Ulta Beauty (NASDAQ:ULTA) Trading Down 2.6% on Disappointing Earnings

Shares of Ulta Beauty, Inc. (NASDAQ:ULTA) dropped 2.6% during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $342.00 and last traded at $358.10. Approximately 2,249,840 shares changed hands during mid-day trading, an increase of 150% from the average daily volume of 900,702 shares. The stock had previously closed at $367.58.

The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the firm posted $6.02 EPS. The company’s revenue was up .9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Evercore ISI decreased their target price on Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday. Raymond James lowered Ulta Beauty from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $500.00 to $450.00 in a report on Friday. Jefferies Financial Group cut their target price on Ulta Beauty from $438.00 to $412.00 and set a “hold” rating for the company in a research note on Friday, May 24th. Oppenheimer decreased their price target on shares of Ulta Beauty from $450.00 to $435.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Canaccord Genuity Group lowered their price target on Ulta Beauty from $522.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ulta Beauty currently has a consensus rating of “Moderate Buy” and a consensus target price of $445.96.

Insider Buying and Selling

In other Ulta Beauty news, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total value of $252,642.00. Following the sale, the insider now owns 6,801 shares of the company’s stock, valued at approximately $2,643,412.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ulta Beauty news, Director Catherine Ann Halligan sold 100 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total transaction of $39,008.00. Following the sale, the director now directly owns 2,017 shares of the company’s stock, valued at approximately $786,791.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jodi J. Caro sold 650 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the completion of the transaction, the insider now owns 6,801 shares of the company’s stock, valued at approximately $2,643,412.68. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Ulta Beauty

Several large investors have recently made changes to their positions in ULTA. UMB Bank n.a. raised its stake in Ulta Beauty by 83.3% in the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 30 shares during the period. Vima LLC acquired a new position in shares of Ulta Beauty during the 4th quarter worth approximately $27,000. Riverview Trust Co acquired a new stake in Ulta Beauty during the 1st quarter valued at $30,000. Sound Income Strategies LLC boosted its position in Ulta Beauty by 490.0% during the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 49 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Ulta Beauty in the first quarter valued at $31,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Ulta Beauty Stock Down 2.8 %

The company’s fifty day simple moving average is $373.05 and its 200 day simple moving average is $427.73. The stock has a market capitalization of $17.05 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.75 and a beta of 1.37.

Ulta Beauty Company Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.