Ulta Beauty (NASDAQ:ULTA – Free Report) had its price objective decreased by TD Cowen from $520.00 to $500.00 in a report issued on Friday morning, Benzinga reports. TD Cowen currently has a buy rating on the specialty retailer’s stock.
Several other analysts have also recently issued reports on the company. Citigroup reduced their price objective on Ulta Beauty from $485.00 to $400.00 and set a neutral rating on the stock in a research note on Friday, May 24th. Telsey Advisory Group restated an outperform rating and issued a $500.00 price target on shares of Ulta Beauty in a research note on Friday. Evercore ISI cut their price target on Ulta Beauty from $630.00 to $500.00 and set an outperform rating on the stock in a research note on Friday. Jefferies Financial Group cut their price target on Ulta Beauty from $438.00 to $412.00 and set a hold rating on the stock in a research note on Friday, May 24th. Finally, Morgan Stanley raised their price target on Ulta Beauty from $480.00 to $525.00 and gave the company an equal weight rating in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Ulta Beauty currently has a consensus rating of Moderate Buy and an average target price of $507.30.
Check Out Our Latest Research Report on ULTA
Ulta Beauty Stock Up 2.5 %
ULTA opened at $395.09 on Friday. Ulta Beauty has a 52 week low of $368.02 and a 52 week high of $574.76. The business has a fifty day simple moving average of $424.32 and a 200-day simple moving average of $470.11. The firm has a market cap of $18.94 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.63 and a beta of 1.36.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its quarterly earnings results on Thursday, May 30th. The specialty retailer reported $6.47 EPS for the quarter, topping the consensus estimate of $6.19 by $0.28. Ulta Beauty had a return on equity of 59.30% and a net margin of 11.13%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same period last year, the business posted $6.88 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts expect that Ulta Beauty will post 26.22 earnings per share for the current year.
Ulta Beauty declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Insider Activity at Ulta Beauty
In related news, insider Anita Jane Ryan sold 3,102 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Catherine Ann Halligan sold 500 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total value of $263,130.00. Following the transaction, the director now owns 1,665 shares in the company, valued at approximately $876,222.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anita Jane Ryan sold 3,102 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 24,552 shares of company stock worth $12,920,326 in the last quarter. Company insiders own 0.39% of the company’s stock.
Hedge Funds Weigh In On Ulta Beauty
Institutional investors have recently added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC acquired a new position in Ulta Beauty in the 4th quarter valued at about $25,000. Vima LLC acquired a new position in Ulta Beauty during the 4th quarter worth approximately $27,000. Riverview Trust Co acquired a new position in Ulta Beauty during the 1st quarter worth approximately $30,000. BKM Wealth Management LLC acquired a new position in Ulta Beauty during the 4th quarter worth approximately $28,000. Finally, Sound Income Strategies LLC increased its position in Ulta Beauty by 490.0% during the 1st quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 49 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.
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.
