Ulta Beauty (NASDAQ:ULTA) Updates FY 2022 Earnings Guidance

Ulta Beauty (NASDAQ:ULTA – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $19.20-$20.10 for the period, compared to the consensus earnings per share estimate of $18.66. The company issued revenue guidance of $9.35 billion-$9.55 billion, compared to the consensus revenue estimate of $9.18 billion.

A number of analysts have recently weighed in on the stock. Credit Suisse Group raised their price target on shares of Ulta Beauty from $475.00 to $485.00 and gave the company an outperform rating in a report on Wednesday, June 15th. StockNews.com upgraded shares of Ulta Beauty from a hold rating to a buy rating in a research note on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Ulta Beauty from $522.00 to $466.00 in a research note on Wednesday, May 25th. JPMorgan Chase & Co. lifted their price objective on shares of Ulta Beauty from $460.00 to $480.00 in a research note on Friday, May 27th. Finally, Piper Sandler lifted their price objective on shares of Ulta Beauty from $465.00 to $485.00 and gave the company an overweight rating in a research note on Friday, May 27th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ulta Beauty currently has a consensus rating of Moderate Buy and an average target price of $458.38.

ULTA stock traded down $3.22 during midday trading on Thursday, reaching $393.00. 23,763 shares of the company were exchanged, compared to its average volume of 1,013,767. Ulta Beauty has a 1-year low of $319.05 and a 1-year high of $438.63. The stock’s 50-day simple moving average is $398.05 and its 200 day simple moving average is $388.07. The company has a market cap of $20.37 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 1.88 and a beta of 1.54.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last announced its earnings results on Thursday, May 26th. The specialty retailer reported $6.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $1.84. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.12 billion. Ulta Beauty had a net margin of 12.03% and a return on equity of 60.83%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the firm posted $4.10 earnings per share. As a group, sell-side analysts predict that Ulta Beauty will post 20.07 EPS for the current year.

In other Ulta Beauty news, Director George R. Mrkonic, Jr. sold 476 shares of the business’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $391.84, for a total transaction of $186,515.84. Following the sale, the director now directly owns 2,393 shares in the company, valued at approximately $937,673.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott M. Settersten sold 32,532 shares of the business’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $426.63, for a total transaction of $13,879,127.16. Following the sale, the chief financial officer now owns 14,037 shares in the company, valued at $5,988,605.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,207 shares of company stock worth $19,411,502. Insiders own 2.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Ulta Beauty by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 5,886,434 shares of the specialty retailer’s stock worth $2,344,096,000 after buying an additional 40,190 shares during the last quarter. Invesco Ltd. raised its stake in shares of Ulta Beauty by 33.6% during the 1st quarter. Invesco Ltd. now owns 473,586 shares of the specialty retailer’s stock worth $188,593,000 after buying an additional 119,048 shares during the last quarter. Eaton Vance Management raised its stake in shares of Ulta Beauty by 7.8% during the 1st quarter. Eaton Vance Management now owns 143,933 shares of the specialty retailer’s stock worth $57,317,000 after buying an additional 10,363 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Ulta Beauty by 0.5% during the 1st quarter. Prudential Financial Inc. now owns 88,422 shares of the specialty retailer’s stock worth $35,211,000 after buying an additional 457 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Ulta Beauty by 36.1% during the 1st quarter. Advisors Asset Management Inc. now owns 26,870 shares of the specialty retailer’s stock worth $10,700,000 after buying an additional 7,124 shares during the last quarter. 89.20% of the stock is owned by institutional investors and hedge funds.

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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