Ulta Beauty (ULTA) Upgraded to “Buy” by ValuEngine

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ValuEngine upgraded shares of Ulta Beauty (NASDAQ:ULTA) from a hold rating to a buy rating in a research note released on Friday.

A number of other research firms have also weighed in on ULTA. BidaskClub upgraded Ulta Beauty from a hold rating to a buy rating in a research report on Tuesday, September 11th. Loop Capital reiterated a hold rating and issued a $280.00 price target (up previously from $250.00) on shares of Ulta Beauty in a research report on Thursday, September 13th. Telsey Advisory Group increased their price objective on Ulta Beauty from $290.00 to $330.00 and gave the stock an outperform rating in a research note on Monday, October 1st. UBS Group increased their price objective on Ulta Beauty from $285.00 to $315.00 and gave the stock a buy rating in a research note on Friday, September 7th. Finally, Morgan Stanley increased their price objective on Ulta Beauty from $280.00 to $300.00 and gave the stock an overweight rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Ulta Beauty currently has an average rating of Buy and a consensus price target of $268.50.

Shares of NASDAQ:ULTA traded up $8.07 during midday trading on Friday, reaching $275.64. The company had a trading volume of 1,026,523 shares, compared to its average volume of 1,077,717. Ulta Beauty has a 1-year low of $187.96 and a 1-year high of $290.30. The firm has a market capitalization of $16.86 billion, a price-to-earnings ratio of 33.78, a price-to-earnings-growth ratio of 1.40 and a beta of 0.64.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, August 30th. The specialty retailer reported $2.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.41 by $0.05. Ulta Beauty had a return on equity of 33.29% and a net margin of 9.91%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. On average, analysts anticipate that Ulta Beauty will post 10.84 EPS for the current year.

In other news, Director Dennis K. Eck sold 31,278 shares of the stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $285.88, for a total transaction of $8,941,754.64. Following the transaction, the director now owns 334,778 shares of the company’s stock, valued at approximately $95,706,334.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dennis K. Eck sold 35,000 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $287.15, for a total value of $10,050,250.00. Following the transaction, the director now directly owns 361,294 shares in the company, valued at approximately $103,745,572.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,407 shares of company stock worth $19,580,698. 5.60% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. FMR LLC grew its position in shares of Ulta Beauty by 24.0% in the second quarter. FMR LLC now owns 948,576 shares of the specialty retailer’s stock valued at $221,454,000 after purchasing an additional 183,611 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Ulta Beauty by 4.1% in the second quarter. Wells Fargo & Company MN now owns 743,233 shares of the specialty retailer’s stock valued at $173,515,000 after purchasing an additional 29,590 shares during the last quarter. NN Investment Partners Holdings N.V. grew its position in shares of Ulta Beauty by 6.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 679,652 shares of the specialty retailer’s stock valued at $158,670,000 after purchasing an additional 42,710 shares during the last quarter. Bank of America Corp DE grew its position in shares of Ulta Beauty by 4.6% in the second quarter. Bank of America Corp DE now owns 580,901 shares of the specialty retailer’s stock valued at $135,617,000 after purchasing an additional 25,473 shares during the last quarter. Finally, Waddell & Reed Financial Inc. acquired a new position in shares of Ulta Beauty in the second quarter valued at approximately $125,933,000. Institutional investors own 90.71% of the company’s stock.

About Ulta Beauty

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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Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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