Wells Fargo & Co cut shares of Ulta Beauty (NASDAQ:ULTA) from an outperform rating to a market perform rating in a research note published on Friday morning, BenzingaRatingsTable reports. Wells Fargo & Co currently has $235.00 price target on the specialty retailer’s stock, down from their previous price target of $350.00.
ULTA has been the topic of several other research reports. Atlantic Securities lowered Ulta Beauty from an overweight rating to a neutral rating and dropped their price objective for the stock from $390.00 to $250.00 in a report on Friday. Guggenheim reaffirmed a buy rating and set a $375.00 price objective (up previously from $350.00) on shares of Ulta Beauty in a report on Tuesday, May 14th. BidaskClub lowered Ulta Beauty from a buy rating to a hold rating in a report on Tuesday, July 23rd. Piper Jaffray Companies set a $360.00 price objective on Ulta Beauty and gave the stock a buy rating in a report on Friday, May 31st. Finally, Morgan Stanley lowered Ulta Beauty from an overweight rating to an equal weight rating and dropped their price objective for the stock from $395.00 to $275.00 in a report on Friday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. Ulta Beauty presently has an average rating of Hold and a consensus price target of $305.48.
Shares of ULTA stock opened at $237.73 on Friday. The stock’s 50-day moving average is $332.87 and its two-hundred day moving average is $336.82. The firm has a market cap of $13.90 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.44 and a beta of 0.96. Ulta Beauty has a 1 year low of $224.43 and a 1 year high of $368.83. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.74 and a current ratio of 1.93.
Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $2.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.03). The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Ulta Beauty had a return on equity of 36.91% and a net margin of 9.86%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 EPS. As a group, research analysts predict that Ulta Beauty will post 12 EPS for the current year.
In other Ulta Beauty news, Director Sally E. Blount sold 315 shares of Ulta Beauty stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $359.28, for a total value of $113,173.20. Following the sale, the director now owns 989 shares of the company’s stock, valued at approximately $355,327.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lorna Nagler sold 2,000 shares of Ulta Beauty stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $354.03, for a total value of $708,060.00. Following the completion of the sale, the director now directly owns 8,368 shares in the company, valued at approximately $2,962,523.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,715 shares of company stock worth $958,441. Corporate insiders own 4.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Atria Investments LLC lifted its position in shares of Ulta Beauty by 20.2% during the 2nd quarter. Atria Investments LLC now owns 9,814 shares of the specialty retailer’s stock valued at $3,242,000 after acquiring an additional 1,647 shares during the period. BlackRock Inc. lifted its position in shares of Ulta Beauty by 5.3% during the 2nd quarter. BlackRock Inc. now owns 4,166,032 shares of the specialty retailer’s stock valued at $1,445,154,000 after acquiring an additional 207,927 shares during the period. Griffin Asset Management Inc. acquired a new stake in shares of Ulta Beauty during the 2nd quarter valued at approximately $124,000. UBS Group AG lifted its position in shares of Ulta Beauty by 59.1% during the 2nd quarter. UBS Group AG now owns 78,896 shares of the specialty retailer’s stock valued at $27,367,000 after acquiring an additional 29,294 shares during the period. Finally, Verition Fund Management LLC lifted its position in shares of Ulta Beauty by 131.3% during the 2nd quarter. Verition Fund Management LLC now owns 1,000 shares of the specialty retailer’s stock valued at $347,000 after acquiring an additional 4,200 shares during the period. 88.92% 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, skincare and haircare products, bath and body products, and salon styling tools; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.
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