Ulta Beauty (ULTA) Earns Overweight Rating from Analysts at Atlantic Securities

Atlantic Securities began coverage on shares of Ulta Beauty (NASDAQ:ULTA) in a research note published on Tuesday, June 19th, Marketbeat reports. The brokerage issued an overweight rating and a $303.00 price target on the specialty retailer’s stock.

A number of other equities analysts have also commented on ULTA. Deutsche Bank set a $244.00 price objective on Ulta Beauty and gave the stock a hold rating in a research note on Monday, May 7th. Credit Suisse Group upped their price target on Ulta Beauty from $235.00 to $250.00 and gave the company an outperform rating in a research note on Friday, June 1st. Loop Capital set a $250.00 price target on Ulta Beauty and gave the company a buy rating in a research note on Friday, March 16th. KeyCorp set a $270.00 price target on Ulta Beauty and gave the company a buy rating in a research note on Friday, March 16th. Finally, Goldman Sachs Group lowered Ulta Beauty from a buy rating to a neutral rating and upped their price target for the company from $241.00 to $272.00 in a research note on Tuesday, June 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Ulta Beauty has an average rating of Buy and a consensus price target of $264.96.

Ulta Beauty stock opened at $233.46 on Tuesday. The firm has a market capitalization of $14.21 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.17 and a beta of 0.62. Ulta Beauty has a 52 week low of $187.96 and a 52 week high of $289.85.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, May 31st. The specialty retailer reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.22. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. Ulta Beauty had a return on equity of 32.15% and a net margin of 9.67%. The business’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.91 earnings per share. sell-side analysts expect that Ulta Beauty will post 10.84 EPS for the current year.

Ulta Beauty declared that its board has authorized a stock repurchase plan on Thursday, March 15th that authorizes the company to repurchase $625.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

In other Ulta Beauty news, CFO Scott M. Settersten sold 7,032 shares of the stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $253.09, for a total value of $1,779,728.88. Following the completion of the sale, the chief financial officer now directly owns 9,380 shares in the company, valued at $2,373,984.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mary N. Dillon sold 16,286 shares of the stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $206.99, for a total value of $3,371,039.14. Following the completion of the sale, the chief executive officer now owns 100,984 shares of the company’s stock, valued at $20,902,678.16. The disclosure for this sale can be found here. Insiders sold 121,718 shares of company stock worth $29,033,006 in the last three months. Insiders own 5.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Profund Advisors LLC increased its holdings in shares of Ulta Beauty by 3.8% in the first quarter. Profund Advisors LLC now owns 5,590 shares of the specialty retailer’s stock worth $1,142,000 after acquiring an additional 204 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Ulta Beauty by 11.2% in the first quarter. Alps Advisors Inc. now owns 2,305 shares of the specialty retailer’s stock worth $471,000 after acquiring an additional 232 shares in the last quarter. First Republic Investment Management Inc. increased its holdings in shares of 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 increased its holdings in shares of 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. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Ulta Beauty by 17.6% in the first quarter. Daiwa Securities Group Inc. now owns 1,960 shares of the specialty retailer’s stock worth $400,000 after acquiring an additional 294 shares in the last quarter. Institutional investors own 90.10% 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, 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.

Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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