Ulta Beauty (ULTA) Upgraded to “Buy” by Guggenheim
Guggenheim upgraded shares of Ulta Beauty (NASDAQ:ULTA) from a neutral rating to a buy rating in a report released on Monday morning, Marketbeat Ratings reports. They currently have $260.00 target price on the specialty retailer’s stock.
Several other research analysts have also recently weighed in on the stock. Piper Jaffray upgraded shares of Ulta Beauty from a neutral rating to a buy rating and upped their price target for the company from $212.00 to $236.00 in a report on Tuesday, April 10th. Vetr upgraded shares of Ulta Beauty from a buy rating to a strong-buy rating and set a $237.11 price target for the company in a report on Monday, April 9th. Buckingham Research set a $270.00 price target on shares of Ulta Beauty and gave the company a buy rating in a report on Monday, March 19th. Wells Fargo reiterated a buy rating on shares of Ulta Beauty in a report on Friday, March 16th. Finally, JPMorgan Chase reiterated an overweight rating and issued a $282.00 price target (down previously from $291.00) on shares of Ulta Beauty in a report on Friday, March 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $252.44.
Shares of NASDAQ ULTA opened at $227.93 on Monday. The company has a market cap of $13,387.83, a P/E ratio of 27.93, a PEG ratio of 1.14 and a beta of 0.67. Ulta Beauty has a 52-week low of $187.96 and a 52-week high of $314.86.
Ulta Beauty declared that its Board of Directors has approved a stock buyback program on Thursday, March 15th that allows the company to buyback $625.00 million in shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In related news, Director Dennis K. Eck sold 22,000 shares of the stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $216.82, for a total transaction of $4,770,040.00. Following the completion of the transaction, the director now owns 427,333 shares in the company, valued at $92,654,341.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary N. Dillon sold 16,286 shares of the stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $206.99, for a total transaction of $3,371,039.14. Following the transaction, the chief executive officer now owns 100,984 shares of the company’s stock, valued at approximately $20,902,678.16. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB boosted its holdings in Ulta Beauty by 5.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 12,022 shares of the specialty retailer’s stock worth $2,689,000 after purchasing an additional 654 shares during the last quarter. GUARDCAP ASSET MANAGEMENT Ltd bought a new stake in Ulta Beauty during the fourth quarter worth $10,135,000. William Blair Investment Management LLC bought a new stake in Ulta Beauty during the fourth quarter worth $40,357,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Ulta Beauty by 64.7% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,800 shares of the specialty retailer’s stock worth $626,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Altman Advisors Inc. bought a new stake in Ulta Beauty during the fourth quarter worth $1,750,000. Institutional investors and hedge funds own 92.57% of the company’s stock.
About Ulta Beauty
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores provide cosmetics, fragrance, skincare, haircare, bath and body products, and salon styling tools, as well as others, including nail products and accessories. It offers private label products consisting of Ulta Beauty Collection branded cosmetics, skincare, and bath products.
Receive News & Ratings for Ulta Beauty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ulta Beauty and related companies with MarketBeat.com's FREE daily email newsletter.