Argus Downgrades Ulta Beauty (NASDAQ:ULTA) to Hold

Argus downgraded shares of Ulta Beauty (NASDAQ:ULTA) from a buy rating to a hold rating in a research report released on Monday morning, Marketbeat.com reports.

A number of other brokerages have also weighed in on ULTA. StockNews.com upgraded Ulta Beauty from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. Piper Sandler decreased their price target on shares of Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. DA Davidson dropped their price objective on shares of Ulta Beauty from $510.00 to $415.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Canaccord Genuity Group decreased their target price on shares of Ulta Beauty from $538.00 to $526.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Finally, Oppenheimer upped their price target on Ulta Beauty from $505.00 to $515.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $427.61.

Ulta Beauty Stock Up 1.3 %

ULTA stock opened at $366.25 on Monday. Ulta Beauty has a 52 week low of $309.01 and a 52 week high of $460.00. The firm has a 50-day simple moving average of $359.24 and a 200-day simple moving average of $383.03. The stock has a market capitalization of $16.59 billion, a P/E ratio of 14.66, a P/E/G ratio of 0.89 and a beta of 1.16.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, topping the consensus estimate of $7.13 by $1.33. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.47 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. Ulta Beauty’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $8.08 EPS. On average, analysts expect that Ulta Beauty will post 23.96 earnings per share for the current year.

Insider Activity at Ulta Beauty

In related news, insider Jodi J. Caro sold 902 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total value of $332,982.32. Following the sale, the insider now owns 7,632 shares of the company’s stock, valued at $2,817,429.12. This trade represents a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ulta Beauty

A number of large investors have recently modified their holdings of ULTA. Prestige Wealth Management Group LLC increased its holdings in Ulta Beauty by 121.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 34 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Ulta Beauty during the 1st quarter worth about $29,000. Westside Investment Management Inc. increased its holdings in shares of Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 50 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Ulta Beauty by 118.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 45 shares during the last quarter. Finally, Edge Capital Group LLC purchased a new stake in Ulta Beauty during the fourth quarter worth approximately $33,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.