Ulta Magnificence (NASDAQ:ULTA) Value Goal Lower to $585.00 by Analysts at Jefferies Monetary Group
Ulta Beauty (NASDAQ:ULTA – Free Report) had its target price reduced by Jefferies Financial Group from $610.00 to $585.00 in a report published on Wednesday morning, MarketBeat Ratings reports. They currently have a buy rating on the specialty retailer’s stock.
A number of other equities analysts have also weighed in on the company. Raymond James lowered their price objective on Ulta Beauty from $630.00 to $610.00 and set a strong-buy rating on the stock in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their target price on Ulta Beauty from $535.00 to $600.00 and gave the company an overweight rating in a research report on Thursday, February 15th. Stifel Nicolaus lifted their target price on Ulta Beauty from $505.00 to $565.00 and gave the company a hold rating in a research report on Friday, March 15th. Evercore ISI reduced their target price on Ulta Beauty from $656.00 to $635.00 and set an outperform rating on the stock in a research report on Friday, March 15th. Finally, UBS Group lifted their target price on Ulta Beauty from $575.00 to $690.00 and gave the company a buy rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $570.70.
View Our Latest Analysis on Ulta Beauty
Ulta Beauty Price Performance
Shares of NASDAQ:ULTA opened at $450.95 on Wednesday. The business’s 50 day moving average price is $523.00 and its 200-day moving average price is $466.49. The firm has a market capitalization of $21.77 billion, a PE ratio of 17.31, a P/E/G ratio of 1.86 and a beta of 1.30. 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 released its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share for the quarter, topping analysts’ consensus estimates of $7.49 by $0.59. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.53 billion. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.68 earnings per share. As a group, analysts expect that Ulta Beauty will post 26.76 earnings per share for the current year.
Ulta Beauty announced that its Board of Directors has authorized a stock buyback program on Thursday, March 14th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Insiders Place Their Bets
In other news, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total value of $1,629,325.50. Following the transaction, the insider now owns 2,705 shares in the company, valued at approximately $1,420,801.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Anita Jane Ryan sold 3,102 shares of the 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 transaction, the insider now directly owns 2,705 shares of the company’s stock, valued at approximately $1,420,801.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Kecia Steelman sold 20,950 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the completion of the transaction, the chief operating officer now owns 10,494 shares of the company’s stock, valued at approximately $5,523,936.66. The disclosure for this sale can be found here. Insiders have sold a total of 24,552 shares of company stock worth $12,920,326 in the last quarter. 0.34% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in ULTA. Bank of New Hampshire increased its holdings in shares of Ulta Beauty by 12.6% in the 1st quarter. Bank of New Hampshire now owns 3,083 shares of the specialty retailer’s stock valued at $1,612,000 after acquiring an additional 345 shares during the period. Wedmont Private Capital increased its stake in Ulta Beauty by 2.9% in the first quarter. Wedmont Private Capital now owns 993 shares of the specialty retailer’s stock valued at $519,000 after purchasing an additional 28 shares during the period. Fulton Bank N.A. boosted its stake in shares of Ulta Beauty by 0.7% during the first quarter. Fulton Bank N.A. now owns 6,452 shares of the specialty retailer’s stock worth $3,374,000 after buying an additional 46 shares during the period. Mather Group LLC. acquired a new stake in shares of Ulta Beauty during the first quarter worth about $45,000. Finally, Rowlandmiller & PARTNERS.ADV boosted its stake in shares of Ulta Beauty by 27.1% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 890 shares of the specialty retailer’s stock worth $465,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.
About Ulta Beauty
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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