Ulta Beauty (NASDAQ:ULTA)‘s stock had its “outperform” rating restated by equities research analysts at Telsey Advisory Group in a research note issued to investors on Friday, March 16th, Marketbeat Ratings reports. They presently have a $260.00 price objective on the specialty retailer’s stock, down from their previous price objective of $300.00. Telsey Advisory Group’s price objective suggests a potential upside of 24.84% from the company’s previous close.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Ulta Beauty from a “hold” rating to a “buy” rating and set a $246.00 target price on the stock in a report on Monday, February 5th. Vetr lowered Ulta Beauty from a “buy” rating to a “hold” rating and set a $206.73 target price on the stock. in a report on Monday, March 12th. Wolfe Research decreased their target price on Ulta Beauty from $267.00 to $236.00 and set an “outperform” rating on the stock in a report on Monday, March 12th. Morgan Stanley set a $235.00 target price on Ulta Beauty and gave the stock a “hold” rating in a report on Friday, December 1st. Finally, JPMorgan Chase reissued a “buy” rating and set a $270.00 target price on shares of Ulta Beauty in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $251.01.
Shares of NASDAQ:ULTA traded up $1.34 during trading on Friday, hitting $208.26. 1,289,013 shares of the company were exchanged, compared to its average volume of 1,363,031. The firm has a market capitalization of $12,622.85, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. Ulta Beauty has a fifty-two week low of $187.96 and a fifty-two week high of $314.86.
Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, March 15th. The specialty retailer reported $2.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.77 by ($0.02). The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Ulta Beauty had a return on equity of 30.40% and a net margin of 9.44%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the firm earned $2.24 EPS. equities research analysts forecast that Ulta Beauty will post 10.74 EPS for the current year.
Ulta Beauty declared that its Board of Directors has approved a share repurchase plan on Thursday, March 15th that permits the company to repurchase $625.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank lifted its position in shares of Ulta Beauty by 37.0% during the 3rd quarter. Comerica Bank now owns 39,592 shares of the specialty retailer’s stock valued at $7,986,000 after acquiring an additional 10,690 shares during the period. First Manhattan Co. bought a new stake in shares of Ulta Beauty during the 4th quarter valued at $62,331,000. Parametric Portfolio Associates LLC lifted its position in shares of Ulta Beauty by 31.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 198,278 shares of the specialty retailer’s stock valued at $44,823,000 after acquiring an additional 47,253 shares during the period. First American Trust FSB bought a new stake in shares of Ulta Beauty during the 4th quarter valued at $2,869,000. Finally, Jennison Associates LLC lifted its position in shares of Ulta Beauty by 12.1% during the 4th quarter. Jennison Associates LLC now owns 721,677 shares of the specialty retailer’s stock valued at $161,410,000 after acquiring an additional 77,742 shares during the period. 91.98% of the stock is currently owned by hedge funds and other 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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