Ulta Beauty, Inc. (NASDAQ:ULTA – Get Rating) – Equities researchers at Telsey Advisory Group boosted their Q3 2023 earnings estimates for shares of Ulta Beauty in a research note issued to investors on Wednesday, November 23rd. Telsey Advisory Group analyst D. Telsey now anticipates that the specialty retailer will post earnings per share of $4.09 for the quarter, up from their previous forecast of $3.83. Telsey Advisory Group currently has a “Outperform” rating and a $510.00 price objective on the stock. The consensus estimate for Ulta Beauty’s current full-year earnings is $21.21 per share. Telsey Advisory Group also issued estimates for Ulta Beauty’s FY2023 earnings at $21.33 EPS and FY2024 earnings at $22.88 EPS.
Ulta Beauty (NASDAQ:ULTA – Get Rating) last released its quarterly earnings results on Thursday, August 25th. The specialty retailer reported $5.70 earnings per share for the quarter, topping the consensus estimate of $4.96 by $0.74. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Ulta Beauty had a net margin of 12.08% and a return on equity of 64.33%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.56 earnings per share.
Ulta Beauty Stock Down 0.6 %
ULTA opened at $447.37 on Thursday. The business’s fifty day simple moving average is $410.02 and its 200 day simple moving average is $402.06. Ulta Beauty has a 52 week low of $330.80 and a 52 week high of $451.48. The stock has a market cap of $22.91 billion, a PE ratio of 20.95, a P/E/G ratio of 1.52 and a beta of 1.32.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. CI Investments Inc. boosted its stake in shares of Ulta Beauty by 1,016.7% during the 3rd quarter. CI Investments Inc. now owns 67 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 61 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Ulta Beauty by 59.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 26 shares during the period. Private Capital Group LLC lifted its position in shares of Ulta Beauty by 265.0% during the second quarter. Private Capital Group LLC now owns 73 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 53 shares during the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Ulta Beauty during the third quarter valued at $30,000. Finally, AllSquare Wealth Management LLC grew its holdings in shares of Ulta Beauty by 188.5% in the third quarter. AllSquare Wealth Management LLC now owns 75 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 89.20% of the company’s stock.
Insider Activity at Ulta Beauty
In other Ulta Beauty news, insider Anita Jane Ryan sold 594 shares of Ulta Beauty stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $440.53, for a total value of $261,674.82. Following the sale, the insider now owns 2,482 shares of the company’s stock, valued at approximately $1,093,395.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ulta Beauty news, insider Anita Jane Ryan sold 594 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $440.53, for a total transaction of $261,674.82. Following the sale, the insider now directly owns 2,482 shares of the company’s stock, valued at $1,093,395.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Catherine Ann Halligan sold 276 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $445.86, for a total value of $123,057.36. Following the sale, the director now owns 2,168 shares in the company, valued at $966,624.48. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Ulta Beauty Company Profile
Ulta Beauty, Inc engages in the retail of beauty products. The company has one reportable segment, which includes retail stores, salon services, and e-commerce. Its products include makeup, skin care, tools and brushes, fragrance, and bath and body. Ulta was founded on January 9, 1990, and is headquartered in Bolingbrook, IL.
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