Is Ulta Beauty Inc (NASDAQ: ULTA) Proving The Doubters Wrong?

Ulta Beauty Inc (ULTA) concluded trading on Wednesday at a closing price of $439.98, with 4.21 million shares of worth about $1.85 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 9.19% during that period and on April 3, 2024 the price saw a loss of about -15.34%. Currently the company’s common shares owned by public are about 48.32M shares, out of which, 48.17M shares are available for trading.

Stock saw a price change of -14.46% in past 5 days and over the past one month there was a price change of -19.50%. Year-to-date (YTD), ULTA shares are showing a performance of -10.21% which decreased to -19.37% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $368.02 but also hit the highest price of $574.76 during that period. The average intraday trading volume for Ulta Beauty Inc shares is 670.10K. The stock is currently trading -17.71% below its 20-day simple moving average (SMA20), while that difference is down -16.49% for SMA50 and it goes to -4.04% lower than SMA200.

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Ulta Beauty Inc (NASDAQ: ULTA) currently have 48.32M outstanding shares and institutions hold larger chunk of about 95.66% of that.

The stock has a current market capitalization of $21.24B and its 3Y-monthly beta is at 1.31. PE ratio of stock for trailing 12 months is 16.89, while it has posted earnings per share of $26.05 in the same period. Its PEG reads 2.35 and has Quick Ratio of 0.65 while making debt-to-equity ratio of 0.84. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ULTA, volatility over the week remained 3.28% while standing at 2.83% over the month.

Analysts are in expectations that Ulta Beauty Inc (ULTA) stock would likely to be making an EPS of $6.38 in the current quarter, while forecast for next quarter EPS is $6.03 and it is $29.58 for next year. For the current quarter EPS, analysts have given the company a lowest target $5.69 which is $6.76 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $6.88 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 2.80% while it is estimated to increase by 10.02% in next year. EPS is likely to shrink at an annualized rate of 7.20% for next 5-years, compared to annual growth of 18.93% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on February 15, 2024 offering an Overweight rating for the stock and assigned a target price range of between $535 and $600 to it. Coverage by Loop Capital stated Ulta Beauty Inc (ULTA) stock as a Hold in their note to investors on February 14, 2024, suggesting a price target of $530 for the stock. On November 07, 2023, Evercore ISI Initiated their recommendations, while on June 13, 2023, Loop Capital Upgrade their ratings for the stock with a price target of $520. Stock get an Outperform rating from Oppenheimer on May 19, 2023.

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