JPMorgan Chase reissued their overweight rating on shares of Ulta Beauty (NASDAQ:ULTA) in a research report report published on Friday, March 16th. They currently have a $282.00 price target on the specialty retailer’s stock, down from their previous price target of $291.00.
Several other research firms have also recently weighed in on ULTA. Buckingham Research restated a buy rating on shares of Ulta Beauty in a research report on Tuesday, January 23rd. Zacks Investment Research cut shares of Ulta Beauty from a buy rating to a hold rating in a research report on Tuesday, March 13th. Loop Capital set a $300.00 price objective on shares of Ulta Beauty and gave the stock a buy rating in a research report on Sunday, December 3rd. Wells Fargo set a $297.00 price objective on shares of Ulta Beauty and gave the stock a buy rating in a research report on Thursday, January 11th. Finally, BidaskClub lowered shares of Ulta Beauty from a hold rating to a sell rating in a report on Saturday, February 17th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $251.01.
ULTA stock opened at $208.26 on Friday. Ulta Beauty has a fifty-two week low of $187.96 and a fifty-two week high of $314.86. The company has a market capitalization of $12,541.70, a P/E ratio of 25.52, a P/E/G ratio of 1.07 and a beta of 0.68.
Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, March 15th. The specialty retailer reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.77 by ($0.02). Ulta Beauty had a return on equity of 30.40% and a net margin of 9.44%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $2.24 EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. analysts expect that Ulta Beauty will post 10.74 earnings per share for the current fiscal year.
Ulta Beauty declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 15th that permits the company to repurchase $625.00 million in shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
Hedge funds have recently made changes to their positions in the company. Comerica Bank grew its holdings in shares of Ulta Beauty by 37.0% in the 3rd quarter. Comerica Bank now owns 39,592 shares of the specialty retailer’s stock valued at $7,986,000 after buying an additional 10,690 shares during the period. First Manhattan Co. acquired a new position in shares of Ulta Beauty in the 4th quarter valued at $62,331,000. Parametric Portfolio Associates LLC grew its holdings in shares of Ulta Beauty by 31.3% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 198,278 shares of the specialty retailer’s stock valued at $44,823,000 after buying an additional 47,253 shares during the period. First American Trust FSB acquired a new position in shares of Ulta Beauty in the 4th quarter valued at $2,869,000. Finally, Jennison Associates LLC grew its holdings in shares of Ulta Beauty by 12.1% in the 4th quarter. Jennison Associates LLC now owns 721,677 shares of the specialty retailer’s stock valued at $161,410,000 after buying an additional 77,742 shares during the period. 91.98% of the stock is owned by institutional investors.
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About Ulta Beauty
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores provide cosmetics, fragrance, skincare, haircare, bath and body products, and salon styling tools, as well as others, including nail products and accessories. It offers private label products consisting of Ulta Beauty Collection branded cosmetics, skincare, and bath products.
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