Ulta Beauty (ULTA) Earns Buy Rating from Analysts at Argus

Equities researchers at Argus assumed coverage on shares of Ulta Beauty (NASDAQ:ULTA) in a research note issued on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $310.00 price target on the specialty retailer’s stock. Argus’ price target points to a potential upside of 13.37% from the stock’s previous close.

ULTA has been the topic of several other reports. BidaskClub raised shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. OTR Global downgraded shares of Ulta Beauty to a “positive” rating in a research note on Wednesday, August 22nd. UBS Group lifted their target price on shares of Ulta Beauty from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Stifel Nicolaus decreased their target price on shares of Ulta Beauty from $250.00 to $245.00 and set a “hold” rating on the stock in a research note on Friday, August 24th. Finally, Jefferies Financial Group set a $285.00 target price on shares of Ulta Beauty and gave the stock a “buy” rating in a research note on Monday, July 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Ulta Beauty has an average rating of “Buy” and an average target price of $270.16.

Shares of NASDAQ ULTA opened at $273.44 on Wednesday. Ulta Beauty has a 52 week low of $191.70 and a 52 week high of $290.30. The firm has a market capitalization of $16.85 billion, a P/E ratio of 33.51, a PEG ratio of 1.40 and a beta of 0.64.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, August 30th. The specialty retailer reported $2.46 EPS for the quarter, topping the consensus estimate of $2.41 by $0.05. Ulta Beauty had a net margin of 9.91% and a return on equity of 33.29%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.49 billion. As a group, analysts anticipate that Ulta Beauty will post 10.84 EPS for the current year.

In other news, Director Lorna Nagler sold 2,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $276.19, for a total transaction of $552,380.00. Following the sale, the director now owns 7,923 shares in the company, valued at approximately $2,188,253.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dennis K. Eck sold 31,278 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $285.88, for a total transaction of $8,941,754.64. Following the sale, the director now owns 334,778 shares in the company, valued at approximately $95,706,334.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,407 shares of company stock worth $19,580,698. Company insiders own 5.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Huntington National Bank boosted its holdings in shares of Ulta Beauty by 120.0% during the 2nd quarter. Huntington National Bank now owns 440 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 240 shares in the last quarter. Altman Advisors Inc. boosted its holdings in shares of Ulta Beauty by 315.5% during the 2nd quarter. Altman Advisors Inc. now owns 32,854 shares of the specialty retailer’s stock valued at $142,000 after buying an additional 24,947 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Ulta Beauty during the 2nd quarter valued at $151,000. Dupont Capital Management Corp bought a new stake in shares of Ulta Beauty during the 2nd quarter valued at $162,000. Finally, Bridgewater Associates LP bought a new stake in shares of Ulta Beauty during the 2nd quarter valued at $201,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

About Ulta Beauty

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

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Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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