Ulta Beauty (NASDAQ:ULTA) Cut to Hold at Argus

Argus cut shares of Ulta Beauty (NASDAQ:ULTA) from a buy rating to a hold rating in a report published on Monday, MarketBeat reports.

ULTA has been the subject of several other research reports. B. Riley decreased their price target on shares of Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Piper Sandler decreased their target price on Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Stifel Nicolaus dropped their price target on Ulta Beauty from $475.00 to $400.00 and set a “hold” rating on the stock in a research report on Friday, March 14th. DA Davidson decreased their price objective on Ulta Beauty from $510.00 to $415.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $500.00 target price on shares of Ulta Beauty in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $427.61.

Ulta Beauty Trading Down 2.4 %

NASDAQ ULTA opened at $349.59 on Monday. Ulta Beauty has a 12 month low of $309.01 and a 12 month high of $460.00. The stock has a 50-day simple moving average of $357.86 and a 200 day simple moving average of $382.63. The company has a market capitalization of $15.84 billion, a PE ratio of 13.99, a P/E/G ratio of 0.89 and a beta of 1.16.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, beating analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the business posted $8.08 EPS. Ulta Beauty’s revenue was down 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Insider Activity

In other Ulta Beauty news, insider Jodi J. Caro sold 902 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total transaction of $332,982.32. Following the transaction, the insider now owns 7,632 shares of the company’s stock, valued at $2,817,429.12. The trade was a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors acquired a new stake in Ulta Beauty during the 4th quarter valued at $430,674,000. Norges Bank acquired a new stake in shares of Ulta Beauty during the 4th quarter worth about $239,432,000. Marshall Wace LLP boosted its holdings in shares of Ulta Beauty by 10,336.7% during the 4th quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer’s stock worth $199,681,000 after buying an additional 454,711 shares during the period. GAMMA Investing LLC grew its stake in Ulta Beauty by 38,770.6% in the 1st quarter. GAMMA Investing LLC now owns 443,513 shares of the specialty retailer’s stock valued at $162,565,000 after buying an additional 442,372 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Ulta Beauty in the 4th quarter valued at about $73,780,000. 90.39% of the stock is currently owned by institutional investors.

Ulta Beauty Company Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.