.jpg "Ulta Beauty Inc (NASDAQ: ULTA)")
Oppenheimer analyst Rupesh Parikh maintained a Buy rating on Ulta Beauty Inc (ULTA) today and set a price target of $400. The company’s shares closed yesterday at $353.70, close to its 52-week high of $359.69.
Parikh observed:
“With ULTA shares approaching our prior $360 PT, we spent time revisiting our investment thesis on ULTA shares. Even after the powerful move higher off the late Dec. lows (+55% vs. a 25% gain in the S&P 500), ULTA shares still trade only more consistent with historical average valuations vs. some of our favorites such as and EL trading at/near peakish parameters. With our expectations for at least mid-to-high teens EPS growth, a backdrop for continued share gains, and ongoing strength in the US consumer, we see further gains from here. Our new PT of $400 suggests about 12% upside. Following this latest leg higher, we now rank ULTA and EL equally as top picks in our beauty coverage.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.8% and a 65.5% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Sprouts Farmers.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ulta Beauty Inc with a $358 average price target, implying a 1.2% upside from current levels. In a report issued on April 15, J.P. Morgan also maintained a Buy rating on the stock with a $390 price target.
See today’s analyst top recommended stocks >>
Ulta Beauty Inc’s market cap is currently $20.72B and has a P/E ratio of 32.30. The company has a Price to Book ratio of 11.38.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. Last month, David Kimbell, the Chief Merchandising and Marketing Officer of ULTA sold 15,452 shares for a total of $5,153,087.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ulta Beauty, Inc. is a beauty retailer of cosmetics, fragrance, skin care products, hair care products, and salon services. It provides unmatched product breadth, value and convenience in a distinctive specialty retail environment. The company was founded in January 9, 1990 and is headquartered in Bolingbrook, IL.
