Ulta Beauty (ULTA) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Ulta Beauty (NASDAQ:ULTA) from a hold rating to a buy rating in a research report report published on Friday morning.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Ulta Beauty from a buy rating to a hold rating in a report on Wednesday, August 1st. BidaskClub upgraded Ulta Beauty from a sell rating to a hold rating in a research note on Wednesday, August 22nd. Stifel Nicolaus dropped their price target on Ulta Beauty from $245.00 to $235.00 and set a hold rating for the company in a research note on Friday, August 31st. Loop Capital reiterated a hold rating and issued a $280.00 price target (up from $250.00) on shares of Ulta Beauty in a research note on Thursday, September 13th. Finally, Wells Fargo & Co set a $278.00 price target on Ulta Beauty and gave the company a buy rating in a research note on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $268.50.

Shares of ULTA stock traded up $8.07 during trading hours on Friday, reaching $275.64. The company’s stock had a trading volume of 1,026,523 shares, compared to its average volume of 1,077,717. The company has a market cap of $16.86 billion, a PE ratio of 33.78, a P/E/G ratio of 1.40 and a beta of 0.64. Ulta Beauty has a fifty-two week low of $187.96 and a fifty-two week high of $290.30.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, August 30th. The specialty retailer reported $2.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.41 by $0.05. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.49 billion. Ulta Beauty had a return on equity of 33.29% and a net margin of 9.91%. Analysts expect that Ulta Beauty will post 10.84 EPS for the current fiscal year.

In related news, Director Lorna Nagler sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $276.19, for a total transaction of $552,380.00. Following the completion of the transaction, the director now directly owns 7,923 shares of the company’s stock, valued at approximately $2,188,253.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis K. Eck sold 35,000 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $287.15, for a total value of $10,050,250.00. Following the transaction, the director now directly owns 361,294 shares of the company’s stock, valued at $103,745,572.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,407 shares of company stock valued at $19,580,698. 5.60% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. FMR LLC raised its position in Ulta Beauty by 24.0% during the 2nd quarter. FMR LLC now owns 948,576 shares of the specialty retailer’s stock worth $221,454,000 after purchasing an additional 183,611 shares during the last quarter. Wells Fargo & Company MN raised its position in Ulta Beauty by 4.1% during the 2nd quarter. Wells Fargo & Company MN now owns 743,233 shares of the specialty retailer’s stock worth $173,515,000 after purchasing an additional 29,590 shares during the last quarter. NN Investment Partners Holdings N.V. raised its position in Ulta Beauty by 6.7% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 679,652 shares of the specialty retailer’s stock worth $158,670,000 after purchasing an additional 42,710 shares during the last quarter. Bank of America Corp DE raised its position in Ulta Beauty by 4.6% during the 2nd quarter. Bank of America Corp DE now owns 580,901 shares of the specialty retailer’s stock worth $135,617,000 after purchasing an additional 25,473 shares during the last quarter. Finally, Waddell & Reed Financial Inc. acquired a new stake in Ulta Beauty during the 2nd quarter worth about $125,933,000. 90.71% of the stock is owned by institutional investors and hedge funds.

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.

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