Sciencast Management LP boosted its stake in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 74.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,751 shares of the specialty retailer’s stock after acquiring an additional 2,457 shares during the quarter. Ulta Beauty makes up 0.7% of Sciencast Management LP’s investment portfolio, making the stock its 28th biggest position. Sciencast Management LP’s holdings in Ulta Beauty were worth $1,343,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors purchased a new position in Ulta Beauty during the fourth quarter worth about $153,000. Optimum Investment Advisors purchased a new position in Ulta Beauty during the first quarter worth about $163,000. ACG Wealth purchased a new position in Ulta Beauty during the fourth quarter worth about $216,000. Sapphire Star Partners LP purchased a new position in Ulta Beauty during the fourth quarter worth about $224,000. Finally, BancorpSouth Bank purchased a new position in Ulta Beauty during the fourth quarter worth about $230,000. 91.00% of the stock is owned by institutional investors.
Several research analysts have weighed in on ULTA shares. BidaskClub lowered shares of Ulta Beauty from a “hold” rating to a “sell” rating in a research note on Saturday, February 17th. ValuEngine lowered shares of Ulta Beauty from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Vetr lowered shares of Ulta Beauty from a “strong-buy” rating to a “buy” rating and set a $218.16 target price for the company. in a research note on Tuesday, March 6th. Morgan Stanley reaffirmed a “buy” rating on shares of Ulta Beauty in a research note on Wednesday, March 7th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $214.00 target price on shares of Ulta Beauty in a research note on Friday, March 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Ulta Beauty has an average rating of “Buy” and an average price target of $263.38.
Shares of NASDAQ:ULTA opened at $245.92 on Thursday. The company has a market capitalization of $15.16 billion, a P/E ratio of 30.14, a PEG ratio of 1.25 and a beta of 0.62. Ulta Beauty Inc has a fifty-two week low of $187.96 and a fifty-two week high of $303.51.
Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, May 31st. The specialty retailer reported $2.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.48 by $0.22. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Ulta Beauty had a net margin of 9.67% and a return on equity of 32.15%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 earnings per share. equities analysts forecast that Ulta Beauty Inc will post 10.84 EPS for the current year.
Ulta Beauty announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 15th that permits the company to repurchase $625.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Ulta Beauty Profile
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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