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.
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.
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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