Entropy Technologies LP Takes Position in Ulta Beauty Inc. (NASDAQ:ULTA)

Key Points

• Entropy Technologies LP has acquired a new stake in Ulta Beauty Inc., purchasing 4,500 shares valued at approximately $1.65 million.
• Ulta Beauty reported quarterly earnings of $6.70 EPS, exceeding analysts' expectations, and showing a revenue increase of 4.5% year-over-year.
• Wall Street analysts have updated their ratings and price targets, with Morgan Stanley raising its price target from $460 to $550, while maintaining an "overweight" rating.

Entropy Technologies LP acquired a new stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,500 shares of the specialty retailer's stock, valued at approximately $1,649,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. American National Bank & Trust bought a new stake in Ulta Beauty in the first quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in Ulta Beauty in the first quarter valued at $31,000. Rakuten Securities Inc. grew its position in Ulta Beauty by 218.5% in the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after acquiring an additional 59 shares during the period. North Star Investment Management Corp. grew its position in Ulta Beauty by 71.4% in the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 40 shares during the period. Finally, NBC Securities Inc. bought a new stake in Ulta Beauty in the first quarter valued at $37,000. 90.39% of the stock is currently owned by institutional investors.

Ulta Beauty Stock Down 1.6%

NASDAQ ULTA opened at $498.21 on Monday. The stock's 50-day simple moving average is $483.37 and its two-hundred day simple moving average is $414.83. Ulta Beauty Inc. has a twelve month low of $309.01 and a twelve month high of $523.68. The company has a market capitalization of $22.39 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 3.01 and a beta of 1.12.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.73 by $0.97. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The firm had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.79 billion. During the same period last year, the firm earned $6.47 earnings per share. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ULTA. Morgan Stanley upped their price target on Ulta Beauty from $460.00 to $550.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Argus lowered Ulta Beauty from a "buy" rating to a "hold" rating in a research note on Monday, April 14th. Robert W. Baird boosted their price objective on Ulta Beauty from $440.00 to $525.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Evercore ISI boosted their price objective on Ulta Beauty from $465.00 to $490.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Finally, Wall Street Zen lowered Ulta Beauty from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $469.09.

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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