Ulta Beauty (NASDAQ:ULTA) Downgraded to “Hold” at StockNews.com

Posted by on Jun 24th, 2022

StockNews.com cut shares of Ulta Beauty (NASDAQ:ULTA – Get Rating) from a buy rating to a hold rating in a research report report published on Thursday morning.

Several other brokerages have also commented on ULTA. JPMorgan Chase & Co. boosted their price objective on Ulta Beauty from $460.00 to $480.00 in a report on Friday, May 27th. Citigroup boosted their price objective on Ulta Beauty from $393.00 to $425.00 and gave the stock a neutral rating in a report on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft dropped their target price on Ulta Beauty from $522.00 to $466.00 in a research report on Wednesday, May 25th. Oppenheimer boosted their target price on Ulta Beauty from $470.00 to $485.00 and gave the stock an outperform rating in a research report on Friday, May 27th. Finally, Barclays boosted their target price on Ulta Beauty from $469.00 to $491.00 and gave the stock an overweight rating in a research report on Tuesday, May 31st. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $458.38.

ULTA stock opened at $395.91 on Thursday. The firm has a market capitalization of $20.52 billion, a PE ratio of 19.59, a PEG ratio of 1.88 and a beta of 1.54. Ulta Beauty has a twelve month low of $319.05 and a twelve month high of $438.63. The stock has a 50-day simple moving average of $397.65 and a two-hundred day simple moving average of $388.11.

Ulta Beauty (NASDAQ:ULTA – Get 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 $4.46 by $1.84. Ulta Beauty had a return on equity of 60.83% and a net margin of 12.03%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the firm earned $4.10 earnings per share. Ulta Beauty’s revenue was up 21.0% on a year-over-year basis. As a group, sell-side analysts expect that Ulta Beauty will post 20.07 EPS for the current fiscal year.

In other news, CFO Scott M. Settersten sold 32,532 shares of the stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $426.63, for a total value of $13,879,127.16. Following the sale, the chief financial officer now directly owns 14,037 shares of the company’s stock, valued at $5,988,605.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George R. Mrkonic, Jr. sold 476 shares of the stock in a transaction on Monday, June 13th. The stock was sold at an average price of $391.84, for a total value of $186,515.84. Following the completion of the sale, the director now directly owns 2,393 shares in the company, valued at $937,673.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,207 shares of company stock worth $19,411,502. Insiders own 2.00% of the company’s stock.

Large investors have recently made changes to their positions in the company. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in shares of Ulta Beauty during the fourth quarter valued at $25,000. North Star Investment Management Corp. bought a new position in shares of Ulta Beauty during the fourth quarter valued at $27,000. Parkside Financial Bank & Trust lifted its holdings in shares of 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 in the last quarter. Bank of New Hampshire bought a new position in shares of Ulta Beauty during the first quarter valued at $29,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Ulta Beauty by 525.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 75 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 63 shares in the last quarter. 89.20% of the stock is currently owned by hedge funds and other institutional investors.

Ulta Beauty Company Profile (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.

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