Traders Buy Ulta Beauty Inc. (ULTA) on Weakness on Analyst Downgrade
Traders bought shares of Ulta Beauty Inc. (NASDAQ:ULTA) on weakness during trading on Friday after KeyCorp lowered their price target on the stock from $330.00 to $300.00. $467.10 million flowed into the stock on the tick-up and $449.49 million flowed out of the stock on the tick-down, for a money net flow of $17.61 million into the stock. Of all companies tracked, Ulta Beauty had the 19th highest net in-flow for the day. Ulta Beauty traded down ($21.35) for the day and closed at $212.36
Other equities analysts also recently issued research reports about the company. Buckingham Research downgraded Ulta Beauty from a “buy” rating to a “neutral” rating and boosted their target price for the company from $325.00 to $330.00 in a research report on Friday, May 26th. Piper Jaffray Companies set a $333.00 target price on Ulta Beauty and gave the company a “buy” rating in a research report on Saturday, May 27th. Royal Bank Of Canada set a $310.00 target price on Ulta Beauty and gave the company a “hold” rating in a research report on Sunday, May 28th. BMO Capital Markets downgraded Ulta Beauty from an “outperform” rating to a “market perform” rating and cut their target price for the company from $345.00 to $235.00 in a research report on Friday. Finally, Telsey Advisory Group cut their target price on Ulta Beauty from $360.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $294.32.
In related news, Director Catherine Ann Halligan sold 500 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $312.36, for a total transaction of $156,180.00. Following the completion of the sale, the director now directly owns 4,126 shares in the company, valued at approximately $1,288,797.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Diromualdo sold 20,000 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $309.05, for a total value of $6,181,000.00. Following the sale, the director now owns 4,717 shares of the company’s stock, valued at $1,457,788.85. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in shares of Ulta Beauty by 11.2% in the first quarter. Fifth Third Bancorp now owns 398 shares of the specialty retailer’s stock worth $114,000 after buying an additional 40 shares during the period. Sun Life Financial INC boosted its stake in shares of Ulta Beauty by 4,655.6% in the second quarter. Sun Life Financial INC now owns 428 shares of the specialty retailer’s stock worth $123,000 after buying an additional 419 shares during the period. FNY Partners Fund LP bought a new stake in shares of Ulta Beauty during the first quarter worth $142,000. Lazard Asset Management LLC bought a new stake in shares of Ulta Beauty during the second quarter worth $157,000. Finally, NEXT Financial Group Inc boosted its stake in shares of Ulta Beauty by 18.0% in the first quarter. NEXT Financial Group Inc now owns 565 shares of the specialty retailer’s stock worth $159,000 after buying an additional 86 shares during the period. Hedge funds and other institutional investors own 85.68% of the company’s stock.
The firm has a 50 day moving average price of $249.47 and a 200 day moving average price of $277.02. The company has a market capitalization of $13.17 billion, a PE ratio of 29.82 and a beta of 0.57. Ulta Beauty also was the recipient of some unusual options trading on Thursday. Investors purchased 23,425 put options on the stock. This represents an increase of 769% compared to the typical volume of 2,696 put options.
Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.05. Ulta Beauty had a return on equity of 28.91% and a net margin of 8.75%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm earned $1.43 EPS. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities analysts anticipate that Ulta Beauty Inc. will post $8.32 earnings per share for the current fiscal year.
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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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