Ulta Beauty (NASDAQ:ULTA) Sees Unusually-High Trading Volume

Ulta Beauty, Inc. (NASDAQ:ULTAGet Free Report) saw an uptick in trading volume on Friday . 477,070 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 643,067 shares.The stock last traded at $517.82 and had previously closed at $523.55.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ULTA. Stifel Nicolaus increased their price target on shares of Ulta Beauty from $505.00 to $565.00 and gave the stock a “hold” rating in a report on Friday, March 15th. UBS Group lifted their target price on shares of Ulta Beauty from $575.00 to $690.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Oppenheimer reiterated an “outperform” rating and set a $525.00 target price on shares of Ulta Beauty in a research report on Friday, December 1st. Loop Capital lifted their target price on shares of Ulta Beauty from $530.00 to $540.00 and gave the company a “hold” rating in a research report on Friday, March 15th. Finally, Piper Sandler lifted their target price on shares of Ulta Beauty from $635.00 to $665.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ulta Beauty has an average rating of “Moderate Buy” and a consensus price target of $579.81.

Get Our Latest Stock Analysis on Ulta Beauty

Ulta Beauty Stock Performance

The stock’s 50-day simple moving average is $523.00 and its 200-day simple moving average is $459.71. The firm has a market capitalization of $25.27 billion, a PE ratio of 19.98, a P/E/G ratio of 2.06 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last issued its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.49 by $0.59. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.53 billion. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.68 EPS. As a group, analysts predict that Ulta Beauty, Inc. will post 26.94 earnings per share for the current fiscal year.

Ulta Beauty declared that its Board of Directors has initiated a share buyback plan on Thursday, March 14th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Ulta Beauty

In other news, COO Kecia Steelman sold 20,950 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the sale, the chief operating officer now owns 10,494 shares in the company, valued at approximately $5,523,936.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Catherine Ann Halligan sold 500 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total transaction of $263,130.00. Following the sale, the director now owns 1,665 shares in the company, valued at approximately $876,222.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Kecia Steelman sold 20,950 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the completion of the transaction, the chief operating officer now owns 10,494 shares in the company, valued at approximately $5,523,936.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,552 shares of company stock valued at $12,920,326. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ulta Beauty

A number of hedge funds have recently bought and sold shares of ULTA. Turtle Creek Wealth Advisors LLC bought a new position in Ulta Beauty in the 4th quarter worth about $25,000. Loomis Sayles & Co. L P lifted its stake in Ulta Beauty by 364.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 51 shares during the period. Coppell Advisory Solutions LLC bought a new position in Ulta Beauty during the 2nd quarter valued at about $26,000. Vima LLC bought a new position in Ulta Beauty during the 4th quarter valued at about $27,000. Finally, BKM Wealth Management LLC bought a new position in Ulta Beauty during the 4th quarter valued at about $28,000. Institutional investors own 92.30% of the company’s stock.

Ulta Beauty Company Profile

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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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