Financial Enhancement Group LLC Acquires New Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Financial Enhancement Group LLC purchased a new position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,958 shares of the specialty retailer's stock, valued at approximately $762,000.

Other hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Ulta Beauty in the first quarter valued at about $31,000. UMB Bank n.a. increased its stake in shares of Ulta Beauty by 83.3% during the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 30 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Ulta Beauty during the 2nd quarter worth approximately $32,000. Paladin Wealth LLC purchased a new position in shares of Ulta Beauty during the 3rd quarter worth approximately $32,000. Finally, Crewe Advisors LLC purchased a new position in shares of Ulta Beauty during the 1st quarter worth approximately $44,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ULTA. Raymond James decreased their target price on shares of Ulta Beauty from $450.00 to $440.00 and set an "outperform" rating on the stock in a research report on Monday, October 14th. Canaccord Genuity Group decreased their target price on shares of Ulta Beauty from $522.00 to $500.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. BMO Capital Markets set a $385.00 target price on shares of Ulta Beauty in a research report on Thursday, October 17th. Telsey Advisory Group restated an "outperform" rating and set a $450.00 target price on shares of Ulta Beauty in a research report on Thursday, October 17th. Finally, Piper Sandler raised their target price on shares of Ulta Beauty from $356.00 to $357.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $420.71.

Ulta Beauty Trading Up 1.5 %

ULTA stock traded up $5.73 during trading on Thursday, reaching $393.26. The stock had a trading volume of 761,370 shares, compared to its average volume of 965,799. Ulta Beauty, Inc. has a 1-year low of $318.17 and a 1-year high of $574.76. The company has a market capitalization of $18.53 billion, a P/E ratio of 15.88, a PEG ratio of 2.21 and a beta of 1.33. The firm has a fifty day moving average price of $377.14 and a 200 day moving average price of $380.63.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing analysts' consensus estimates of $5.47 by ($0.17). The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The business's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.02 EPS. Sell-side analysts predict that Ulta Beauty, Inc. will post 23.07 EPS for the current year.

Ulta Beauty 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.