BidaskClub downgraded shares of Ulta Beauty (NASDAQ:ULTA) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
A number of other brokerages also recently weighed in on ULTA. OTR Global raised shares of Ulta Beauty to a positive rating in a report on Monday, May 21st. Goldman Sachs Group downgraded shares of Ulta Beauty from a buy rating to a neutral rating and increased their price target for the company from $241.00 to $272.00 in a report on Tuesday, June 5th. Piper Jaffray Companies set a $268.00 price target on shares of Ulta Beauty and gave the company a buy rating in a report on Tuesday, May 29th. Robert W. Baird set a $290.00 price target on shares of Ulta Beauty and gave the company a buy rating in a report on Wednesday, May 30th. Finally, Buckingham Research increased their price target on shares of Ulta Beauty from $270.00 to $300.00 and gave the company a buy rating in a report on Wednesday, May 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $264.96.
Ulta Beauty opened at $242.61 on Wednesday, Marketbeat Ratings reports. Ulta Beauty has a 1 year low of $187.96 and a 1 year high of $278.94. The firm has a market capitalization of $14.16 billion, a P/E ratio of 29.73, a PEG ratio of 1.17 and a beta of 0.68.
Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, May 31st. The specialty retailer reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.22. Ulta Beauty had a net margin of 9.67% and a return on equity of 32.15%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the business posted $1.91 EPS. Ulta Beauty’s revenue was up 17.4% compared to the same quarter last year. equities analysts anticipate that Ulta Beauty will post 10.84 earnings per share for the current fiscal year.
Ulta Beauty declared that its board has approved a share repurchase program on Thursday, March 15th that allows the company to buyback $625.00 million in shares. This buyback authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other news, Director Dennis K. Eck sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $251.53, for a total transaction of $880,355.00. Following the completion of the transaction, the director now directly owns 380,294 shares of the company’s stock, valued at approximately $95,655,349.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey J. Childs sold 8,000 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $251.83, for a total transaction of $2,014,640.00. Following the transaction, the insider now directly owns 13,534 shares of the company’s stock, valued at $3,408,267.22. The disclosure for this sale can be found here. Insiders have sold a total of 105,432 shares of company stock valued at $25,661,967 over the last ninety days. 5.60% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Profund Advisors LLC lifted its holdings in Ulta Beauty by 3.8% during the 1st quarter. Profund Advisors LLC now owns 5,590 shares of the specialty retailer’s stock valued at $1,142,000 after purchasing an additional 204 shares during the last quarter. Alps Advisors Inc. lifted its holdings in Ulta Beauty by 11.2% during the 1st quarter. Alps Advisors Inc. now owns 2,305 shares of the specialty retailer’s stock valued at $471,000 after purchasing an additional 232 shares during the last quarter. First Republic Investment Management Inc. lifted its holdings in Ulta Beauty by 17.4% during the 4th quarter. First Republic Investment Management Inc. now owns 1,660 shares of the specialty retailer’s stock valued at $371,000 after purchasing an additional 246 shares during the last quarter. Meadow Creek Investment Management LLC lifted its holdings in Ulta Beauty by 9.5% during the 4th quarter. Meadow Creek Investment Management LLC now owns 2,912 shares of the specialty retailer’s stock valued at $651,000 after purchasing an additional 252 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Ulta Beauty by 17.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 1,960 shares of the specialty retailer’s stock valued at $400,000 after purchasing an additional 294 shares during the last quarter. 90.10% of the stock is owned by hedge funds and other institutional investors.
About Ulta Beauty
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, haircare and skincare products, bath and body products, and salon styling tools; salon services, including hair, skin, and brow services; and others, including nail products and accessories.
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