Hardy Reed LLC Invests $272,000 in Ulta Beauty, Inc. (NASDAQ:ULTA)

Hardy Reed LLC bought a new position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) during the third quarter, Holdings Channel.com reports. The fund bought 699 shares of the specialty retailer’s stock, valued at approximately $272,000.

Other large investors have also recently bought and sold shares of the company. Sage Capital Advisors llc increased its holdings in shares of Ulta Beauty by 5.4% during the 2nd quarter. Sage Capital Advisors llc now owns 525 shares of the specialty retailer’s stock worth $203,000 after purchasing an additional 27 shares during the period. Farther Finance Advisors LLC raised its holdings in Ulta Beauty by 4.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 627 shares of the specialty retailer’s stock valued at $244,000 after acquiring an additional 28 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Ulta Beauty by 83.3% in the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 30 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of Ulta Beauty by 5.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 695 shares of the specialty retailer’s stock worth $268,000 after purchasing an additional 33 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its position in shares of Ulta Beauty by 1.0% during the second quarter. Nations Financial Group Inc. IA ADV now owns 3,495 shares of the specialty retailer’s stock valued at $1,349,000 after purchasing an additional 33 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Down 0.6 %

Ulta Beauty stock opened at $360.47 on Wednesday. The business’s 50-day simple moving average is $375.54 and its 200 day simple moving average is $376.69. The stock has a market cap of $16.99 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 2.08 and a beta of 1.33. Ulta Beauty, Inc. has a 12-month low of $318.17 and a 12-month high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.17). Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the business posted $6.02 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts expect that Ulta Beauty, Inc. will post 23.07 EPS for the current year.

Wall Street Analysts Forecast Growth

ULTA has been the subject of several research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $435.00 target price on shares of Ulta Beauty in a research report on Wednesday, October 16th. UBS Group decreased their target price on shares of Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. DA Davidson cut their price target on shares of Ulta Beauty from $507.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Stifel Nicolaus upped their price objective on Ulta Beauty from $385.00 to $395.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their target price on Ulta Beauty from $450.00 to $472.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $420.71.

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.