Ulta Beauty (NASDAQ:ULTA – Free Report) had its price target decreased by Piper Sandler from $505.00 to $498.00 in a research note issued to investors on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the specialty retailer’s stock.
Other equities analysts also recently issued research reports about the stock. TD Cowen cut their price target on shares of Ulta Beauty from $580.00 to $520.00 and set a buy rating for the company in a report on Thursday, April 18th. Morgan Stanley increased their price target on shares of Ulta Beauty from $480.00 to $525.00 and gave the company an equal weight rating in a report on Friday, March 15th. Robert W. Baird dropped their target price on shares of Ulta Beauty from $625.00 to $525.00 and set an outperform rating for the company in a report on Wednesday. Raymond James dropped their target price 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, April 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Ulta Beauty from $450.00 to $350.00 and set an underweight rating for the company in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $507.30.
View Our Latest Research Report on ULTA
Ulta Beauty Stock Up 2.5 %
Shares of ULTA opened at $395.09 on Friday. The company has a 50-day simple moving average of $424.32 and a 200-day simple moving average of $470.11. The company has a market capitalization of $18.94 billion, a PE ratio of 15.41, a P/E/G ratio of 1.63 and a beta of 1.36. Ulta Beauty has a 52-week low of $368.02 and a 52-week high of $574.76.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last announced its quarterly earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.19 by $0.28. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.72 billion. Ulta Beauty had a net margin of 11.13% and a return on equity of 59.30%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $6.88 EPS. On average, research analysts anticipate that Ulta Beauty will post 26.22 EPS for the current year.
Ulta Beauty announced that its Board of Directors has approved a share 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 purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling
In related news, Director Catherine Ann Halligan sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total value of $263,130.00. Following the sale, the director now directly owns 1,665 shares of the company’s stock, valued at $876,222.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Anita Jane Ryan sold 3,102 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 2,705 shares of the company’s stock, valued at $1,420,801.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Catherine Ann Halligan sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 24,552 shares of company stock valued at $12,920,326. Insiders own 0.39% of the company’s stock.
Institutional Investors Weigh In On Ulta Beauty
Several hedge funds have recently modified their holdings of ULTA. Turtle Creek Wealth Advisors LLC acquired a new position in Ulta Beauty during the fourth quarter valued at approximately $25,000. Loomis Sayles & Co. L P lifted its position in 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 buying an additional 51 shares in the last quarter. Vima LLC acquired a new position in Ulta Beauty during the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new position in Ulta Beauty during the fourth quarter valued at approximately $28,000. Finally, VisionPoint Advisory Group LLC lifted its position in 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 buying an additional 73 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.
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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