Ulta Beauty (NASDAQ:ULTA) Updates FY 2024 Earnings Guidance

Ulta Beauty (NASDAQ:ULTA) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 26.200-27.000 for the period, compared to the consensus earnings per share estimate of 26.800. The company issued revenue guidance of $11.7 billion-$11.8 billion, compared to the consensus revenue estimate of $11.8 billion.

Analyst Ratings Changes

ULTA has been the topic of a number of research analyst reports. Loop Capital upgraded shares of Ulta Beauty from a hold rating to a buy rating and set a $540.00 target price on the stock in a research report on Monday, April 8th. JPMorgan Chase & Co. upped their target price on Ulta Beauty from $535.00 to $600.00 and gave the stock an overweight rating in a report on Thursday, February 15th. Evercore ISI cut their target price on shares of Ulta Beauty from $656.00 to $635.00 and set an outperform rating on the stock in a research report on Friday, March 15th. DA Davidson reaffirmed a buy rating and set a $595.00 target price on shares of Ulta Beauty in a research report on Friday, March 15th. Finally, Piper Sandler decreased their price objective on shares of Ulta Beauty from $665.00 to $595.00 and set an overweight rating for the company in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ulta Beauty has a consensus rating of Moderate Buy and a consensus target price of $548.05.

Ulta Beauty Trading Up 0.0 %

Shares of ULTA stock opened at $397.39 on Monday. Ulta Beauty has a 12-month low of $368.02 and a 12-month high of $574.76. The stock has a market capitalization of $19.05 billion, a P/E ratio of 15.25, a P/E/G ratio of 1.63 and a beta of 1.36. The firm’s 50 day moving average is $486.30 and its 200 day moving average is $470.17.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating analysts’ consensus estimates of $7.49 by $0.59. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the prior year, the business earned $6.68 earnings per share. Ulta Beauty’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Ulta Beauty will post 26.55 earnings per share for the current year.

Ulta Beauty declared that its board has approved a share repurchase program on Thursday, March 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty retailer to purchase up to 7.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, COO Kecia Steelman sold 20,950 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the transaction, the chief operating officer now owns 10,494 shares in the company, valued at $5,523,936.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ulta Beauty news, Director Catherine Ann Halligan sold 500 shares of Ulta Beauty stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total value of $263,130.00. Following the transaction, the director now owns 1,665 shares in the company, valued at $876,222.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kecia Steelman sold 20,950 shares of Ulta Beauty stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the completion of the transaction, the chief operating officer now directly owns 10,494 shares in the company, valued at approximately $5,523,936.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,552 shares of company stock valued at $12,920,326. Corporate insiders own 0.39% 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.