Ulta Beauty Inc. (NASDAQ:ULTA) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Ulta Beauty Inc. has received a consensus recommendation of "Moderate Buy" from 28 analysts, with an average 12-month price target of $544.20.
• The company's recent quarterly earnings report revealed earnings per share of $5.78, exceeding analysts' expectations and showing a revenue increase of 9.3% year-over-year.
• Institutional investors recently raised their stakes in Ulta Beauty, reflecting growing confidence, as evidenced by multiple firms increasing their price targets significantly.

Ulta Beauty Inc. (NASDAQ:ULTA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty-eight ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $544.20.

ULTA has been the subject of several analyst reports. Citigroup increased their price objective on shares of Ulta Beauty from $450.00 to $550.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Evercore ISI upped their target price on Ulta Beauty from $595.00 to $640.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Oppenheimer lifted their price target on Ulta Beauty from $510.00 to $600.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Loop Capital reissued a "hold" rating and issued a $510.00 price objective on shares of Ulta Beauty in a research report on Friday, July 25th. Finally, UBS Group upped their price objective on Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a research note on Friday, August 29th.

Insiders Place Their Bets

In related news, Director Mike C. Smith sold 500 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the completion of the sale, the director owned 2,263 shares in the company, valued at approximately $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 accessible through this link. Insiders own 0.39% of the company's stock.

Institutional Investors Weigh In On Ulta Beauty

Large investors have recently modified their holdings of the stock. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Ulta Beauty by 107.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 54 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 28 shares during the period. Hemington Wealth Management increased its position in Ulta Beauty by 142.9% in the second quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer's stock worth $31,000 after buying an additional 40 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Ulta Beauty in the second quarter valued at $35,000. Newbridge Financial Services Group Inc. raised its stake in shares of Ulta Beauty by 52.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 76 shares of the specialty retailer's stock valued at $36,000 after buying an additional 26 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in shares of Ulta Beauty during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Ulta Beauty Trading Up 1.9%

Shares of Ulta Beauty stock opened at $566.91 on Tuesday. The company has a market capitalization of $25.42 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 3.06 and a beta of 1.08. The stock has a fifty day simple moving average of $524.63 and a 200 day simple moving average of $459.95. Ulta Beauty has a 12-month low of $309.01 and a 12-month high of $567.98.

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

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.

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.