Ulta Beauty (NASDAQ:ULTA) Shares Gap Down to $519.68

Ulta Beauty, Inc. (NASDAQ:ULTAGet Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $519.68, but opened at $469.57. Ulta Beauty shares last traded at $464.42, with a volume of 437,925 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ULTA. Argus increased their price objective on Ulta Beauty from $500.00 to $545.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. JPMorgan Chase & Co. increased their price objective on shares of Ulta Beauty from $535.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Barclays increased their target price on Ulta Beauty from $583.00 to $612.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Raymond James lifted their price target on shares of Ulta Beauty from $575.00 to $630.00 and gave the stock a “strong-buy” rating in a report on Monday, March 18th. Finally, Jefferies Financial Group upped their target price on Ulta Beauty from $587.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $577.70.

Read Our Latest Analysis on Ulta Beauty

Ulta Beauty Trading Down 13.7 %

The firm has a 50-day moving average of $528.84 and a 200 day moving average of $465.14. The stock has a market capitalization of $21.65 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.09 and a beta of 1.30.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last released its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, topping analysts’ consensus estimates of $7.49 by $0.59. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the previous year, the firm earned $6.68 EPS. Ulta Beauty’s revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that Ulta Beauty, Inc. will post 26.94 EPS for the current fiscal year.

Ulta Beauty announced that its Board of Directors has approved a share repurchase plan on Thursday, March 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty retailer to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Ulta Beauty

In related news, COO Kecia Steelman sold 20,950 shares of Ulta Beauty stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total value of $11,027,870.50. Following the completion of the sale, the chief operating officer now owns 10,494 shares of the company’s stock, valued at approximately $5,523,936.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Catherine Ann Halligan sold 500 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total transaction of $263,130.00. Following the completion of the transaction, the director now directly owns 1,665 shares in the company, valued at approximately $876,222.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Kecia Steelman sold 20,950 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the transaction, the chief operating officer now owns 10,494 shares in the company, valued at approximately $5,523,936.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,552 shares of company stock valued at $12,920,326. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ulta Beauty

Several institutional investors and hedge funds have recently added to or reduced their stakes in ULTA. Turtle Creek Wealth Advisors LLC bought a new stake in Ulta Beauty in the 4th quarter valued at $25,000. Coppell Advisory Solutions LLC bought a new position in shares of Ulta Beauty during the second quarter valued at $26,000. Vima LLC acquired a new stake in shares of Ulta Beauty in the 4th quarter valued at $27,000. Ancora Advisors LLC bought a new stake in shares of Ulta Beauty in the 1st quarter worth about $31,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Ulta Beauty during the 1st quarter worth about $31,000. 90.39% of the stock is currently owned by institutional investors.

About Ulta Beauty

(Get Free Report)

Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.

Featured Stories

Receive News & Ratings for Ulta Beauty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ulta Beauty and related companies with MarketBeat.com's FREE daily email newsletter.