Ulta Beauty (NASDAQ:ULTA) Issues Quarterly Earnings Results, Beats Expectations By $1.84 EPS

Ulta Beauty (NASDAQ:ULTAGet Rating) posted its quarterly earnings data on Thursday. The specialty retailer reported $6.30 EPS for the quarter, beating the consensus estimate of $4.46 by $1.84, RTT News reports. Ulta Beauty had a net margin of 11.42% and a return on equity of 54.42%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the firm posted $4.10 EPS. The firm’s revenue was up 21.0% compared to the same quarter last year. Ulta Beauty updated its FY 2022 guidance to $19.20-$20.10 EPS and its FY23 guidance to $19.20-20.10 EPS.

NASDAQ ULTA opened at $377.96 on Friday. The company has a market capitalization of $19.74 billion, a P/E ratio of 20.99, a P/E/G ratio of 1.84 and a beta of 1.54. Ulta Beauty has a 12-month low of $319.05 and a 12-month high of $438.63. The firm has a 50-day moving average price of $393.85 and a two-hundred day moving average price of $386.72.

Several equities research analysts have commented on the stock. Jefferies Financial Group raised shares of Ulta Beauty from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Ulta Beauty from $460.00 to $480.00 in a research report on Friday. Piper Sandler boosted their price objective on shares of Ulta Beauty from $465.00 to $485.00 in a research note on Friday. BMO Capital Markets boosted their price objective on shares of Ulta Beauty from $365.00 to $385.00 and gave the stock a “market perform” rating in a research note on Friday, March 11th. Finally, Zacks Investment Research upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Wednesday, April 20th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $450.86.

In other Ulta Beauty news, insider Jodi J. Caro sold 5,340 shares of the business’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $384.54, for a total value of $2,053,443.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in shares of Ulta Beauty by 33.6% during the 1st quarter. Invesco Ltd. now owns 473,586 shares of the specialty retailer’s stock worth $188,593,000 after acquiring an additional 119,048 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ulta Beauty by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 5,886,434 shares of the specialty retailer’s stock worth $2,344,096,000 after acquiring an additional 40,190 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Ulta Beauty during the 1st quarter worth approximately $10,155,000. Kiwi Wealth Investments Limited Partnership bought a new stake in shares of Ulta Beauty during the 1st quarter worth approximately $5,223,000. Finally, Eaton Vance Management lifted its holdings in shares of Ulta Beauty by 7.8% during the 1st quarter. Eaton Vance Management now owns 143,933 shares of the specialty retailer’s stock worth $57,317,000 after acquiring an additional 10,363 shares during the period. 89.20% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History for Ulta Beauty (NASDAQ:ULTA)

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