Ulta Salon, Cosmetics & Fragrance Trading 14.1% Higher on Better-Than-Expected Earnings (ULTA)
Ulta Salon, Cosmetics & Fragrance (NASDAQ:ULTA) traded up 14.1% on Wednesday following a stronger than expected earnings report, AnalystRatings.NET reports. The company traded as high as $98.40 and last traded at $97.38, with a volume of 4,721,638 shares trading hands. The stock had previously closed at $85.31.
The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $713.80 million for the quarter, compared to the consensus estimate of $699.51 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 22.5% on a year-over-year basis.
ULTA has been the subject of a number of recent research reports. Analysts at Cowen and Company initiated coverage on shares of Ulta Salon, Cosmetics & Fragrance in a research note on Wednesday, May 7th. They set a “market perform” rating and a $98.00 price target on the stock. Separately, analysts at Goldman Sachs reiterated a “buy” rating on shares of Ulta Salon, Cosmetics & Fragrance in a research note on Monday, April 21st. Finally, analysts at Goldman Sachs upgraded shares of Ulta Salon, Cosmetics & Fragrance from a “neutral” rating to a “buy” rating in a research note on Thursday, March 20th. They now have a $118.00 price target on the stock, up previously from $107.00. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Ulta Salon, Cosmetics & Fragrance presently has an average rating of “Buy” and an average target price of $111.46.
The stock’s 50-day moving average is $86.79 and its 200-day moving average is $92.1. The company has a market cap of $6.293 billion and a price-to-earnings ratio of 27.08. Ulta Salon, Cosmetics & Fragrance also saw unusually large options trading activity on Tuesday. Traders acquired 31,669 call options on the stock. This represents an increase of 1,070% compared to the average volume of 2,706 call options.
Ulta Salon, Cosmetics & Fragrance, Inc (NASDAQ:ULTA) is a beauty retailer, which provides one-stop shopping for prestige, mass and salon products and salon services in the United States.
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