StockNews.com Lowers Ulta Beauty (NASDAQ:ULTA) to Hold

Ulta Beauty (NASDAQ:ULTAGet Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other research firms also recently issued reports on ULTA. Piper Sandler lifted their price target on shares of Ulta Beauty from $465.00 to $485.00 and gave the stock an “overweight” rating in a research note on Friday, May 27th. Robert W. Baird boosted their target price on shares of Ulta Beauty from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Friday, May 27th. DA Davidson boosted their price objective on shares of Ulta Beauty from $465.00 to $490.00 and gave the company a “buy” rating in a research report on Thursday, June 9th. Oppenheimer boosted their target price on shares of Ulta Beauty from $470.00 to $485.00 and gave the company an “outperform” rating in a research note on Friday, May 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ulta Beauty from $460.00 to $480.00 in a research note on Friday, May 27th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Ulta Beauty currently has an average rating of “Moderate Buy” and a consensus target price of $458.38.

Ulta Beauty stock traded down $0.31 during mid-day trading on Thursday, reaching $395.91. The company had a trading volume of 649,865 shares, compared to its average volume of 779,653. The stock’s 50-day simple moving average is $397.65 and its 200-day simple moving average is $388.11. Ulta Beauty has a 1 year low of $319.05 and a 1 year high of $438.63. The company has a market capitalization of $20.52 billion, a P/E ratio of 19.59, a P/E/G ratio of 1.88 and a beta of 1.54.

Ulta Beauty (NASDAQ:ULTAGet Rating) last announced its earnings results on Thursday, May 26th. The specialty retailer reported $6.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $1.84. Ulta Beauty had a net margin of 12.03% and a return on equity of 60.83%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the business earned $4.10 earnings per share. Ulta Beauty’s revenue was up 21.0% compared to the same quarter last year. On average, analysts anticipate that Ulta Beauty will post 20.07 earnings per share for the current fiscal year.

In other Ulta Beauty news, COO Kecia Steelman sold 13,199 shares of the stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $405.02, for a total transaction of $5,345,858.98. Following the sale, the chief operating officer now owns 16,627 shares of the company’s stock, valued at approximately $6,734,267.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Scott M. Settersten sold 32,532 shares of the stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $426.63, for a total transaction of $13,879,127.16. Following the sale, the chief financial officer now directly owns 14,037 shares in the company, valued at approximately $5,988,605.31. The disclosure for this sale can be found here. Insiders have sold a total of 46,207 shares of company stock valued at $19,411,502 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Girard Partners LTD. boosted its stake in shares of Ulta Beauty by 2.6% in the 4th quarter. Girard Partners LTD. now owns 12,729 shares of the specialty retailer’s stock valued at $5,248,000 after purchasing an additional 322 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Ulta Beauty by 10.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,060 shares of the specialty retailer’s stock worth $7,859,000 after acquiring an additional 1,797 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Ulta Beauty by 1.3% during the 4th quarter. New York State Teachers Retirement System now owns 59,966 shares of the specialty retailer’s stock worth $24,726,000 after acquiring an additional 756 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in Ulta Beauty by 17.4% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 6,497 shares of the specialty retailer’s stock worth $2,679,000 after acquiring an additional 961 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in Ulta Beauty by 9.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,692 shares of the specialty retailer’s stock worth $2,347,000 after acquiring an additional 487 shares during the last quarter. 89.20% of the stock is currently owned by institutional investors.

About Ulta Beauty (Get Rating)

Ulta Beauty, Inc operates as a retailer of beauty products in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; professional hair products; salon services, including hair, skin, makeup, and brow services; and nail services.

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Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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