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

Ulta Beauty (NASDAQ:ULTA) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 26.200-27.000 for the period, compared to the consensus EPS 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 subject of several research analyst reports. Evercore ISI reduced their price target on shares of Ulta Beauty from $656.00 to $635.00 and set an outperform rating for the company in a research report on Friday, March 15th. Wells Fargo & Company decreased their target price on shares of Ulta Beauty from $450.00 to $350.00 and set an underweight rating on the stock in a research report on Wednesday, April 24th. Piper Sandler dropped their price target on Ulta Beauty from $665.00 to $595.00 and set an overweight rating on the stock in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their target price on Ulta Beauty from $574.00 to $627.00 in a research note on Friday, March 15th. Finally, Jefferies Financial Group restated a hold rating and set a $438.00 price target (down from $585.00) on shares of Ulta Beauty in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $548.05.

Ulta Beauty Stock Up 0.0 %

Shares of Ulta Beauty stock opened at $397.39 on Monday. The firm’s 50-day moving average price is $486.30 and its two-hundred day moving average price is $470.17. The company has a market capitalization of $19.05 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.63 and a beta of 1.36. Ulta Beauty has a 12-month low of $368.02 and a 12-month high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, topping the consensus estimate of $7.49 by $0.59. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period last year, the company earned $6.68 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts expect that Ulta Beauty will post 26.55 earnings per share for the current year.

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

Insider Buying and Selling at Ulta Beauty

In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total value of $1,629,325.50. Following the completion of the sale, the insider now directly owns 2,705 shares in the company, valued at $1,420,801.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Kecia Steelman sold 20,950 shares of the business’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 sale, the chief operating officer now directly owns 10,494 shares of the company’s stock, valued at $5,523,936.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total value of $1,629,325.50. Following the sale, the insider now owns 2,705 shares in the company, valued at $1,420,801.25. The disclosure for this sale can be found here. Insiders have sold 24,552 shares of company stock valued at $12,920,326 over the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

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.