Ulta Beauty (NASDAQ:ULTA) Updates FY 2024 Earnings Guidance

Ulta Beauty (NASDAQ:ULTA) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 26.200-27.000 for the period, compared to the consensus EPS estimate of 26.200. The company issued revenue guidance of $11.7 billion-$11.8 billion, compared to the consensus revenue estimate of $11.7 billion. Ulta Beauty also updated its FY25 guidance to $26.20-27.00 EPS.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Ulta Beauty from $375.00 to $400.00 and gave the stock an underweight rating in a report on Friday, December 1st. Citigroup increased their price target on shares of Ulta Beauty from $440.00 to $485.00 and gave the stock a neutral rating in a report on Friday, December 1st. Oppenheimer restated an outperform rating and issued a $525.00 price objective on shares of Ulta Beauty in a research report on Friday, December 1st. UBS Group upped their price objective on Ulta Beauty from $575.00 to $690.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Finally, Argus upped their price objective on Ulta Beauty from $500.00 to $545.00 and gave the stock a buy rating in a research report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $535.35.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA traded down $1.74 during midday trading on Thursday, reaching $565.44. 1,269,759 shares of the company’s stock were exchanged, compared to its average volume of 583,885. The firm’s 50 day simple moving average is $515.46 and its two-hundred day simple moving average is $453.98. The stock has a market cap of $27.46 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 2.29 and a beta of 1.31. Ulta Beauty has a fifty-two week low of $368.02 and a fifty-two week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.53 by $0.55. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.53 billion. Ulta Beauty had a return on equity of 61.42% and a net margin of 11.37%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $6.68 EPS. Equities research analysts predict that Ulta Beauty will post 25.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

A number of hedge funds and other institutional investors have recently bought and sold shares of ULTA. Prudential PLC purchased a new position in shares of Ulta Beauty in the 1st quarter valued at about $425,000. Vanguard Group Inc. boosted its stake in shares of Ulta Beauty by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 5,886,434 shares of the specialty retailer’s stock valued at $2,344,096,000 after buying an additional 40,190 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Ulta Beauty by 2.8% in the 1st quarter. Baird Financial Group Inc. now owns 8,299 shares of the specialty retailer’s stock valued at $3,305,000 after buying an additional 223 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of Ulta Beauty by 38.6% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,117 shares of the specialty retailer’s stock valued at $444,000 after buying an additional 311 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Ulta Beauty by 59.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 26 shares during the period. 92.30% of the stock is currently owned by hedge funds and other institutional investors.

Ulta Beauty Company Profile

Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.