Contravisory Investment Management Inc. Purchases 1,180 Shares of Ulta Beauty Inc. $ULTA

Key Points

• Contravisory Investment Management Inc. significantly increased its stake in Ulta Beauty Inc. by 23,600.0% during Q2, now owning 1,185 shares valued at approximately $554,000.
• Analysts have a consensus target price of $543.13 for Ulta Beauty, with ratings ranging from Strong Buy to Sell, indicating general market optimism.
• Ulta Beauty reported an EPS of $5.78 for the last quarter, exceeding expectations, and achieved a revenue increase of 9.3% year-over-year.

Contravisory Investment Management Inc. raised its stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 23,600.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,185 shares of the specialty retailer's stock after purchasing an additional 1,180 shares during the period. Contravisory Investment Management Inc.'s holdings in Ulta Beauty were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Chesley Taft & Associates LLC raised its position in Ulta Beauty by 3.0% during the second quarter. Chesley Taft & Associates LLC now owns 834 shares of the specialty retailer's stock valued at $390,000 after purchasing an additional 24 shares during the period. Wambolt & Associates LLC lifted its stake in shares of Ulta Beauty by 1.6% during the 1st quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer's stock worth $626,000 after acquiring an additional 26 shares during the last quarter. Westside Investment Management Inc. lifted its stake in shares of Ulta Beauty by 32.5% during the 1st quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer's stock worth $40,000 after acquiring an additional 27 shares during the last quarter. Procyon Advisors LLC lifted its stake in shares of Ulta Beauty by 4.3% during the 1st quarter. Procyon Advisors LLC now owns 707 shares of the specialty retailer's stock worth $259,000 after acquiring an additional 29 shares during the last quarter. Finally, Sagespring Wealth Partners LLC lifted its stake in shares of Ulta Beauty by 5.0% during the 1st quarter. Sagespring Wealth Partners LLC now owns 625 shares of the specialty retailer's stock worth $229,000 after acquiring an additional 30 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Loop Capital reissued a "hold" rating and set a $510.00 price target on shares of Ulta Beauty in a research note on Friday, July 25th. Cowen restated a "hold" rating on shares of Ulta Beauty in a report on Friday, August 29th. Evercore ISI raised their price objective on Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Bank of America raised their price objective on Ulta Beauty from $500.00 to $575.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Finally, Barclays raised their price objective on Ulta Beauty from $589.00 to $617.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $543.13.

Ulta Beauty Trading Up 0.7%

NASDAQ ULTA opened at $528.80 on Thursday. The stock has a market capitalization of $23.71 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.89 and a beta of 1.06. Ulta Beauty Inc. has a twelve month low of $309.01 and a twelve month high of $539.00. The stock has a 50-day moving average of $511.98 and a 200 day moving average of $440.67.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, beating analysts' consensus estimates of $5.03 by $0.75. The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The business's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.30 earnings per share. Equities analysts predict that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Insider Activity at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $528.43, for a total transaction of $264,215.00. Following the completion of the transaction, the director directly owned 2,263 shares in the company, valued at $1,195,837.09. This trade represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding ULTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ulta Beauty Inc. (NASDAQ:ULTA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.