Ulta Beauty Inc. (NASDAQ:ULTA) was downgraded by equities researchers at Oppenheimer Holdings, Inc. from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday. They currently have a $270.00 target price on the specialty retailer’s stock, down from their previous target price of $330.00. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 7.72% from the company’s previous close.
The analysts wrote, “softer commentary,” the analyst explained. For example, the company acknowledged the beauty market in the U.S. is “less than [even] last year due to a much [softer] mass market.” The company also said the beauty market has been “amazingly slow since January after a lively market in 2016.””If our read of L’Oreal’s assessment is accurate, this, coupled with increased department store discounting, could suggest a less robust US beauty market,”
A number of other equities analysts have also commented on ULTA. Zacks Investment Research lowered shares of Ulta Beauty from a “hold” rating to a “sell” rating in a research report on Tuesday. Cowen and Company set a $336.00 target price on shares of Ulta Beauty and gave the stock a “buy” rating in a research report on Monday, July 31st. Royal Bank Of Canada set a $310.00 target price on shares of Ulta Beauty and gave the stock a “hold” rating in a research report on Sunday, May 28th. BMO Capital Markets reaffirmed an “outperform” rating and set a $345.00 target price on shares of Ulta Beauty in a research report on Thursday, July 27th. Finally, CIBC reaffirmed a “market perform” rating on shares of Ulta Beauty in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $319.05.
Ulta Beauty (NASDAQ ULTA) traded up 0.74% during mid-day trading on Tuesday, reaching $250.64. The company’s stock had a trading volume of 537,119 shares. Ulta Beauty has a one year low of $225.13 and a one year high of $314.86. The stock has a market cap of $15.55 billion, a P/E ratio of 35.20 and a beta of 0.57. The firm’s 50 day moving average is $268.07 and its 200-day moving average is $280.09.
Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, May 25th. The specialty retailer reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.12. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.28 billion. Ulta Beauty had a net margin of 8.75% and a return on equity of 28.91%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the company posted $1.45 earnings per share. Equities analysts expect that Ulta Beauty will post $8.32 earnings per share for the current fiscal year.
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In other Ulta Beauty news, Director Catherine Ann Halligan sold 500 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $312.36, for a total value of $156,180.00. Following the completion of the sale, the director now directly owns 4,126 shares in the company, valued at $1,288,797.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert F. Diromualdo sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $309.05, for a total transaction of $6,181,000.00. Following the completion of the sale, the director now owns 4,717 shares of the company’s stock, valued at $1,457,788.85. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of ULTA. Fifth Third Bancorp increased its stake in Ulta Beauty by 11.2% in the first quarter. Fifth Third Bancorp now owns 398 shares of the specialty retailer’s stock valued at $114,000 after buying an additional 40 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in Ulta Beauty during the first quarter valued at approximately $120,000. FNY Partners Fund LP bought a new stake in Ulta Beauty during the first quarter valued at approximately $142,000. NEXT Financial Group Inc increased its stake in Ulta Beauty by 18.0% in the first quarter. NEXT Financial Group Inc now owns 565 shares of the specialty retailer’s stock valued at $159,000 after buying an additional 86 shares during the last quarter. Finally, Copper Rock Capital Partners LLC increased its stake in Ulta Beauty by 316.8% in the second quarter. Copper Rock Capital Partners LLC now owns 842 shares of the specialty retailer’s stock valued at $215,000 after buying an additional 640 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.
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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