Share Buyback Plan Approved by Ulta Beauty (NASDAQ:ULTA)

Ulta Beauty (NASDAQ:ULTA) declared that its board has initiated a stock repurchase program, which permits the company to buyback $625.00 million in shares on Thursday, March 15th. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Shares of ULTA traded up $1.34 during trading on Friday, reaching $208.26. The company’s stock had a trading volume of 1,289,013 shares, compared to its average volume of 1,363,031. Ulta Beauty has a twelve month low of $187.96 and a twelve month high of $314.86. The firm has a market cap of $12,622.85, a price-to-earnings ratio of 25.52, a PEG ratio of 1.08 and a beta of 0.68.

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Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, March 15th. The specialty retailer reported $2.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.77 by ($0.02). Ulta Beauty had a net margin of 9.44% and a return on equity of 30.40%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the company earned $2.24 earnings per share. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. analysts anticipate that Ulta Beauty will post 10.74 earnings per share for the current year.

Several research analysts have recently issued reports on the company. Vetr raised shares of Ulta Beauty from a “buy” rating to a “strong-buy” rating and set a $237.11 target price for the company in a research note on Monday. Piper Jaffray set a $212.00 price target on Ulta Beauty and gave the company a “hold” rating in a report on Thursday, March 15th. Zacks Investment Research upgraded Ulta Beauty from a “hold” rating to a “buy” rating and set a $246.00 price target for the company in a report on Monday, February 5th. Wolfe Research lowered their price target on Ulta Beauty from $267.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, March 12th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $260.00 target price (down previously from $300.00) on shares of Ulta Beauty in a report on Friday, March 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Ulta Beauty currently has an average rating of “Buy” and a consensus price target of $251.01.

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Ulta Beauty Company Profile

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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