Ulta Beauty (NASDAQ:ULTA) Now Covered by Wolfe Research

Wolfe Research assumed coverage on shares of Ulta Beauty (NASDAQ:ULTA) in a research report sent to investors on Tuesday morning, TipRanks reports. The firm issued a buy rating and a $288.00 price target on the specialty retailer’s stock.

ULTA has been the topic of a number of other research reports. Oppenheimer reduced their target price on Ulta Beauty from $390.00 to $310.00 and set an outperform rating on the stock in a research report on Friday, August 30th. Credit Suisse Group reduced their target price on Ulta Beauty from $380.00 to $286.00 and set an outperform rating on the stock in a research report on Friday, August 30th. Atlantic Securities downgraded Ulta Beauty from an overweight rating to a neutral rating and reduced their target price for the company from $390.00 to $250.00 in a research report on Friday, August 30th. Robert W. Baird set a $315.00 target price on Ulta Beauty and gave the company a buy rating in a research report on Tuesday, September 17th. Finally, Guggenheim set a $325.00 target price on Ulta Beauty and gave the company a buy rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $297.78.

NASDAQ:ULTA opened at $248.46 on Tuesday. Ulta Beauty has a 52 week low of $224.43 and a 52 week high of $368.83. The company has a quick ratio of 0.57, a current ratio of 1.80 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $13.95 billion, a P/E ratio of 22.90, a P/E/G ratio of 1.20 and a beta of 1.15. The stock’s fifty day moving average is $252.57 and its two-hundred day moving average is $322.09.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, August 29th. The specialty retailer reported $2.76 EPS for the quarter, missing the Zacks’ consensus estimate of $2.79 by ($0.03). Ulta Beauty had a net margin of 9.86% and a return on equity of 37.04%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. Ulta Beauty’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts anticipate that Ulta Beauty will post 11.81 earnings per share for the current fiscal year.

In related news, CEO Mary N. Dillon purchased 1,300 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were bought at an average price of $237.17 per share, for a total transaction of $308,321.00. Following the acquisition, the chief executive officer now directly owns 79,256 shares in the company, valued at $18,797,145.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Heilbronn purchased 115,258 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were bought at an average price of $236.41 per share, for a total transaction of $27,248,143.78. Following the acquisition, the director now owns 60,368 shares in the company, valued at $14,271,598.88. The disclosure for this purchase can be found here. Insiders purchased a total of 186,567 shares of company stock worth $44,964,903 in the last quarter. Company insiders own 4.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NEXT Financial Group Inc increased its holdings in Ulta Beauty by 42.0% during the 2nd quarter. NEXT Financial Group Inc now owns 98 shares of the specialty retailer’s stock worth $34,000 after purchasing an additional 29 shares during the period. BancorpSouth Bank increased its holdings in Ulta Beauty by 2.6% during the 2nd quarter. BancorpSouth Bank now owns 1,226 shares of the specialty retailer’s stock worth $426,000 after purchasing an additional 31 shares during the period. Commonwealth Bank of Australia increased its holdings in Ulta Beauty by 79.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 86 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 38 shares during the period. Altman Advisors Inc. increased its holdings in Ulta Beauty by 0.8% during the 2nd quarter. Altman Advisors Inc. now owns 5,589 shares of the specialty retailer’s stock worth $1,939,000 after purchasing an additional 47 shares during the period. Finally, Advantage Investment Management LLC increased its holdings in Ulta Beauty by 67.1% during the 2nd quarter. Advantage Investment Management LLC now owns 117 shares of the specialty retailer’s stock worth $41,000 after purchasing an additional 47 shares during the period. Institutional investors own 87.80% of the company’s stock.

Ulta Beauty Company Profile

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

Further Reading: Consumer behavior in bull markets

Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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