Moran Wealth Management LLC cut its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,337 shares of the specialty retailer’s stock after selling 80 shares during the quarter. Moran Wealth Management LLC’s holdings in Ulta Beauty were worth $1,570,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of ULTA. WealthPlan Investment Management LLC acquired a new stake in Ulta Beauty in the second quarter worth $26,000. Parkside Financial Bank & Trust grew its holdings 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 purchasing an additional 26 shares during the period. BOKF NA acquired a new stake in Ulta Beauty in the first quarter worth $30,000. Ancora Advisors LLC acquired a new stake in Ulta Beauty in the first quarter worth $31,000. Finally, Fortis Capital Advisors LLC bought a new position in shares of Ulta Beauty in the first quarter valued at $31,000. 92.30% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Ulta Beauty in a research note on Tuesday, November 7th. They issued an “outperform” rating and a $460.00 price objective on the stock. Raymond James dropped their price objective on shares of Ulta Beauty from $550.00 to $500.00 and set a “strong-buy” rating on the stock in a research note on Monday, October 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $540.00 price objective on shares of Ulta Beauty in a research note on Friday, August 25th. Telsey Advisory Group reiterated an “outperform” rating and issued a $600.00 target price on shares of Ulta Beauty in a research note on Thursday, August 31st. Finally, Piper Sandler reduced their target price on shares of Ulta Beauty from $575.00 to $540.00 in a research note on Tuesday, October 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $530.35.
Ulta Beauty Price Performance
ULTA stock opened at $405.61 on Tuesday. Ulta Beauty, Inc. has a one year low of $368.02 and a one year high of $556.60. The stock has a market cap of $19.97 billion, a PE ratio of 16.28, a P/E/G ratio of 1.79 and a beta of 1.36. The firm has a 50 day simple moving average of $392.70 and a two-hundred day simple moving average of $431.69.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.85 by $0.17. Ulta Beauty had a net margin of 11.77% and a return on equity of 63.51%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company earned $5.70 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, research analysts expect that Ulta Beauty, Inc. will post 25.45 EPS for the current fiscal year.
Ulta Beauty Profile
Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.
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