Zacks Investment Research upgraded shares of Ulta Beauty (NASDAQ:ULTA) from a hold rating to a buy rating in a research report report published on Monday morning. They currently have $246.00 price target on the specialty retailer’s stock.
According to Zacks, “Ulta Beauty has portrayed a splendid surprise history. While third-quarter fiscal 2017 marked the 16th straight quarter of earnings beat, the sales trend reversed after surpassing consensus mark for 15 consecutive quarters. Nevertheless, the company’s top and bottom lines grew year over year. Results in the quarter were fueled by market share gains and benefits from the loyalty program. Effective marketing initiatives, strength in prestige cosmetics, sturdy e-commerce business and superb salon operations also aided results. Notably, the company recorded 62.9% growth in e-commerce sales, which helped it to stand out amid intense online competition. Additionally, traffic remained favorable, which drove comps. Management reaffirmed its guidance for fiscal 2017. However, the company has lagged the industry in last six monthsdue ot strained margins. Furthermore, stiff competition remains a threat.”
Several other equities research analysts also recently weighed in on ULTA. JPMorgan Chase & Co. boosted their target price on shares of Ulta Beauty from $270.00 to $300.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Cowen set a $246.00 target price on shares of Ulta Beauty and gave the stock a buy rating in a research report on Friday, December 1st. BMO Capital Markets set a $225.00 price objective on shares of Ulta Beauty and gave the company a hold rating in a research report on Friday, December 1st. KeyCorp set a $270.00 price objective on shares of Ulta Beauty and gave the company a buy rating in a research report on Sunday, December 3rd. Finally, Cleveland Research reaffirmed a hold rating on shares of Ulta Beauty in a research report on Tuesday, November 21st. Eleven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Ulta Beauty presently has an average rating of Buy and an average price target of $262.91.
Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, November 30th. The specialty retailer reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.03. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. Ulta Beauty had a net margin of 8.82% and a return on equity of 29.64%. sell-side analysts anticipate that Ulta Beauty will post 8.36 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of ULTA. GSA Capital Partners LLP acquired a new position in Ulta Beauty during the 2nd quarter valued at about $552,000. Dimensional Fund Advisors LP boosted its stake in Ulta Beauty by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 229,793 shares of the specialty retailer’s stock valued at $66,028,000 after purchasing an additional 15,792 shares during the period. QS Investors LLC boosted its stake in Ulta Beauty by 0.8% during the 2nd quarter. QS Investors LLC now owns 730 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 6 shares during the period. Janus Henderson Group PLC boosted its stake in Ulta Beauty by 448.8% during the 2nd quarter. Janus Henderson Group PLC now owns 115,762 shares of the specialty retailer’s stock valued at $33,264,000 after purchasing an additional 94,669 shares during the period. Finally, Green Square Capital LLC acquired a new position in Ulta Beauty during the 2nd quarter valued at about $386,000. 89.41% of the stock is owned by hedge funds and other institutional investors.
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About Ulta Beauty
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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