Oppenheimer Weighs in on Ulta Beauty Inc’s Q2 2020 Earnings (ULTA)
Ulta Beauty Inc (NASDAQ:ULTA) – Oppenheimer lowered their Q2 2020 EPS estimates for shares of Ulta Beauty in a research note issued on Thursday, May 30th. Oppenheimer analyst R. Parikh now forecasts that the specialty retailer will post earnings of $2.76 per share for the quarter, down from their prior estimate of $2.77. Oppenheimer has a “Outperform” rating and a $370.00 price objective on the stock. Oppenheimer also issued estimates for Ulta Beauty’s Q4 2020 earnings at $4.30 EPS and FY2020 earnings at $12.93 EPS.
Other equities research analysts have also recently issued research reports about the company. Morgan Stanley boosted their price target on Ulta Beauty from $355.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Guggenheim reaffirmed a “buy” rating and set a $375.00 target price (up previously from $350.00) on shares of Ulta Beauty in a research report on Tuesday, May 14th. Robert W. Baird reaffirmed an “outperform” rating and set a $395.00 target price (up previously from $365.00) on shares of Ulta Beauty in a research report on Thursday, April 18th. Piper Jaffray Companies upped their target price on Ulta Beauty from $362.00 to $378.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Zacks Investment Research raised Ulta Beauty from a “hold” rating to a “buy” rating and set a $384.00 target price for the company in a research report on Monday, May 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $343.05.
Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, May 30th. The specialty retailer reported $3.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.06 by $0.02. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Ulta Beauty had a return on equity of 37.07% and a net margin of 9.92%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.70 EPS.
In other news, Director Catherine Ann Halligan sold 704 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $342.97, for a total transaction of $241,450.88. Following the completion of the transaction, the director now directly owns 10,423 shares in the company, valued at $3,574,776.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dennis K. Eck sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $352.83, for a total value of $3,528,300.00. Following the transaction, the director now owns 220,000 shares of the company’s stock, valued at $77,622,600. The disclosure for this sale can be found here. Insiders have sold 426,250 shares of company stock valued at $143,394,373 in the last ninety days. Company insiders own 5.60% of the company’s stock.
Several hedge funds have recently modified their holdings of ULTA. FMR LLC lifted its holdings in shares of Ulta Beauty by 52.6% during the fourth quarter. FMR LLC now owns 1,961,393 shares of the specialty retailer’s stock worth $480,228,000 after buying an additional 675,832 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Ulta Beauty by 189.8% during the fourth quarter. Two Sigma Advisers LP now owns 784,145 shares of the specialty retailer’s stock worth $191,990,000 after buying an additional 513,582 shares during the last quarter. Norges Bank acquired a new position in shares of Ulta Beauty during the fourth quarter worth approximately $125,214,000. Hexavest Inc. acquired a new position in shares of Ulta Beauty during the first quarter worth approximately $75,684,000. Finally, American Century Companies Inc. acquired a new position in shares of Ulta Beauty during the fourth quarter worth approximately $46,445,000. Institutional investors own 88.21% 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, skincare and haircare products, bath and body products, and salon styling tools; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.
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