BlueMountain Capital Management LLC Purchases New Stake in Ulta Beauty Inc (ULTA)
BlueMountain Capital Management LLC purchased a new position in shares of Ulta Beauty Inc (NASDAQ:ULTA) during the second quarter, HoldingsChannel.com reports. The fund purchased 946 shares of the specialty retailer’s stock, valued at approximately $221,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank raised its position in shares of Ulta Beauty by 120.0% during the second quarter. Huntington National Bank now owns 440 shares of the specialty retailer’s stock worth $103,000 after purchasing an additional 240 shares during the period. Altman Advisors Inc. raised its position in shares of Ulta Beauty by 315.5% during the second quarter. Altman Advisors Inc. now owns 32,854 shares of the specialty retailer’s stock worth $142,000 after purchasing an additional 24,947 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of Ulta Beauty during the second quarter worth about $151,000. Dupont Capital Management Corp acquired a new stake in shares of Ulta Beauty during the second quarter worth about $162,000. Finally, Capital One National Association acquired a new stake in shares of Ulta Beauty during the second quarter worth about $205,000. 90.65% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on ULTA shares. BidaskClub raised Ulta Beauty from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Zacks Investment Research lowered Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Buckingham Research lifted their target price on Ulta Beauty from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, May 30th. ValuEngine raised Ulta Beauty from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 10th. Finally, UBS Group dropped their target price on Ulta Beauty from $290.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, August 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $267.92.
NASDAQ:ULTA opened at $280.77 on Monday. The company has a market cap of $16.78 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 1.39 and a beta of 0.73. Ulta Beauty Inc has a twelve month low of $187.96 and a twelve month high of $290.30.
Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, August 30th. The specialty retailer reported $2.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.05. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. Ulta Beauty had a return on equity of 33.29% and a net margin of 9.91%. sell-side analysts forecast that Ulta Beauty Inc will post 10.84 earnings per share for the current fiscal year.
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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