Ulta Beauty (ULTA) Given Buy Rating at Guggenheim

Ulta Beauty (NASDAQ:ULTA)‘s stock had its “buy” rating restated by investment analysts at Guggenheim in a report released on Tuesday, The Fly reports. They currently have a $375.00 price target on the specialty retailer’s stock, up from their prior price target of $350.00. Guggenheim’s price target indicates a potential upside of 13.56% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. ValuEngine raised shares of Ulta Beauty from a “hold” rating to a “buy” rating in a report on Tuesday, January 22nd. Jefferies Financial Group boosted their price target on shares of Ulta Beauty from $335.00 to $357.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. UBS Group boosted their price target on shares of Ulta Beauty from $310.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. BidaskClub downgraded shares of Ulta Beauty from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $388.00 price target on the stock in a research report on Thursday, May 9th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Ulta Beauty currently has a consensus rating of “Buy” and a consensus price target of $343.48.

ULTA opened at $330.23 on Tuesday. Ulta Beauty has a fifty-two week low of $224.43 and a fifty-two week high of $359.69. The company has a market cap of $19.40 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 1.48 and a beta of 0.99.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, March 14th. The specialty retailer reported $3.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.56 by $0.05. Ulta Beauty had a net margin of 9.80% and a return on equity of 36.09%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the firm posted $2.75 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Ulta Beauty will post 12.78 earnings per share for the current fiscal year.

In other Ulta Beauty news, Director Dennis K. Eck sold 10,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $352.83, for a total transaction of $3,528,300.00. Following the transaction, the director now owns 220,000 shares in the company, valued at $77,622,600. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Scott M. Settersten sold 29,529 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $338.64, for a total transaction of $9,999,700.56. Following the transaction, the chief financial officer now owns 7,737 shares in the company, valued at approximately $2,620,057.68. The disclosure for this sale can be found here. Insiders have sold a total of 426,250 shares of company stock worth $143,394,373 in the last quarter. 5.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Shine Investment Advisory Services Inc. grew its position in Ulta Beauty by 85.0% during the first quarter. Shine Investment Advisory Services Inc. now owns 74 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 34 shares during the period. Motco bought a new position in Ulta Beauty during the first quarter valued at about $29,000. Hudock Capital Group LLC bought a new position in Ulta Beauty during the first quarter valued at about $34,000. Legacy Financial Advisors Inc. grew its position in Ulta Beauty by 1,270.0% during the fourth quarter. Legacy Financial Advisors Inc. now owns 137 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 127 shares during the period. Finally, NuWave Investment Management LLC bought a new position in Ulta Beauty during the first quarter valued at about $49,000. Hedge funds and other institutional investors own 92.50% 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, haircare and skincare products, bath and body products, and salon styling tools; salon services, including hair, skin, and brow services; and others, including nail products and accessories.

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The Fly

Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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