Ulta Beauty (NASDAQ:ULTA) Sees Large Volume Increase – Should You Buy?

Ulta Beauty, Inc. (NASDAQ:ULTA) saw unusually-high trading volume on Wednesday . Approximately 637,677 shares were traded during trading, a decline of 33% from the previous session’s volume of 956,567 shares.The stock last traded at $361.49 and had previously closed at $369.49.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ULTA. UBS Group reduced their target price on Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Bank of America reduced their price target on shares of Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating on the stock in a research note on Friday, August 30th. Raymond James dropped their target price on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating on the stock in a research note on Monday. DA Davidson decreased their price target on shares of Ulta Beauty from $507.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Finally, StockNews.com upgraded Ulta Beauty from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Ulta Beauty has an average rating of “Hold” and an average target price of $423.71.

Ulta Beauty Stock Performance

The company has a 50 day moving average of $372.98 and a two-hundred day moving average of $388.43. The stock has a market capitalization of $17.52 billion, a PE ratio of 14.92, a P/E/G ratio of 2.12 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business earned $6.02 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts predict that Ulta Beauty, Inc. will post 23.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ULTA. UMB Bank n.a. increased its holdings in shares of Ulta Beauty by 83.3% in the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares during the period. Riverview Trust Co purchased a new position in Ulta Beauty during the 1st quarter worth approximately $30,000. Sound Income Strategies LLC raised its position in Ulta Beauty by 490.0% during the 1st quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock worth $31,000 after buying an additional 49 shares during the last quarter. LRI Investments LLC acquired a new stake in Ulta Beauty during the 1st quarter valued at approximately $31,000. Finally, Innealta Capital LLC purchased a new stake in shares of Ulta Beauty in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Company Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.