Ulta Beauty (NASDAQ:ULTA) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Ulta Beauty (NASDAQ:ULTA – Get Rating) from a hold rating to a buy rating in a research report released on Tuesday morning.

Several other equities analysts have also recently commented on the stock. Robert W. Baird raised their target price on shares of Ulta Beauty from $450.00 to $490.00 and gave the company an outperform rating in a research note on Friday, May 27th. Jefferies Financial Group raised shares of Ulta Beauty from a hold rating to a buy rating and lifted their target price for the stock from $400.00 to $475.00 in a research report on Friday, May 27th. JPMorgan Chase & Co. raised their price target on shares of Ulta Beauty from $460.00 to $480.00 in a report on Friday, May 27th. Credit Suisse Group raised their price target on shares of Ulta Beauty from $475.00 to $485.00 and gave the stock an outperform rating in a report on Wednesday, June 15th. Finally, Piper Sandler lifted their target price on shares of Ulta Beauty from $465.00 to $485.00 and gave the company an overweight rating in a research note on Friday, May 27th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $460.05.

Ulta Beauty Trading Up 1.5 %

ULTA opened at $377.80 on Tuesday. Ulta Beauty has a twelve month low of $330.80 and a twelve month high of $438.63. The firm has a market cap of $19.58 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.74 and a beta of 1.45. The company has a fifty day simple moving average of $396.53 and a 200 day simple moving average of $387.45.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last posted its quarterly earnings results on Thursday, May 26th. The specialty retailer reported $6.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.44 by $1.86. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.12 billion. Ulta Beauty had a net margin of 12.03% and a return on equity of 60.83%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period last year, the firm posted $4.10 EPS. On average, analysts forecast that Ulta Beauty will post 20.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ulta Beauty news, Director George R. Mrkonic, Jr. sold 476 shares of the company’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $391.84, for a total value of $186,515.84. Following the transaction, the director now directly owns 2,393 shares in the company, valued at approximately $937,673.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, 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 transaction, the chief financial officer now directly owns 14,037 shares in the company, valued at approximately $5,988,605.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George R. Mrkonic, Jr. sold 476 shares of the stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $391.84, for a total value of $186,515.84. Following the sale, the director now owns 2,393 shares of the company’s stock, valued at $937,673.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,207 shares of company stock valued at $19,411,502. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in shares of Ulta Beauty in the 4th quarter worth $25,000. North Star Investment Management Corp. purchased a new position in shares of Ulta Beauty in the fourth quarter valued at about $27,000. Parkside Financial Bank & Trust lifted its position in shares of Ulta Beauty by 59.1% in the first quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 26 shares in the last quarter. Private Capital Group LLC increased its holdings in shares of Ulta Beauty by 265.0% in the second quarter. Private Capital Group LLC now owns 73 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 53 shares during the last quarter. Finally, Bank of New Hampshire bought a new stake in shares of Ulta Beauty in the first quarter worth about $29,000. Hedge funds and other institutional investors own 89.20% of the company’s stock.

Ulta Beauty Company Profile

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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.