Ulta Beauty (NASDAQ:ULTA) has been assigned a consensus recommendation of “Buy” from the twenty-eight analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $245.10.
A number of equities research analysts recently commented on the stock. Vetr upgraded shares of Ulta Beauty from a “buy” rating to a “strong-buy” rating and set a $228.97 price objective for the company in a research report on Monday. Buckingham Research set a $270.00 price objective on shares of Ulta Beauty and gave the company a “buy” rating in a research report on Monday, March 19th. KeyCorp set a $270.00 price objective on shares of Ulta Beauty and gave the company a “buy” rating in a research report on Friday, March 16th. Loop Capital set a $250.00 price target on shares of Ulta Beauty and gave the company a “buy” rating in a research report on Friday, March 16th. Finally, BMO Capital Markets set a $220.00 price target on shares of Ulta Beauty and gave the company a “hold” rating in a research report on Thursday, March 15th.
NASDAQ:ULTA traded down $2.52 during mid-day trading on Wednesday, reaching $201.75. The stock had a trading volume of 630,412 shares, compared to its average volume of 1,305,870. The company has a market cap of $12,458.92, a P/E ratio of 24.64, a PEG ratio of 1.06 and a beta of 0.67. Ulta Beauty has a twelve month low of $187.96 and a twelve month high of $314.86.
Ulta Beauty declared that its Board of Directors has authorized a share buyback program on Thursday, March 15th that allows the company to buyback $625.00 million in shares. This buyback authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of ULTA. Captrust Financial Advisors purchased a new stake in Ulta Beauty in the 4th quarter worth approximately $153,000. ACG Wealth purchased a new stake in Ulta Beauty in the 4th quarter worth approximately $216,000. Sapphire Star Partners LP purchased a new stake in Ulta Beauty in the 4th quarter worth approximately $224,000. BancorpSouth Bank purchased a new stake in Ulta Beauty in the 4th quarter worth approximately $230,000. Finally, Bluestein R H & Co. purchased a new stake in Ulta Beauty in the 4th quarter worth approximately $233,000. 91.98% of the stock is owned by institutional investors and hedge funds.
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About Ulta Beauty
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores provide cosmetics, fragrance, skincare, haircare, bath and body products, and salon styling tools, as well as others, including nail products and accessories. It offers private label products consisting of Ulta Beauty Collection branded cosmetics, skincare, and bath products.
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