BidaskClub Upgrades Ulta Beauty (ULTA) to “Buy”

Ulta Beauty (NASDAQ:ULTA) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Other research analysts have also issued reports about the stock. Telsey Advisory Group boosted their price target on shares of Ulta Beauty from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, October 1st. Loop Capital reiterated a “hold” rating and set a $280.00 price target (up from $250.00) on shares of Ulta Beauty in a research note on Thursday, September 13th. Piper Jaffray Companies set a $286.00 target price on shares of Ulta Beauty and gave the stock an “overweight” rating in a research report on Monday, October 22nd. ValuEngine lowered shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Friday, December 7th. Finally, Nomura set a $305.00 target price on shares of Ulta Beauty and gave the stock a “buy” rating in a research report on Monday, November 26th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $288.84.

Shares of Ulta Beauty stock traded up $0.72 on Wednesday, reaching $277.75. 7,640 shares of the stock were exchanged, compared to its average volume of 853,457. Ulta Beauty has a 1-year low of $191.70 and a 1-year high of $322.49. The firm has a market cap of $16.68 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, December 6th. The specialty retailer reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.02. Ulta Beauty had a net margin of 9.99% and a return on equity of 33.75%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the business posted $1.69 earnings per share. The business’s revenue was up 16.2% compared to the same quarter last year. Equities analysts forecast that Ulta Beauty will post 10.82 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rational Advisors LLC lifted its holdings in shares of Ulta Beauty by 539.7% in the third quarter. Rational Advisors LLC now owns 371 shares of the specialty retailer’s stock valued at $105,000 after purchasing an additional 313 shares in the last quarter. One Wealth Advisors LLC purchased a new position in shares of Ulta Beauty during the third quarter valued at approximately $112,000. Stratos Wealth Partners LTD. purchased a new position in shares of Ulta Beauty during the third quarter valued at approximately $151,000. Bridgewater Associates LP purchased a new position in shares of Ulta Beauty during the second quarter valued at approximately $201,000. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Ulta Beauty during the third quarter valued at approximately $203,000. 89.46% of the stock is currently owned by institutional investors.

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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