Ulta Beauty (NASDAQ:ULTA – Free Report) had its price target cut by Oppenheimer from $600.00 to $500.00 in a report released on Thursday, MarketBeat Ratings reports. They currently have an outperform rating on the specialty retailer’s stock.
A number of other equities analysts also recently issued reports on ULTA. BMO Capital Markets increased their price target on shares of Ulta Beauty from $485.00 to $540.00 and gave the company a market perform rating in a report on Friday, March 15th. UBS Group increased their price target on shares of Ulta Beauty from $575.00 to $690.00 and gave the company a buy rating in a report on Tuesday, March 5th. Wells Fargo & Company increased their price target on shares of Ulta Beauty from $400.00 to $450.00 and gave the company an underweight rating in a report on Friday, March 15th. Barclays increased their price target on shares of Ulta Beauty from $583.00 to $612.00 and gave the company an overweight rating in a report on Friday, March 15th. Finally, Raymond James cut their price target on shares of Ulta Beauty from $630.00 to $610.00 and set a strong-buy rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $575.45.
View Our Latest Stock Analysis on ULTA
Ulta Beauty Stock Performance
Shares of ULTA opened at $448.64 on Thursday. The stock has a market capitalization of $21.66 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.74 and a beta of 1.30. The company’s fifty day moving average is $528.07 and its two-hundred day moving average is $464.97. Ulta Beauty has a 1 year low of $368.02 and a 1 year high of $574.76.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last announced its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.49 by $0.59. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. Ulta Beauty’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $6.68 EPS. Sell-side analysts predict that Ulta Beauty will post 26.94 EPS for the current year.
Ulta Beauty declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling at Ulta Beauty
In other news, 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 sale, the insider now owns 2,705 shares in the company, valued at $1,420,801.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Catherine Ann Halligan sold 500 shares of Ulta Beauty stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total transaction of $263,130.00. Following the sale, the director now owns 1,665 shares in the company, valued at $876,222.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the insider now owns 2,705 shares in the company, valued at approximately $1,420,801.25. The disclosure for this sale can be found here. Insiders have sold a total of 24,552 shares of company stock valued at $12,920,326 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.
Institutional Trading of Ulta Beauty
Hedge funds have recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Ulta Beauty during the fourth quarter valued at approximately $25,000. Coppell Advisory Solutions LLC bought a new stake in shares of Ulta Beauty in the second quarter worth $26,000. Vima LLC bought a new stake in shares of Ulta Beauty in the fourth quarter worth $27,000. Fortis Capital Advisors LLC bought a new stake in shares of Ulta Beauty in the first quarter worth $31,000. Finally, Ancora Advisors LLC bought a new stake in shares of Ulta Beauty in the first quarter worth $31,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.
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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