Ulta Beauty (NASDAQ:ULTA) has been given a $270.00 price target by equities researchers at KeyCorp in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the specialty retailer’s stock. KeyCorp’s price target would indicate a potential upside of 21.69% from the stock’s previous close.
ULTA has been the topic of a number of other reports. Buckingham Research raised Ulta Beauty from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a research note on Tuesday, December 19th. They noted that the move was a valuation call. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $230.00 price target on shares of Ulta Beauty in a research note on Monday, January 22nd. Loop Capital set a $300.00 price target on Ulta Beauty and gave the stock a “buy” rating in a research note on Monday, November 27th. Wells Fargo set a $297.00 price target on Ulta Beauty and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, Vetr raised Ulta Beauty from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $253.35.
Ulta Beauty (ULTA) opened at $221.88 on Friday. The firm has a market capitalization of $12,572.97, a PE ratio of 24.71, a P/E/G ratio of 1.02 and a beta of 0.62. Ulta Beauty has a 1-year low of $187.96 and a 1-year high of $314.86.
Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, March 15th. The specialty retailer reported $2.75 EPS for the quarter, missing the Zacks’ consensus estimate of $2.77 by ($0.02). The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ulta Beauty had a return on equity of 31.06% and a net margin of 9.44%. Ulta Beauty’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $2.24 earnings per share. analysts anticipate that Ulta Beauty will post 10.45 EPS for the current year.
Ulta Beauty announced that its board has authorized a stock buyback plan on Thursday, March 15th that permits the company to buyback $625.00 million in outstanding shares. This buyback authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
A number of institutional investors have recently added to or reduced their stakes in the business. First Republic Investment Management Inc. boosted its holdings in Ulta Beauty by 17.4% in the fourth quarter. First Republic Investment Management Inc. now owns 1,660 shares of the specialty retailer’s stock worth $371,000 after acquiring an additional 246 shares in the last quarter. Meadow Creek Investment Management LLC boosted its holdings in Ulta Beauty by 9.5% in the fourth quarter. Meadow Creek Investment Management LLC now owns 2,912 shares of the specialty retailer’s stock worth $651,000 after acquiring an additional 252 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Ulta Beauty by 12.8% in the third quarter. Pacer Advisors Inc. now owns 2,405 shares of the specialty retailer’s stock worth $544,000 after acquiring an additional 273 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Ulta Beauty by 0.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 39,677 shares of the specialty retailer’s stock worth $8,969,000 after acquiring an additional 290 shares in the last quarter. Finally, Norinchukin Bank The boosted its holdings in Ulta Beauty by 7.4% in the third quarter. Norinchukin Bank The now owns 4,344 shares of the specialty retailer’s stock worth $982,000 after acquiring an additional 298 shares in the last quarter. 91.96% of the stock is currently owned by institutional investors and hedge funds.
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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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