Ulta Beauty Inc. (ULTA) Upgraded by Goldman Sachs Group, Inc. (The) to Buy
Goldman Sachs Group, Inc. (The) upgraded shares of Ulta Beauty Inc. (NASDAQ:ULTA) from a neutral rating to a buy rating in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have $310.00 price objective on the specialty retailer’s stock.
A number of other brokerages have also weighed in on ULTA. Edward Jones lowered shares of Ulta Beauty from a buy rating to a hold rating in a research report on Wednesday, May 24th. Buckingham Research lowered shares of Ulta Beauty from a buy rating to a neutral rating and raised their target price for the company from $325.00 to $330.00 in a research report on Friday, May 26th. Zacks Investment Research upgraded shares of Ulta Beauty from a hold rating to a buy rating and set a $301.00 target price on the stock in a research report on Thursday. Stifel Nicolaus restated a hold rating and issued a $325.00 target price (up previously from $305.00) on shares of Ulta Beauty in a research report on Tuesday, June 6th. Finally, Deutsche Bank AG set a $300.00 target price on shares of Ulta Beauty and gave the company a hold rating in a research report on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $322.21.
Shares of Ulta Beauty (ULTA) traded down 2.98% on Friday, hitting $253.94. The stock had a trading volume of 1,671,434 shares. The firm has a market capitalization of $15.75 billion, a P/E ratio of 35.66 and a beta of 0.59. The company has a 50 day moving average of $297.02 and a 200-day moving average of $280.25. Ulta Beauty has a 12-month low of $225.13 and a 12-month high of $314.86.
Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, May 25th. The specialty retailer reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.12. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.28 billion. Ulta Beauty had a net margin of 8.75% and a return on equity of 28.91%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $1.45 EPS. Equities analysts predict that Ulta Beauty will post $8.32 EPS for the current fiscal year.
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In related news, Director Robert F. Diromualdo sold 20,000 shares of Ulta Beauty stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $309.05, for a total transaction of $6,181,000.00. Following the completion of the transaction, the director now owns 4,717 shares of the company’s stock, valued at $1,457,788.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Catherine Ann Halligan sold 500 shares of Ulta Beauty stock in a transaction on Monday, June 5th. The stock was sold at an average price of $312.36, for a total transaction of $156,180.00. Following the transaction, the director now directly owns 4,126 shares of the company’s stock, valued at approximately $1,288,797.36. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Ulta Beauty by 11.2% in the first quarter. Fifth Third Bancorp now owns 398 shares of the specialty retailer’s stock worth $114,000 after buying an additional 40 shares in the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Ulta Beauty during the first quarter worth $120,000. FNY Partners Fund LP bought a new stake in Ulta Beauty during the first quarter valued at $142,000. NEXT Financial Group Inc increased its stake in Ulta Beauty by 18.0% in the first quarter. NEXT Financial Group Inc now owns 565 shares of the specialty retailer’s stock valued at $159,000 after buying an additional 86 shares during the period. Finally, Copper Rock Capital Partners LLC increased its stake in Ulta Beauty by 316.8% in the second quarter. Copper Rock Capital Partners LLC now owns 842 shares of the specialty retailer’s stock valued at $215,000 after buying an additional 640 shares during the period. 85.37% of the stock is owned by institutional investors and hedge funds.
Ulta Beauty Company Profile
Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.
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