Ulta Beauty (NASDAQ:ULTA) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Ulta Beauty's stock has received a "hold (C)" rating from Weiss Ratings, with analysts from multiple firms adjusting their price targets, reflecting varying outlooks on the stock.
• Recently, Ulta Beauty reported quarterly earnings of $5.78 per share, surpassing expectations, with revenues reaching $2.79 billion, an increase of 9.3% year-over-year.
• The company's stock has shown notable price movements, trading at $565.81 recently, with a 52-week high of $572.23, indicating strong market interest.

Ulta Beauty (NASDAQ:ULTA - Get Free Report)'s stock had its "hold (c)" rating reissued by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

ULTA has been the subject of a number of other reports. Wells Fargo & Company increased their price objective on Ulta Beauty from $400.00 to $425.00 and gave the stock an "underweight" rating in a research report on Friday, August 29th. Canaccord Genuity Group set a $650.00 target price on shares of Ulta Beauty in a research note on Friday, August 29th. Oppenheimer lifted their target price on Ulta Beauty from $510.00 to $600.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Robert W. Baird boosted their price target on Ulta Beauty from $575.00 to $600.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Cowen reiterated a "hold" rating on shares of Ulta Beauty in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $544.20.

Ulta Beauty Price Performance

Shares of ULTA traded up $9.04 during trading hours on Wednesday, hitting $565.81. The company's stock had a trading volume of 607,871 shares, compared to its average volume of 556,564. The business has a 50 day simple moving average of $526.47 and a two-hundred day simple moving average of $461.35. The company has a market cap of $25.37 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 3.07 and a beta of 1.08. Ulta Beauty has a 52-week low of $309.01 and a 52-week high of $572.23.

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

Insider Buying and Selling

In related news, Director Mike C. Smith sold 500 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $528.43, for a total transaction of $264,215.00. Following the transaction, the director owned 2,263 shares of the company's stock, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company's stock.

Institutional Investors Weigh In On Ulta Beauty

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

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.

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