Ulta Beauty’s (ULTA) Buy Rating Reaffirmed at Piper Jaffray Companies
Piper Jaffray Companies reiterated their buy rating on shares of Ulta Beauty Inc. (NASDAQ:ULTA) in a research report report published on Sunday morning. Piper Jaffray Companies currently has a $260.00 price target on the specialty retailer’s stock.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Ulta Beauty from a hold rating to a buy rating and set a $301.00 price objective for the company in a research note on Thursday, July 13th. Stifel Nicolaus reaffirmed a hold rating and issued a $325.00 target price (up previously from $305.00) on shares of Ulta Beauty in a research report on Tuesday, June 6th. Morgan Stanley lowered their target price on Ulta Beauty from $313.00 to $245.00 and set an equal weight rating on the stock in a research report on Monday, August 28th. Guggenheim assumed coverage on Ulta Beauty in a report on Tuesday, June 13th. They set a neutral rating on the stock. Finally, Deutsche Bank AG reiterated a hold rating and set a $300.00 target price on shares of Ulta Beauty in a report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company’s stock. Ulta Beauty has a consensus rating of Hold and an average price target of $281.63.
Ulta Beauty (ULTA) opened at 226.06 on Friday. Ulta Beauty has a 12-month low of $204.01 and a 12-month high of $314.86. The firm’s 50-day moving average price is $233.76 and its 200 day moving average price is $271.14. The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of 30.09 and a beta of 0.57.
Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $1.83 EPS for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. Ulta Beauty had a net margin of 8.84% and a return on equity of 29.33%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. On average, equities research analysts expect that Ulta Beauty will post $8.39 EPS for the current fiscal year.
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In other news, Director Michael R. Macdonald bought 2,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average price of $208.37 per share, with a total value of $416,740.00. Following the completion of 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 SEC, which is available at the SEC website. 5.20% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in ULTA. Iberiabank Corp increased its position in Ulta Beauty by 9.2% during the second quarter. Iberiabank Corp now owns 4,549 shares of the specialty retailer’s stock worth $1,307,000 after acquiring an additional 383 shares during the period. Principal Financial Group Inc. boosted its holdings in Ulta Beauty by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 94,590 shares of the specialty retailer’s stock valued at $26,981,000 after purchasing an additional 405 shares during the period. Covenant Asset Management LLC boosted its holdings in Ulta Beauty by 1.9% in the 2nd quarter. Covenant Asset Management LLC now owns 3,676 shares of the specialty retailer’s stock valued at $1,056,000 after purchasing an additional 70 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ulta Beauty by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 214,001 shares of the specialty retailer’s stock valued at $61,039,000 after purchasing an additional 5,854 shares during the period. Finally, Azimuth Capital Management LLC boosted its holdings in Ulta Beauty by 1.3% in the 1st quarter. Azimuth Capital Management LLC now owns 41,364 shares of the specialty retailer’s stock valued at $11,798,000 after purchasing an additional 520 shares during the period. Institutional investors and hedge funds own 87.91% of the company’s stock.
About Ulta Beauty
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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