Ulta Beauty (ULTA) Cut to “Buy” at BidaskClub

BidaskClub cut shares of Ulta Beauty (NASDAQ:ULTA) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

ULTA has been the subject of a number of other reports. Jefferies Financial Group set a $335.00 price objective on shares of Ulta Beauty and gave the company a buy rating in a research report on Friday, November 9th. UBS Group raised their price objective on shares of Ulta Beauty from $285.00 to $315.00 and gave the company a buy rating in a research report on Friday, September 7th. Zacks Investment Research restated a buy rating and issued a $316.00 price objective on shares of Ulta Beauty in a research report on Saturday, November 17th. Wells Fargo & Co set a $278.00 price objective on shares of Ulta Beauty and gave the company a buy rating in a research report on Monday, August 20th. Finally, Deutsche Bank set a $300.00 price objective on shares of Ulta Beauty and gave the company a hold rating in a research report on Friday, November 9th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Ulta Beauty presently has an average rating of Buy and an average price target of $284.48.

Shares of NASDAQ:ULTA opened at $297.79 on Wednesday. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of 36.49, a price-to-earnings-growth ratio of 1.51 and a beta of 0.60. Ulta Beauty has a twelve month low of $191.70 and a twelve month high of $322.49.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, August 30th. The specialty retailer reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.05. Ulta Beauty had a net margin of 9.91% and a return on equity of 33.29%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. On average, sell-side analysts expect that Ulta Beauty will post 10.84 EPS for the current fiscal year.

In related news, Director Catherine Ann Halligan sold 129 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $281.50, for a total value of $36,313.50. Following the sale, the director now directly owns 3,628 shares of the company’s stock, valued at $1,021,282. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lorna Nagler sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $276.19, for a total transaction of $552,380.00. Following the completion of the sale, the director now directly owns 7,923 shares in the company, valued at $2,188,253.37. The disclosure for this sale can be found here. Insiders sold 68,407 shares of company stock worth $19,580,698 over the last ninety days. 5.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cornerstone Wealth Management LLC purchased a new position in shares of Ulta Beauty during the second quarter worth approximately $247,000. Acadian Asset Management LLC purchased a new position in shares of Ulta Beauty during the second quarter worth approximately $286,000. Piedmont Investment Advisors LLC purchased a new position in shares of Ulta Beauty during the second quarter worth approximately $151,000. Advisory Services Network LLC raised its stake in shares of Ulta Beauty by 1,691.7% during the second quarter. Advisory Services Network LLC now owns 3,028 shares of the specialty retailer’s stock worth $763,000 after acquiring an additional 2,859 shares in the last quarter. Finally, Dupont Capital Management Corp purchased a new position in shares of Ulta Beauty during the second quarter worth approximately $162,000. 91.36% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Company Profile

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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