Ulta Beauty, Inc. (NASDAQ:ULTA – Get Free Report)’s stock price dropped 0.4% during mid-day trading on Monday after Evercore ISI lowered their price target on the stock from $500.00 to $430.00. Evercore ISI currently has an outperform rating on the stock. Ulta Beauty traded as low as $377.00 and last traded at $377.01. Approximately 219,024 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 877,576 shares. The stock had previously closed at $378.65.
Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price target on Ulta Beauty from $530.00 to $544.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Stifel Nicolaus reduced their price objective on Ulta Beauty from $565.00 to $475.00 and set a “hold” rating for the company in a research report on Tuesday, May 14th. Barclays decreased their price objective on shares of Ulta Beauty from $394.00 to $355.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Piper Sandler cut shares of Ulta Beauty from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $494.00 to $404.00 in a research report on Wednesday, July 24th. Finally, Bank of America decreased their price target on Ulta Beauty from $575.00 to $425.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $488.96.
Insider Activity at Ulta Beauty
In related news, Director Catherine Ann Halligan sold 100 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the completion of the sale, the director now 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 SEC, which is available through this hyperlink. In related news, insider Jodi J. Caro sold 650 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total value of $252,642.00. Following the transaction, the insider now owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $39,008.00. Following the completion of the sale, the director now directly owns 2,017 shares of the company’s stock, valued at $786,791.36. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in ULTA. Norges Bank acquired a new position in Ulta Beauty in the 4th quarter valued at about $263,192,000. Global Assets Advisory LLC bought a new stake in Ulta Beauty in the first quarter valued at $176,753,000. TD Asset Management Inc grew its stake in shares of Ulta Beauty by 177.8% in the fourth quarter. TD Asset Management Inc now owns 407,347 shares of the specialty retailer’s stock worth $199,596,000 after purchasing an additional 260,740 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Ulta Beauty by 210.4% during the first quarter. Los Angeles Capital Management LLC now owns 271,550 shares of the specialty retailer’s stock worth $141,988,000 after purchasing an additional 184,060 shares during the period. Finally, Hsbc Holdings PLC grew its stake in Ulta Beauty by 87.3% during the 2nd quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock valued at $130,380,000 after acquiring an additional 157,497 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.
Ulta Beauty Price Performance
The stock has a market capitalization of $17.82 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.73 and a beta of 1.37. The stock’s 50 day simple moving average is $373.87 and its 200-day simple moving average is $430.24.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last posted its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.19 by $0.28. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.88 earnings per share. As a group, equities research analysts anticipate that Ulta Beauty, Inc. will post 25.62 earnings per share for the current fiscal year.
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.