Ulta Beauty (NASDAQ:ULTA) Sets New 12-Month Low – Time to Sell?

Ulta Beauty, Inc. (NASDAQ:ULTA) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $317.70 and last traded at $318.12, with a volume of 542505 shares. The stock had previously closed at $329.23.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Canaccord Genuity Group dropped their price target on Ulta Beauty from $538.00 to $526.00 and set a “buy” rating on the stock in a research report on Friday. Piper Sandler cut their price target on Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a research note on Friday. BMO Capital Markets lowered their price objective on shares of Ulta Beauty from $467.00 to $404.00 and set a “market perform” rating on the stock in a research report on Friday. Bank of America cut their price objective on shares of Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Wells Fargo & Company lowered their target price on shares of Ulta Beauty from $360.00 to $310.00 and set an “underweight” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $431.13.

Ulta Beauty Trading Up 13.7 %

The business has a 50 day moving average of $385.01 and a 200-day moving average of $386.69. The stock has a market cap of $16.58 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.13 by $1.33. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.47 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $8.08 earnings per share. On average, equities research analysts anticipate that Ulta Beauty, Inc. will post 23.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

Institutional investors have recently modified their holdings of the company. Impax Asset Management Group plc lifted its stake in shares of Ulta Beauty by 11.8% during the 3rd quarter. Impax Asset Management Group plc now owns 93,419 shares of the specialty retailer’s stock worth $36,351,000 after purchasing an additional 9,863 shares during the period. Sigma Planning Corp lifted its position in Ulta Beauty by 49.2% during the third quarter. Sigma Planning Corp now owns 1,159 shares of the specialty retailer’s stock worth $451,000 after buying an additional 382 shares during the period. Apollon Wealth Management LLC boosted its stake in Ulta Beauty by 44.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,399 shares of the specialty retailer’s stock worth $544,000 after buying an additional 432 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Ulta Beauty by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,909 shares of the specialty retailer’s stock valued at $43,546,000 after buying an additional 1,687 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Ulta Beauty by 24.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 9,907 shares of the specialty retailer’s stock valued at $3,855,000 after acquiring an additional 1,977 shares during the last quarter. Institutional investors and hedge funds 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.