Ulta Beauty (NASDAQ:ULTA) Updates FY23 Earnings Guidance

Ulta Beauty (NASDAQ:ULTAGet Rating) updated its FY23 earnings guidance on Thursday. The company provided earnings per share guidance of $19.20-20.10 for the period, compared to the consensus earnings per share estimate of $18.60. The company issued revenue guidance of $9.35-9.55 billion, compared to the consensus revenue estimate of $9.16 billion.Ulta Beauty also updated its FY 2022 guidance to $19.20-$20.10 EPS.

A number of research firms have commented on ULTA. Zacks Investment Research upgraded Ulta Beauty from a hold rating to a buy rating and set a $450.00 price target on the stock in a research report on Wednesday, April 20th. StockNews.com started coverage on Ulta Beauty in a research report on Thursday, March 31st. They set a hold rating on the stock. Barclays upped their target price on Ulta Beauty from $440.00 to $469.00 and gave the company an overweight rating in a research report on Monday, March 14th. BMO Capital Markets upped their target price on Ulta Beauty from $365.00 to $385.00 and gave the company a market perform rating in a research report on Friday, March 11th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Ulta Beauty from $522.00 to $466.00 in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $446.32.

Shares of Ulta Beauty stock traded up $25.01 on Thursday, hitting $377.96. The company had a trading volume of 1,835,162 shares, compared to its average volume of 733,389. The stock has a market capitalization of $19.74 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 1.84 and a beta of 1.54. Ulta Beauty has a 1 year low of $319.05 and a 1 year high of $438.63. The stock has a 50 day moving average of $393.85 and a 200-day moving average of $386.72.

Ulta Beauty (NASDAQ:ULTAGet Rating) last issued its quarterly earnings data on Thursday, May 26th. The specialty retailer reported $6.30 EPS for the quarter, topping the consensus estimate of $4.43 by $1.87. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.12 billion. Ulta Beauty had a return on equity of 54.42% and a net margin of 11.42%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.10 earnings per share. As a group, analysts anticipate that Ulta Beauty will post 18.58 EPS for the current year.

In related news, insider Jodi J. Caro sold 5,340 shares of the stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $384.54, for a total transaction of $2,053,443.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ULTA. Parkside Financial Bank & Trust grew its holdings in Ulta Beauty by 59.1% during the first quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 26 shares during the period. Salem Investment Counselors Inc. grew its holdings in Ulta Beauty by 12.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 263 shares of the specialty retailer’s stock valued at $108,000 after purchasing an additional 30 shares during the period. Kinneret Advisory LLC grew its holdings in Ulta Beauty by 2.2% during the first quarter. Kinneret Advisory LLC now owns 1,526 shares of the specialty retailer’s stock valued at $608,000 after purchasing an additional 33 shares during the period. NEXT Financial Group Inc grew its holdings in Ulta Beauty by 8.6% during the fourth quarter. NEXT Financial Group Inc now owns 1,259 shares of the specialty retailer’s stock valued at $519,000 after purchasing an additional 100 shares during the period. Finally, Toroso Investments LLC grew its holdings in Ulta Beauty by 12.7% during the first quarter. Toroso Investments LLC now owns 1,017 shares of the specialty retailer’s stock valued at $405,000 after purchasing an additional 115 shares during the period. 89.20% of the stock is owned by institutional investors.

About Ulta Beauty (Get Rating)

Ulta Beauty, Inc operates as a retailer of beauty products in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; professional hair products; salon services, including hair, skin, makeup, and brow services; and nail services.

See Also

Earnings History and Estimates for Ulta Beauty (NASDAQ:ULTA)

Want More Great Investing Ideas?

Receive News & Ratings for Ulta Beauty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ulta Beauty and related companies with MarketBeat.com's FREE daily email newsletter.