Ulta Beauty has been making headlines recently as equities researchers at Argus raised its target price from $530.00 to $600.00, indicating a potential upside of 10.84% from the company’s previous close. This was in line with other equities analysts, such as DA Davidson and Piper Sandler, who also raised their price objectives on the company. Ulta Beauty engages in the retail of beauty products, with its products including makeup, skincare, tools and brushes, fragrance, and bath and body. The company operates retail stores, salon services, and e-commerce platforms. Ulta Beauty reported $6.68 earnings per share for the quarter ended March 9th, beating analysts’ consensus estimates of $5.53 by $1.15. The company had revenue of $3.23 billion during the quarter, up 18.2% from the previous year.
Ulta Beauty’s success has attracted the attention of investors and insiders alike. Insider Jodi J. Caro sold 4,500 shares of the stock for $2,279,925.00, while Director Mike C. Smith sold 400 shares for $208,652.00. However, several large investors, including Institute for Wealth Management LLC and Bradley Foster & Sargent Inc. CT, have recently modified their holdings of the stock. In fact, 90.47% of the stock is owned by institutional investors and hedge funds.
While Ulta Beauty currently has a “Moderate Buy” rating among analysts, top-rated analysts have identified five stocks that they believe are better buys. It’s important to keep track of Wall Street’s top-rated and best-performing research analysts and the stocks they recommend to their clients on a daily basis.
Ulta Beauty has a market cap of $27.17 billion, a PE ratio of 22.54, a PEG ratio of 1.72, and a beta of 1.30. The stock traded up $4.93 during trading hours on Friday, reaching $541.30, with 111,094 shares of the stock exchanged. The company has a twelve month low of $330.80 and a twelve month high of $543.40. The stock has a 50-day moving average of $518.86 and a 200-day moving average of $465.42. Equities research analysts anticipate that Ulta Beauty will post 25.21 earnings per share for the current year.
