Ulta Beauty (NASDAQ:ULTA) Issues FY 2024 Earnings Guidance

Ulta Beauty (NASDAQ:ULTA) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 26.200-27.000 for the period, compared to the consensus estimate of 26.800. The company issued revenue guidance of $11.7 billion-$11.8 billion, compared to the consensus revenue estimate of $11.8 billion.

Analyst Ratings Changes

Several research firms have recently issued reports on ULTA. UBS Group upped their price target on shares of Ulta Beauty from $575.00 to $690.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. Evercore ISI decreased their price objective on shares of Ulta Beauty from $656.00 to $635.00 and set an outperform rating for the company in a report on Friday, March 15th. Wells Fargo & Company lowered their price target on Ulta Beauty from $450.00 to $350.00 and set an underweight rating on the stock in a report on Wednesday, April 24th. BMO Capital Markets upped their target price on shares of Ulta Beauty from $485.00 to $540.00 and gave the company a market perform rating in a research note on Friday, March 15th. Finally, Oppenheimer decreased their price objective on shares of Ulta Beauty from $600.00 to $500.00 and set an outperform rating for the company in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ulta Beauty presently has an average rating of Moderate Buy and an average target price of $548.05.

Ulta Beauty Stock Up 0.0 %

Shares of ULTA stock opened at $397.39 on Monday. The company’s fifty day simple moving average is $486.30 and its two-hundred day simple moving average is $470.17. Ulta Beauty has a 52 week low of $368.02 and a 52 week high of $574.76. The stock has a market cap of $19.05 billion, a P/E ratio of 15.25, a PEG ratio of 1.63 and a beta of 1.36.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, topping analysts’ consensus estimates of $7.49 by $0.59. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.53 billion. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $6.68 earnings per share. On average, analysts anticipate that Ulta Beauty will post 26.55 EPS for the current fiscal year.

Ulta Beauty announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Ulta Beauty

In other Ulta Beauty news, COO Kecia Steelman sold 20,950 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 10,494 shares in the company, valued at $5,523,936.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ulta Beauty 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 transaction, the chief operating officer now owns 10,494 shares in the company, valued at $5,523,936.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Catherine Ann Halligan sold 500 shares of the 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 completion of the sale, the director now directly owns 1,665 shares in the company, valued at approximately $876,222.90. The disclosure for this sale can be found here. Insiders have sold a total of 24,552 shares of company stock valued at $12,920,326 over the last 90 days. 0.39% of the stock is owned by corporate insiders.

About Ulta Beauty

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.