Cleveland Research Lowers Ulta Beauty Inc. (ULTA) to Neutral
Cleveland Research downgraded shares of Ulta Beauty Inc. (NASDAQ:ULTA) from a buy rating to a neutral rating in a report released on Thursday, Marketbeat reports. The firm currently has $314.00 target price on the specialty retailer’s stock, up from their previous target price of $189.50.
ULTA has been the topic of several other research reports. Piper Jaffray Companies restated an overweight rating and issued a $260.00 target price (down previously from $330.00) on shares of Ulta Beauty in a research note on Tuesday, September 5th. Robert W. Baird restated an outperform rating and issued a $295.00 target price (down previously from $335.00) on shares of Ulta Beauty in a research note on Friday, August 25th. They noted that the move was a valuation call. BMO Capital Markets restated an outperform rating and issued a $345.00 target price on shares of Ulta Beauty in a research note on Thursday, July 27th. Royal Bank Of Canada restated a hold rating and issued a $310.00 target price on shares of Ulta Beauty in a research note on Thursday, August 17th. Finally, KeyCorp restated a buy rating and issued a $270.00 target price (down previously from $300.00) on shares of Ulta Beauty in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $281.76.
Ulta Beauty (NASDAQ:ULTA) opened at 198.58 on Thursday. Ulta Beauty has a 12-month low of $187.96 and a 12-month high of $314.86. The firm has a market cap of $12.20 billion, a P/E ratio of 26.44 and a beta of 0.57. The company has a 50-day moving average price of $220.31 and a 200-day moving average price of $262.93.
Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, August 24th. The specialty retailer reported $1.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.05. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Ulta Beauty had a return on equity of 29.33% and a net margin of 8.84%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 EPS. On average, analysts predict that Ulta Beauty will post $8.44 earnings per share for the current year.
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In other Ulta Beauty news, Director Michael R. Macdonald bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $208.37 per share, with a total value of $416,740.00. Following the acquisition, the director now owns 6,224 shares of the company’s stock, valued at $1,296,894.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its stake in Ulta Beauty by 11.2% in the 1st quarter. Fifth Third Bancorp now owns 398 shares of the specialty retailer’s stock valued at $114,000 after purchasing an additional 40 shares during the period. Sun Life Financial INC boosted its stake in Ulta Beauty by 4,655.6% in the 2nd quarter. Sun Life Financial INC now owns 428 shares of the specialty retailer’s stock valued at $123,000 after purchasing an additional 419 shares during the period. FNY Partners Fund LP bought a new stake in Ulta Beauty in the 1st quarter valued at $142,000. Lazard Asset Management LLC bought a new stake in Ulta Beauty in the 2nd quarter valued at $157,000. Finally, QS Investors LLC boosted its stake in Ulta Beauty by 0.8% in the 2nd quarter. QS Investors LLC now owns 730 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 6 shares during the period. Institutional investors and hedge funds own 87.91% of the company’s stock.
Ulta Beauty Company Profile
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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