Ulta Beauty (NASDAQ:ULTA) Reaches New 52-Week High - What's Next?

Key Points

• Ulta Beauty shares reached a new 52-week high of $567.98, closing at $566.91, with trading volume at 570,586 shares.
• Analysts have increased their price targets for Ulta Beauty, with Jefferies setting a target of $550.00 and Piper Sandler initiating coverage with an objective of $590.00.
• Following a strong quarterly earnings report, Ulta Beauty posted an EPS of $5.78, surpassing analyst expectations and indicating a 9.3% increase in revenue year-over-year.

Shares of Ulta Beauty Inc. (NASDAQ:ULTA - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $567.98 and last traded at $566.91, with a volume of 570586 shares. The stock had previously closed at $556.45.

Analysts Set New Price Targets

A number of equities analysts have commented on ULTA shares. Jefferies Financial Group boosted their price target on shares of Ulta Beauty from $425.00 to $550.00 and gave the stock a "hold" rating in a research note on Tuesday, August 26th. Wells Fargo & Company upped their price objective on shares of Ulta Beauty from $400.00 to $425.00 and gave the company an "underweight" rating in a research note on Friday, August 29th. Piper Sandler began coverage on shares of Ulta Beauty in a research note on Thursday, September 4th. They issued an "overweight" rating and a $590.00 price objective for the company. Loop Capital reaffirmed a "hold" rating and issued a $510.00 price objective on shares of Ulta Beauty in a research note on Friday, July 25th. Finally, Canaccord Genuity Group set a $650.00 price objective on shares of Ulta Beauty in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $544.20.

Ulta Beauty Trading Up 1.9%

The stock's fifty day moving average is $524.63 and its 200 day moving average is $459.95. 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.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly 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. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the business posted $5.30 EPS. The firm's revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the completion of the transaction, the director directly owned 2,263 shares in the company, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.39% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC raised its holdings in Ulta Beauty by 215.1% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 3,327 shares of the specialty retailer's stock worth $1,819,000 after purchasing an additional 2,271 shares in the last quarter. GAMMA Investing LLC raised its holdings in Ulta Beauty by 12.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,093 shares of the specialty retailer's stock worth $1,144,000 after purchasing an additional 237 shares in the last quarter. Rowlandmiller & PARTNERS.ADV raised its holdings in Ulta Beauty by 9.2% in the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 1,567 shares of the specialty retailer's stock worth $857,000 after purchasing an additional 132 shares in the last quarter. Caldwell Trust Co bought a new position in shares of Ulta Beauty in the 2nd quarter worth about $78,000. Finally, Orion Porfolio Solutions LLC bought a new position in shares of Ulta Beauty in the 2nd quarter worth about $275,000. 90.39% of the stock is currently owned by institutional investors.

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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