Ulta Beauty (NASDAQ:ULTA) Sees Strong Trading Volume After Strong Earnings

Posted by Defense World Staff on Aug 26th, 2023

Shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Get Free Report) saw unusually-strong trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 285,878 shares were traded during mid-day trading, a decline of 63% from the previous session’s volume of 764,585 shares.The stock last traded at $416.89 and had previously closed at $422.74.

The specialty retailer reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.85 by $0.17. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Ulta Beauty had a return on equity of 65.62% and a net margin of 11.98%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $5.70 EPS.

Analyst Ratings Changes

ULTA has been the subject of a number of research reports. Bank of America decreased their target price on Ulta Beauty from $540.00 to $490.00 in a report on Friday, May 26th. Stifel Nicolaus reduced their price target on Ulta Beauty from $525.00 to $475.00 in a research report on Friday, May 26th. Citigroup upped their target price on Ulta Beauty from $460.00 to $475.00 and gave the company a “neutral” rating in a research report on Friday, August 18th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Ulta Beauty in a research report on Friday. Finally, UBS Group upped their target price on Ulta Beauty from $590.00 to $640.00 in a research report on Thursday, May 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $545.58.

Read Our Latest Stock Analysis on ULTA

Insiders Place Their Bets

In other Ulta Beauty news, Director George R. Mrkonic, Jr. sold 393 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $421.30, for a total value of $165,570.90. Following the completion of the sale, the director now owns 2,397 shares in the company, valued at approximately $1,009,856.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Catherine Ann Halligan sold 400 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $450.00, for a total transaction of $180,000.00. Following the completion of the sale, the director now directly owns 2,165 shares of the company’s stock, valued at approximately $974,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George R. Mrkonic, Jr. sold 393 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $421.30, for a total value of $165,570.90. Following the sale, the director now directly owns 2,397 shares of the company’s stock, valued at $1,009,856.10. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Ulta Beauty

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Direct Indexing L.P. grew its stake in shares of Ulta Beauty by 3.4% during the first quarter. First Trust Direct Indexing L.P. now owns 575 shares of the specialty retailer’s stock worth $314,000 after purchasing an additional 19 shares during the period. Csenge Advisory Group lifted its holdings in Ulta Beauty by 1.3% during the first quarter. Csenge Advisory Group now owns 1,488 shares of the specialty retailer’s stock worth $812,000 after acquiring an additional 19 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Ulta Beauty by 51.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 59 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 20 shares in the last quarter. Ellevest Inc. lifted its holdings in Ulta Beauty by 10.0% during the first quarter. Ellevest Inc. now owns 221 shares of the specialty retailer’s stock worth $121,000 after acquiring an additional 20 shares in the last quarter. Finally, YHB Investment Advisors Inc. lifted its holdings in Ulta Beauty by 3.6% during the first quarter. YHB Investment Advisors Inc. now owns 568 shares of the specialty retailer’s stock worth $310,000 after acquiring an additional 20 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Ulta Beauty Stock Down 3.7 %

The company has a market capitalization of $20.28 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. The business has a fifty day moving average price of $455.46 and a 200 day moving average price of $488.39.

Ulta Beauty Company Profile

(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.