Ulta Beauty (NASDAQ:ULTA) Lifted to “Buy” at Jefferies Financial Group

Ulta Beauty (NASDAQ:ULTAGet Rating) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, The Fly reports.

Several other analysts also recently commented on ULTA. StockNews.com started coverage on shares of Ulta Beauty in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Credit Suisse Group reaffirmed a “buy” rating and set a $455.00 target price on shares of Ulta Beauty in a report on Friday, March 11th. Piper Sandler dropped their target price on shares of Ulta Beauty from $475.00 to $465.00 and set an “overweight” rating for the company in a report on Tuesday, April 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Ulta Beauty from $522.00 to $466.00 in a report on Wednesday. Finally, Zacks Investment Research raised shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, April 20th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $449.05.

NASDAQ ULTA opened at $377.96 on Friday. The stock has a market capitalization of $19.74 billion, a PE ratio of 20.99, a P/E/G ratio of 1.84 and a beta of 1.54. The business has a 50 day simple moving average of $393.85 and a two-hundred day simple moving average of $386.72. Ulta Beauty has a 1-year low of $319.05 and a 1-year high of $438.63.

Ulta Beauty (NASDAQ:ULTAGet Rating) last posted its quarterly earnings data on Thursday, May 26th. The specialty retailer reported $6.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $1.87. Ulta Beauty had a return on equity of 54.42% and a net margin of 11.42%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the previous year, the business earned $4.10 EPS. Ulta Beauty’s revenue was up 21.0% compared to the same quarter last year. Equities analysts predict that Ulta Beauty will post 18.58 EPS for the current fiscal year.

In other news, insider Jodi J. Caro sold 5,340 shares of the business’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $384.54, for a total transaction of $2,053,443.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Ulta Beauty by 4.4% during the 1st quarter. Signaturefd LLC now owns 617 shares of the specialty retailer’s stock worth $246,000 after purchasing an additional 26 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Ulta Beauty by 59.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 26 shares during the period. J2 Capital Management Inc boosted its holdings in Ulta Beauty by 3.7% in the 1st quarter. J2 Capital Management Inc now owns 817 shares of the specialty retailer’s stock worth $325,000 after acquiring an additional 29 shares during the period. Greytown Advisors Inc. boosted its holdings in Ulta Beauty by 2.7% in the 3rd quarter. Greytown Advisors Inc. now owns 1,157 shares of the specialty retailer’s stock worth $418,000 after acquiring an additional 30 shares during the period. Finally, Salem Investment Counselors Inc. boosted its holdings in Ulta Beauty by 12.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 263 shares of the specialty retailer’s stock worth $108,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 89.20% of the company’s stock.

About Ulta Beauty (Get Rating)

Ulta Beauty, Inc operates as a retailer of beauty products in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; professional hair products; salon services, including hair, skin, makeup, and brow services; and nail services.

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