Jefferies Financial Group Research Analysts Increase Earnings Estimates for Ulta Beauty, Inc. (NASDAQ:ULTA)

Ulta Beauty, Inc. (NASDAQ:ULTA – Get Rating) – Investment analysts at Jefferies Financial Group upped their Q1 2024 earnings per share estimates for shares of Ulta Beauty in a research report issued to clients and investors on Thursday, March 9th. Jefferies Financial Group analyst A. Helgans now forecasts that the specialty retailer will post earnings of $6.89 per share for the quarter, up from their prior forecast of $6.69. The consensus estimate for Ulta Beauty’s current full-year earnings is $25.23 per share. Jefferies Financial Group also issued estimates for Ulta Beauty’s Q2 2024 earnings at $6.32 EPS, FY2024 earnings at $25.13 EPS, Q1 2025 earnings at $7.65 EPS, Q2 2025 earnings at $7.06 EPS and FY2025 earnings at $27.97 EPS.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last announced its earnings results on Thursday, March 9th. The specialty retailer reported $6.68 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $1.15. Ulta Beauty had a return on equity of 68.55% and a net margin of 12.17%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the business earned $5.41 EPS. The company’s revenue was up 18.2% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the company. Oppenheimer boosted their target price on Ulta Beauty from $535.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th. Stifel Nicolaus upped their price objective on Ulta Beauty from $475.00 to $525.00 in a research note on Friday. Piper Sandler upped their price objective on Ulta Beauty from $570.00 to $610.00 in a research note on Friday. Argus upped their price objective on Ulta Beauty from $455.00 to $530.00 in a research note on Thursday, January 5th. Finally, JPMorgan Chase & Co. upped their price objective on Ulta Beauty to $535.00 in a research note on Monday, November 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $554.00.

Ulta Beauty Stock Up 0.2 %

Shares of NASDAQ ULTA opened at $521.18 on Monday. Ulta Beauty has a twelve month low of $330.80 and a twelve month high of $537.52. The stock’s 50 day moving average price is $510.17 and its 200-day moving average price is $456.89. The company has a market capitalization of $26.52 billion, a PE ratio of 21.70, a PEG ratio of 1.56 and a beta of 1.30.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ULTA. Prudential PLC bought a new position in shares of Ulta Beauty in the first quarter worth $425,000. Vanguard Group Inc. grew its position in Ulta Beauty by 0.7% in the first quarter. Vanguard Group Inc. now owns 5,886,434 shares of the specialty retailer’s stock worth $2,344,096,000 after acquiring an additional 40,190 shares in the last quarter. Baird Financial Group Inc. grew its position in Ulta Beauty by 2.8% in the first quarter. Baird Financial Group Inc. now owns 8,299 shares of the specialty retailer’s stock worth $3,305,000 after acquiring an additional 223 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Ulta Beauty by 38.6% in the first quarter. Loomis Sayles & Co. L P now owns 1,117 shares of the specialty retailer’s stock worth $444,000 after acquiring an additional 311 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Ulta Beauty by 59.1% in the first quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 26 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

Ulta Beauty Company Profile

(Get Rating)

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.