Oppenheimer Holdings, Inc. lowered shares of Ulta Beauty Inc. (NASDAQ:ULTA) from an outperform rating to a market perform rating in a report released on Tuesday, August 8th. The firm currently has $270.00 price target on the specialty retailer’s stock, down from their prior price target of $330.00.
“softer commentary,” the analyst explained. For example, the company acknowledged the beauty market in the U.S. is “less than [even] last year due to a much [softer] mass market.” The company also said the beauty market has been “amazingly slow since January after a lively market in 2016.””If our read of L’Oreal’s assessment is accurate, this, coupled with increased department store discounting, could suggest a less robust US beauty market,,” Oppenheimer Holdings, Inc.’s analyst wrote.
Several other brokerages have also recently weighed in on ULTA. Stifel Nicolaus reiterated a hold rating and issued a $325.00 target price (up from $305.00) on shares of Ulta Beauty in a report on Tuesday, June 6th. Jefferies Group LLC upgraded Ulta Beauty from a hold rating to a buy rating and upped their target price for the stock from $266.00 to $350.00 in a report on Friday, June 2nd. Zacks Investment Research cut Ulta Beauty from a buy rating to a hold rating in a report on Thursday, June 1st. Morgan Stanley upped their price objective on Ulta Beauty from $300.00 to $313.00 and gave the stock an equal weight rating in a research note on Wednesday, May 31st. Finally, Guggenheim initiated coverage on Ulta Beauty in a research note on Tuesday, June 13th. They set a neutral rating for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. Ulta Beauty has an average rating of Hold and an average price target of $319.05.
Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, May 25th. The specialty retailer reported $1.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.12. Ulta Beauty had a return on equity of 28.91% and a net margin of 8.75%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the business earned $1.45 EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities research analysts predict that Ulta Beauty will post $8.32 EPS for the current fiscal year.
In other Ulta Beauty news, Director Robert F. Diromualdo sold 20,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $309.05, for a total transaction of $6,181,000.00. Following the transaction, the director now owns 4,717 shares in the company, valued at $1,457,788.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Catherine Ann Halligan sold 500 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $312.36, for a total value of $156,180.00. Following the transaction, the director now owns 4,126 shares in the company, valued at approximately $1,288,797.36. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Ulta Beauty by 3.1% in the second quarter. Vanguard Group Inc. now owns 5,738,059 shares of the specialty retailer’s stock worth $1,648,774,000 after buying an additional 173,627 shares in the last quarter. BlackRock Inc. increased its position in shares of Ulta Beauty by 6.2% in the second quarter. BlackRock Inc. now owns 4,255,942 shares of the specialty retailer’s stock worth $1,222,902,000 after buying an additional 247,992 shares in the last quarter. Jennison Associates LLC increased its position in shares of Ulta Beauty by 9.1% in the second quarter. Jennison Associates LLC now owns 2,468,332 shares of the specialty retailer’s stock worth $709,251,000 after buying an additional 205,289 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Ulta Beauty by 4.0% in the second quarter. JPMorgan Chase & Co. now owns 2,180,557 shares of the specialty retailer’s stock worth $626,560,000 after buying an additional 83,081 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Ulta Beauty by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 1,567,313 shares of the specialty retailer’s stock valued at $447,047,000 after buying an additional 17,380 shares during the period. Institutional investors own 85.68% of the company’s stock.
Ulta Beauty Company Profile
Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.
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