Ulta Beauty (ULTA) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Ulta Beauty (NASDAQ:ULTA) from a hold rating to a buy rating in a report issued on Wednesday morning.

A number of other research firms also recently issued reports on ULTA. Piper Jaffray reissued a hold rating and issued a $230.00 price objective on shares of Ulta Beauty in a report on Monday, January 22nd. Oppenheimer reissued a hold rating and issued a $240.00 price objective on shares of Ulta Beauty in a report on Thursday, January 18th. Morgan Stanley raised shares of Ulta Beauty from an equal weight rating to an overweight rating and raised their price objective for the stock from $235.00 to $245.00 in a report on Wednesday, January 17th. They noted that the move was a valuation call. Wells Fargo set a $297.00 price objective on shares of Ulta Beauty and gave the stock a buy rating in a report on Thursday, January 11th. Finally, Vetr raised shares of Ulta Beauty from a buy rating to a strong-buy rating in a report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $252.44.

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Shares of NASDAQ ULTA opened at $233.04 on Wednesday. The stock has a market cap of $14,158.20, a PE ratio of 28.52, a P/E/G ratio of 1.21 and a beta of 0.68. Ulta Beauty has a 52-week low of $187.96 and a 52-week high of $314.86.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, March 15th. The specialty retailer reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.02). The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Ulta Beauty had a net margin of 9.44% and a return on equity of 30.40%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.24 EPS. sell-side analysts forecast that Ulta Beauty will post 10.74 earnings per share for the current year.

Ulta Beauty announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 15th that allows the company to repurchase $625.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other Ulta Beauty news, CEO Mary N. Dillon sold 16,286 shares of Ulta Beauty stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $206.99, for a total transaction of $3,371,039.14. Following the completion of the transaction, the chief executive officer now directly owns 100,984 shares of the company’s stock, valued at $20,902,678.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dennis K. Eck sold 22,000 shares of Ulta Beauty stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $216.82, for a total transaction of $4,770,040.00. Following the transaction, the director now directly owns 427,333 shares of the company’s stock, valued at $92,654,341.06. The disclosure for this sale can be found here. Insiders sold 41,286 shares of company stock worth $8,826,129 in the last 90 days. 5.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ULTA. Captrust Financial Advisors purchased a new position in Ulta Beauty during the fourth quarter worth $153,000. ACG Wealth purchased a new position in Ulta Beauty during the fourth quarter worth $216,000. Sapphire Star Partners LP purchased a new position in Ulta Beauty during the fourth quarter worth $224,000. BancorpSouth Bank purchased a new position in Ulta Beauty during the fourth quarter worth $230,000. Finally, Bluestein R H & Co. purchased a new position in Ulta Beauty during the fourth quarter worth $233,000. 92.57% of the stock is owned by institutional investors.

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Ulta Beauty Company Profile

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.

Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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