Argus Downgrades Ulta Beauty (NASDAQ:ULTA) to Hold

Ulta Beauty (NASDAQ:ULTA) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Marketbeat Ratings reports.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. lowered their target price on Ulta Beauty from $480.00 to $475.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Barclays dropped their price objective on shares of Ulta Beauty from $445.00 to $327.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Citigroup reduced their target price on shares of Ulta Beauty from $405.00 to $365.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Wells Fargo & Company dropped their price target on shares of Ulta Beauty from $360.00 to $310.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Finally, B. Riley decreased their target price on Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $427.61.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA opened at $358.09 on Monday. The firm’s 50 day moving average price is $358.37 and its 200-day moving average price is $382.86. Ulta Beauty has a 52-week low of $309.01 and a 52-week high of $460.00. The company has a market cap of $16.22 billion, a PE ratio of 14.33, a P/E/G ratio of 0.89 and a beta of 1.16.

Ulta Beauty (NASDAQ:ULTA) last released 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. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the firm posted $8.08 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts forecast that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Insider Transactions at Ulta Beauty

In other Ulta Beauty news, insider Jodi J. Caro sold 902 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total transaction of $332,982.32. Following the completion of the transaction, the insider now owns 7,632 shares in the company, valued at $2,817,429.12. This trade represents a 10.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Prestige Wealth Management Group LLC raised its stake in Ulta Beauty by 121.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 34 shares in the last quarter. American National Bank & Trust bought a new stake in shares of Ulta Beauty in the 1st quarter worth about $29,000. Westside Investment Management Inc. raised its position in shares of Ulta Beauty by 151.5% during the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 50 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Ulta Beauty by 118.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 45 shares during the last quarter. Finally, Edge Capital Group LLC purchased a new position in Ulta Beauty in the fourth quarter worth about $33,000. 90.39% of the stock is currently owned by institutional investors.

About Ulta Beauty

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.