Ulta Beauty (ULTA) Hits New 1-Year High on Analyst Upgrade

Ulta Beauty Inc (NASDAQ:ULTA)’s share price hit a new 52-week high on Tuesday after Morgan Stanley raised their price target on the stock from $355.00 to $375.00. Morgan Stanley currently has an overweight rating on the stock. Ulta Beauty traded as high as $356.80 and last traded at $351.15, with a volume of 21213 shares changing hands. The stock had previously closed at $353.94.

A number of other research firms also recently commented on ULTA. JPMorgan Chase & Co. increased their price objective on Ulta Beauty from $345.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday. Loop Capital increased their price objective on Ulta Beauty from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, March 4th. Zacks Investment Research downgraded Ulta Beauty from a “hold” rating to a “sell” rating in a report on Friday, March 15th. UBS Group increased their price objective on Ulta Beauty from $310.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, BidaskClub upgraded Ulta Beauty from a “hold” rating to a “buy” rating in a report on Wednesday, January 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $328.55.

In other news, insider Jeffrey J. Childs sold 9,757 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $333.89, for a total value of $3,257,764.73. Following the completion of the sale, the insider now directly owns 13,671 shares of the company’s stock, valued at $4,564,610.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David C. Kimbell sold 15,452 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $333.50, for a total value of $5,153,242.00. Following the completion of the sale, the insider now directly owns 13,716 shares of the company’s stock, valued at $4,574,286. The disclosure for this sale can be found here. In the last quarter, insiders have sold 426,250 shares of company stock worth $143,394,373. Corporate insiders own 5.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Shine Investment Advisory Services Inc. lifted its position in Ulta Beauty by 85.0% in the first quarter. Shine Investment Advisory Services Inc. now owns 74 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 34 shares during the period. Legacy Financial Advisors Inc. lifted its position in Ulta Beauty by 1,270.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 137 shares of the specialty retailer’s stock worth $34,000 after purchasing an additional 127 shares during the period. Bronfman E.L. Rothschild L.P. lifted its position in Ulta Beauty by 74.2% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 162 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 69 shares during the period. NuWave Investment Management LLC bought a new position in Ulta Beauty in the first quarter worth $49,000. Finally, Ipswich Investment Management Co. Inc. bought a new position in Ulta Beauty in the fourth quarter worth $53,000. 91.64% of the stock is owned by institutional investors.

The stock has a market capitalization of $20.81 billion, a P/E ratio of 32.73, a price-to-earnings-growth ratio of 1.47 and a beta of 1.02.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, March 14th. The specialty retailer reported $3.61 EPS for the quarter, topping the consensus estimate of $3.56 by $0.05. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Ulta Beauty had a return on equity of 36.09% and a net margin of 9.80%. Ulta Beauty’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $2.75 earnings per share. As a group, analysts anticipate that Ulta Beauty Inc will post 12.78 EPS for the current fiscal year.

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About Ulta Beauty (NASDAQ:ULTA)

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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