Ulta Beauty (NASDAQ:ULTA) Stock Price Up 11.2%

Ulta Beauty Inc (NASDAQ:ULTA)’s stock price rose 11.2% during mid-day trading on Wednesday . The company traded as high as $179.15 and last traded at $197.50, approximately 103,315 shares traded hands during mid-day trading. A decline of 94% from the average daily volume of 1,635,849 shares. The stock had previously closed at $177.59.

ULTA has been the subject of a number of analyst reports. Sanford C. Bernstein raised Ulta Beauty to a “hold” rating in a report on Friday, March 6th. Barclays boosted their price target on Ulta Beauty from $220.00 to $238.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Telsey Advisory Group reissued an “outperform” rating on shares of Ulta Beauty in a report on Monday, March 9th. Goldman Sachs Group raised Ulta Beauty from a “neutral” rating to a “buy” rating and boosted their price target for the company from $285.00 to $307.00 in a report on Monday, February 3rd. Finally, Morgan Stanley decreased their price target on Ulta Beauty from $275.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, March 17th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. Ulta Beauty has an average rating of “Hold” and a consensus price target of $264.21.

The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 1.81. The firm has a market capitalization of $10.15 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 0.88 and a beta of 1.10. The company has a 50 day moving average price of $247.33 and a two-hundred day moving average price of $247.98.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, March 12th. The specialty retailer reported $3.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.73 by $0.16. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.29 billion. Ulta Beauty had a return on equity of 36.75% and a net margin of 9.54%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.61 EPS. On average, equities analysts expect that Ulta Beauty Inc will post 12.64 earnings per share for the current fiscal year.

Ulta Beauty declared that its Board of Directors has authorized a stock buyback program on Thursday, March 12th that allows the company to buyback $1.60 billion in shares. This buyback authorization allows the specialty retailer to repurchase up to 12.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Several hedge funds have recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Ulta Beauty by 118.6% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,478 shares of the specialty retailer’s stock worth $3,665,000 after buying an additional 7,855 shares during the period. Quadrant Capital Group LLC raised its stake in Ulta Beauty by 383.0% in the 4th quarter. Quadrant Capital Group LLC now owns 227 shares of the specialty retailer’s stock valued at $53,000 after purchasing an additional 180 shares during the last quarter. Macquarie Group Ltd. raised its stake in Ulta Beauty by 158.8% in the 4th quarter. Macquarie Group Ltd. now owns 12,217 shares of the specialty retailer’s stock valued at $3,093,000 after purchasing an additional 7,497 shares during the last quarter. Franklin Resources Inc. raised its stake in Ulta Beauty by 14.6% in the 4th quarter. Franklin Resources Inc. now owns 405,756 shares of the specialty retailer’s stock valued at $102,713,000 after purchasing an additional 51,742 shares during the last quarter. Finally, Green Square Asset Management LLC raised its stake in Ulta Beauty by 45.4% in the 4th quarter. Green Square Asset Management LLC now owns 3,702 shares of the specialty retailer’s stock valued at $937,000 after purchasing an additional 1,156 shares during the last quarter. 88.44% of the stock is owned by institutional investors and hedge funds.

Ulta Beauty Company Profile (NASDAQ:ULTA)

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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