Ulta Beauty Inc. (ULTA) Stock Rating Lowered by Oppenheimer Holdings, Inc.
Ulta Beauty Inc. (NASDAQ:ULTA) was downgraded by equities researchers at Oppenheimer Holdings, Inc. from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday. They presently have a $270.00 price target on the specialty retailer’s stock, down from their previous price target of $330.00. Oppenheimer Holdings, Inc.’s price objective points to a potential upside of 7.72% from the stock’s previous close.
The analysts wrote, “softer commentary,” the analyst explained. For example, the company acknowledged the beauty market in the U.S. is “less than [even] last year due to a much [softer] mass market.” The company also said the beauty market has been “amazingly slow since January after a lively market in 2016.””If our read of L’Oreal’s assessment is accurate, this, coupled with increased department store discounting, could suggest a less robust US beauty market,”
Several other research firms also recently issued reports on ULTA. Edward Jones downgraded shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Buckingham Research downgraded shares of Ulta Beauty from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $325.00 to $330.00 in a research note on Friday, May 26th. Zacks Investment Research raised shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $301.00 price target on the stock in a research note on Thursday, July 13th. Stifel Nicolaus reaffirmed a “hold” rating and set a $325.00 price target (up previously from $305.00) on shares of Ulta Beauty in a research note on Tuesday, June 6th. Finally, Deutsche Bank AG set a $300.00 price target on shares of Ulta Beauty and gave the stock a “hold” rating in a research note on Sunday, May 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Ulta Beauty presently has an average rating of “Hold” and a consensus target price of $319.05.
Shares of Ulta Beauty (ULTA) traded up 0.74% during trading on Tuesday, hitting $250.64. 537,119 shares of the company were exchanged. Ulta Beauty has a 12 month low of $225.13 and a 12 month high of $314.86. The company’s 50-day moving average price is $268.07 and its 200 day moving average price is $280.09. The stock has a market cap of $15.55 billion, a P/E ratio of 35.20 and a beta of 0.57.
Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, May 25th. The specialty retailer reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.12. Ulta Beauty had a net margin of 8.75% and a return on equity of 28.91%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $1.45 EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, equities analysts predict that Ulta Beauty will post $8.32 earnings per share for the current fiscal year.
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In other news, Director Robert F. Diromualdo sold 20,000 shares of Ulta Beauty stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $309.05, for a total value of $6,181,000.00. Following the completion of the transaction, the director now directly owns 4,717 shares of the company’s stock, valued at approximately $1,457,788.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Catherine Ann Halligan sold 500 shares of Ulta Beauty stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $312.36, for a total transaction of $156,180.00. Following the completion of the transaction, the director now directly owns 4,126 shares of the company’s stock, valued at $1,288,797.36. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its position in Ulta Beauty by 11.2% in the first quarter. Fifth Third Bancorp now owns 398 shares of the specialty retailer’s stock valued at $114,000 after buying an additional 40 shares during the period. Crestwood Advisors Group LLC acquired a new position in Ulta Beauty during the first quarter valued at approximately $120,000. FNY Partners Fund LP acquired a new position in Ulta Beauty during the first quarter valued at approximately $142,000. NEXT Financial Group Inc raised its position in Ulta Beauty by 18.0% in the first quarter. NEXT Financial Group Inc now owns 565 shares of the specialty retailer’s stock valued at $159,000 after buying an additional 86 shares during the period. Finally, Copper Rock Capital Partners LLC raised its position in Ulta Beauty by 316.8% in the second quarter. Copper Rock Capital Partners LLC now owns 842 shares of the specialty retailer’s stock valued at $215,000 after buying an additional 640 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.
Ulta Beauty Company Profile
Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.
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