Ulta Beauty (NASDAQ:ULTA – Free Report) had its price objective raised by JPMorgan Chase & Co. from $530.00 to $544.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the specialty retailer’s stock.
Several other equities research analysts have also recently weighed in on ULTA. Telsey Advisory Group reissued an outperform rating and issued a $500.00 price target on shares of Ulta Beauty in a research note on Friday. Stifel Nicolaus decreased their price target on Ulta Beauty from $565.00 to $475.00 and set a hold rating for the company in a research note on Tuesday, May 14th. BMO Capital Markets decreased their price target on Ulta Beauty from $540.00 to $500.00 and set a market perform rating for the company in a research note on Friday. Raymond James decreased their price target on Ulta Beauty from $630.00 to $610.00 and set a strong-buy rating for the company in a research note on Wednesday, April 3rd. Finally, Loop Capital raised Ulta Beauty from a hold rating to a buy rating and set a $540.00 price target for the company in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $507.30.
Get Our Latest Stock Report on Ulta Beauty
Ulta Beauty Stock Up 2.5 %
Shares of ULTA opened at $395.09 on Friday. Ulta Beauty has a 12-month low of $368.02 and a 12-month high of $574.76. The business has a 50-day simple moving average of $424.32 and a two-hundred day simple moving average of $470.11. The stock has a market cap of $18.94 billion, a PE ratio of 15.41, a PEG ratio of 1.63 and a beta of 1.36.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last issued its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.19 by $0.28. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Ulta Beauty had a return on equity of 59.30% and a net margin of 11.13%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.88 EPS. On average, equities research analysts expect that Ulta Beauty will post 26.22 EPS for the current year.
Ulta Beauty declared that its board has authorized a share repurchase plan on Thursday, March 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Insider Activity
In related news, COO Kecia Steelman sold 20,950 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total value of $11,027,870.50. Following the sale, the chief operating officer now owns 10,494 shares in the company, valued at approximately $5,523,936.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Kecia Steelman sold 20,950 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the completion of the sale, the chief operating officer now owns 10,494 shares in the company, valued at $5,523,936.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Catherine Ann Halligan sold 500 shares of the firm’s stock in a transaction 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 transaction, the director now owns 1,665 shares in the company, valued at $876,222.90. The disclosure for this sale can be found here. Insiders sold 24,552 shares of company stock worth $12,920,326 over the last three months. 0.39% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Ulta Beauty
A number of institutional investors have recently added to or reduced their stakes in ULTA. Turtle Creek Wealth Advisors LLC bought a new position in shares of Ulta Beauty during the 4th quarter worth approximately $25,000. Vima LLC bought a new stake in Ulta Beauty during the fourth quarter worth $27,000. Riverview Trust Co bought a new stake in Ulta Beauty during the first quarter worth $30,000. BKM Wealth Management LLC purchased a new position in Ulta Beauty in the fourth quarter worth $28,000. Finally, Sound Income Strategies LLC grew its stake in Ulta Beauty by 490.0% in the 1st quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 49 shares during the period. 90.39% of the stock is owned by institutional investors.
Ulta Beauty Company Profile
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.
