Ulta Beauty, Inc. (NASDAQ:ULTA – Get Rating) – Equities research analysts at Telsey Advisory Group issued their Q1 2024 earnings per share estimates for shares of Ulta Beauty in a note issued to investors on Tuesday, May 24th. Telsey Advisory Group analyst D. Telsey expects that the specialty retailer will earn $4.81 per share for the quarter. Telsey Advisory Group also issued estimates for Ulta Beauty’s Q1 2024 earnings at $4.81 EPS, Q2 2024 earnings at $4.59 EPS, Q3 2024 earnings at $4.75 EPS and Q4 2024 earnings at $6.52 EPS.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last released its earnings results on Thursday, March 10th. The specialty retailer reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.80. Ulta Beauty had a net margin of 11.42% and a return on equity of 54.42%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the company posted $3.41 EPS. The company’s revenue was up 24.1% compared to the same quarter last year.

A number of other analysts also recently weighed in on ULTA. Deutsche Bank Aktiengesellschaft cut their price target on shares of Ulta Beauty from $522.00 to $466.00 in a research report on Wednesday. Barclays upped their price objective on shares of Ulta Beauty from $440.00 to $469.00 and gave the company an “overweight” rating in a research report on Monday, March 14th. DA Davidson reduced their target price on Ulta Beauty from $500.00 to $450.00 in a report on Friday, March 11th. StockNews.com assumed coverage on Ulta Beauty in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded Ulta Beauty from a “hold” rating to a “buy” rating and set a $450.00 price objective on the stock in a report on Wednesday, April 20th. Nine equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $446.32.

Shares of ULTA opened at $342.08 on Wednesday. The stock has a market cap of $17.87 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 1.84 and a beta of 1.54. Ulta Beauty has a 1 year low of $317.13 and a 1 year high of $438.63. The stock’s 50-day moving average price is $394.80 and its two-hundred day moving average price is $387.03.

In other Ulta Beauty news, insider Jodi J. Caro sold 5,340 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $384.54, for a total value of $2,053,443.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Toroso Investments LLC boosted its position in shares of Ulta Beauty by 12.7% in the first quarter. Toroso Investments LLC now owns 1,017 shares of the specialty retailer’s stock valued at $405,000 after acquiring an additional 115 shares during the period. Orion Portfolio Solutions LLC raised its stake in Ulta Beauty by 13.9% in the 1st quarter. Orion Portfolio Solutions LLC now owns 1,067 shares of the specialty retailer’s stock worth $425,000 after purchasing an additional 130 shares in the last quarter. Range Financial Group LLC bought a new stake in Ulta Beauty in the 1st quarter valued at about $951,000. Wealthfront Advisers LLC grew its position in shares of Ulta Beauty by 45.2% during the 1st quarter. Wealthfront Advisers LLC now owns 1,777 shares of the specialty retailer’s stock worth $708,000 after purchasing an additional 553 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC bought a new position in shares of Ulta Beauty during the first quarter worth approximately $4,118,000. Hedge funds and other institutional investors own 89.20% of the company’s stock.

About Ulta Beauty (Get Rating)

Ulta Beauty, Inc operates as a retailer of beauty products in the United States. The company’s stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; professional hair products; salon services, including hair, skin, makeup, and brow services; and nail services.

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