Traders Buy Ulta Beauty (ULTA) on Weakness

Traders purchased shares of Ulta Beauty Inc. (NASDAQ:ULTA) on weakness during trading on Tuesday. $119.06 million flowed into the stock on the tick-up and $80.18 million flowed out of the stock on the tick-down, for a money net flow of $38.88 million into the stock. Of all stocks tracked, Ulta Beauty had the 11th highest net in-flow for the day. Ulta Beauty traded down ($1.27) for the day and closed at $214.87

ULTA has been the subject of several recent research reports. Morgan Stanley reduced their price objective on Ulta Beauty from $313.00 to $245.00 and set an “equal weight” rating for the company in a research note on Monday, August 28th. Cowen set a $336.00 target price on Ulta Beauty and gave the company a “buy” rating in a report on Friday, October 20th. Loop Capital set a $300.00 target price on Ulta Beauty and gave the company a “buy” rating in a report on Sunday, December 3rd. Cleveland Research cut Ulta Beauty from a “buy” rating to a “neutral” rating and upped their target price for the company from $189.50 to $314.00 in a report on Thursday, October 12th. Finally, Telsey Advisory Group dropped their target price on Ulta Beauty from $360.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Ulta Beauty has an average rating of “Hold” and a consensus target price of $257.39.

The stock has a market capitalization of $13,105.44, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.33 and a beta of 0.55.

In other Ulta Beauty news, Director Charles Heilbronn purchased 127,889 shares of the stock in a transaction dated Friday, October 13th. The stock was acquired at an average cost of $195.21 per share, for a total transaction of $24,965,211.69. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Ulta Beauty by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,738,059 shares of the specialty retailer’s stock valued at $1,648,774,000 after acquiring an additional 173,627 shares during the period. BlackRock Inc. boosted its holdings in Ulta Beauty by 6.2% during the 2nd quarter. BlackRock Inc. now owns 4,255,942 shares of the specialty retailer’s stock valued at $1,222,902,000 after acquiring an additional 247,992 shares during the period. Jennison Associates LLC boosted its holdings in Ulta Beauty by 9.1% during the 2nd quarter. Jennison Associates LLC now owns 2,468,332 shares of the specialty retailer’s stock valued at $709,251,000 after acquiring an additional 205,289 shares during the period. JPMorgan Chase & Co. boosted its holdings in Ulta Beauty by 4.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,180,557 shares of the specialty retailer’s stock valued at $626,560,000 after acquiring an additional 83,081 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Ulta Beauty by 58.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,390,665 shares of the specialty retailer’s stock valued at $314,378,000 after acquiring an additional 512,315 shares during the period. Institutional investors and hedge funds own 89.09% of the company’s stock.

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About Ulta Beauty

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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