EP Wealth Advisors LLC Makes New Investment in Ulta Beauty, Inc. (NASDAQ:ULTA)

Posted by on Sep 19th, 2023

EP Wealth Advisors LLC acquired a new position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,802 shares of the specialty retailer’s stock, valued at approximately $249,000.

Several other hedge funds have also modified their holdings of the stock. Ahrens Investment Partners LLC acquired a new position in shares of Ulta Beauty during the first quarter worth about $27,000. BOKF NA purchased a new position in Ulta Beauty in the first quarter worth approximately $30,000. Grey Fox Wealth Advisors LLC acquired a new position in Ulta Beauty during the 4th quarter worth approximately $26,000. Ancora Advisors LLC purchased a new stake in shares of Ulta Beauty in the 1st quarter valued at approximately $31,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Ulta Beauty in the 1st quarter valued at $31,000. 92.30% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Down 1.4 %

Shares of NASDAQ:ULTA opened at $407.89 on Tuesday. Ulta Beauty, Inc. has a 52 week low of $373.80 and a 52 week high of $556.60. The company has a 50-day moving average price of $440.89 and a 200 day moving average price of $476.35. The company has a market cap of $20.08 billion, a P/E ratio of 16.37, a PEG ratio of 1.84 and a beta of 1.34.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last posted its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $6.02 EPS for the quarter, beating the consensus estimate of $5.85 by $0.17. Ulta Beauty had a return on equity of 63.51% and a net margin of 11.77%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm earned $5.70 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Analysts expect that Ulta Beauty, Inc. will post 25.38 EPS for the current year.

Analyst Upgrades and Downgrades

ULTA has been the topic of several recent analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $600.00 target price on shares of Ulta Beauty in a report on Thursday, August 31st. Wells Fargo & Company boosted their target price on Ulta Beauty from $350.00 to $375.00 and gave the stock an “underweight” rating in a research note on Friday, August 25th. StockNews.com assumed coverage on shares of Ulta Beauty in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Oppenheimer restated an “outperform” rating and set a $540.00 price objective on shares of Ulta Beauty in a research report on Friday, August 25th. Finally, Morgan Stanley dropped their target price on shares of Ulta Beauty from $520.00 to $480.00 and set an “equal weight” rating on the stock in a research report on Monday, August 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ulta Beauty has an average rating of “Moderate Buy” and an average price target of $545.13.

View Our Latest Stock Analysis on Ulta Beauty

About Ulta Beauty

(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.

Further Reading

Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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