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,580,071 shares of the specialty retailer’s stock worth $774,220,000 after acquiring an additional 6,094 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Ulta Beauty by 56.7% during the third quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock worth $614,568,000 after acquiring an additional 556,809 shares during the last quarter. Institutional investors own 92.30% of the company’s stock.
Ulta Beauty Stock Down 5.2 %
The firm’s 50-day moving average price is $518.69 and its 200 day moving average price is $455.90. The firm has a market cap of $26.03 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, topping the consensus estimate of $7.49 by $0.59. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.53 billion. Ulta Beauty had a net margin of 11.37% and a return on equity of 61.42%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.68 earnings per share. On average, equities analysts predict that Ulta Beauty, Inc. will post 25.46 earnings per share for the current year.
Ulta Beauty declared that its board has approved a stock repurchase program on Thursday, March 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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.
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