Shares of Ulta Beauty Inc (NASDAQ:ULTA) hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The stock traded as high as $345.24 and last traded at $340.93, with a volume of 72609 shares. The stock had previously closed at $312.51.
The specialty retailer reported $3.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.56 by $0.05. Ulta Beauty had a return on equity of 33.75% and a net margin of 9.99%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the business earned $2.75 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year.
ULTA has been the subject of several recent analyst reports. BidaskClub upgraded Ulta Beauty from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 15th. Zacks Investment Research restated a “buy” rating and set a $316.00 target price on shares of Ulta Beauty in a research report on Saturday, November 17th. Nomura set a $305.00 target price on Ulta Beauty and gave the company a “buy” rating in a research report on Monday, November 26th. OTR Global upgraded Ulta Beauty to a “positive” rating in a research report on Thursday, November 29th. Finally, BMO Capital Markets set a $280.00 target price on Ulta Beauty and gave the company a “hold” rating in a research report on Friday, December 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $306.25.
The company has a market capitalization of $18.47 billion, a P/E ratio of 41.66, a P/E/G ratio of 1.33 and a beta of 1.01.
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About Ulta Beauty (NASDAQ:ULTA)
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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