Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its price target lowered by research analysts at TD Cowen from $580.00 to $520.00 in a report issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the specialty retailer's stock. TD Cowen's price objective would indicate a potential upside of 22.32% from the company's previous close.
A number of other equities analysts have also weighed in on ULTA. Telsey Advisory Group reiterated an "outperform" rating and set a $600.00 price objective on shares of Ulta Beauty in a research note on Friday, March 15th. Robert W. Baird lifted their price objective on Ulta Beauty from $575.00 to $625.00 and gave the company an "outperform" rating in a research note on Friday, March 15th. Stifel Nicolaus lifted their price objective on Ulta Beauty from $505.00 to $565.00 and gave the company a "hold" rating in a research note on Friday, March 15th. BMO Capital Markets lifted their price objective on Ulta Beauty from $485.00 to $540.00 and gave the company a "market perform" rating in a research note on Friday, March 15th. Finally, Oppenheimer reduced their price objective on Ulta Beauty from $600.00 to $500.00 and set an "outperform" rating for the company in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $568.29.
Check Out Our Latest Analysis on Ulta Beauty
Ulta Beauty Stock Performance
ULTA stock traded up $0.56 during midday trading on Thursday, reaching $425.11. The stock had a trading volume of 859,418 shares, compared to its average volume of 768,971. The stock has a market cap of $20.52 billion, a PE ratio of 16.32, a P/E/G ratio of 1.75 and a beta of 1.30. The firm has a fifty day simple moving average of $514.01 and a two-hundred day simple moving average of $467.55. 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 issued its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.49 by $0.59. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.53 billion. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $6.68 EPS. On average, sell-side analysts predict that Ulta Beauty will post 26.74 EPS for the current fiscal year.
Ulta Beauty declared that its board has initiated a stock repurchase plan on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling at Ulta Beauty
In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the company's stock in a transaction 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 completion of the transaction, the insider now owns 2,705 shares in the company, valued at $1,420,801.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the company's stock in a transaction 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 completion of the transaction, the insider now owns 2,705 shares in the company, valued at $1,420,801.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Catherine Ann Halligan sold 500 shares of the company's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total transaction of $263,130.00. Following the completion of the transaction, the director now owns 1,665 shares of the company's stock, valued at approximately $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 90 days. Corporate insiders own 0.34% of the company's stock.
Institutional Investors Weigh In On Ulta Beauty
Institutional investors and hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB raised its holdings in shares of Ulta Beauty by 347.3% in the fourth quarter. Nordea Investment Management AB now owns 71,491 shares of the specialty retailer's stock valued at $35,061,000 after buying an additional 55,508 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Ulta Beauty in the fourth quarter valued at about $1,810,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Ulta Beauty by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 284,442 shares of the specialty retailer's stock valued at $113,620,000 after buying an additional 2,126 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Ulta Beauty by 3.4% in the fourth quarter. AdvisorNet Financial Inc now owns 1,188 shares of the specialty retailer's stock valued at $582,000 after buying an additional 39 shares during the last quarter. Finally, Asio Capital LLC raised its holdings in Ulta Beauty by 64.3% during the fourth quarter. Asio Capital LLC now owns 10,171 shares of the specialty retailer's stock worth $4,984,000 after purchasing an additional 3,980 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.
About Ulta Beauty
(
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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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