In a report released today, Rupesh Parikh from Oppenheimer assigned a Buy rating to Ulta Beauty (ULTA), with a price target of $280.00. The company’s shares closed last Wednesday at $217.04.
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 14.3% and a 62.7% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and United Natural Foods.
Ulta Beauty has an analyst consensus of Moderate Buy, with a price target consensus of $269.47, representing a 20.2% upside. In a report issued on September 10, D.A. Davidson also initiated coverage with a Buy rating on the stock with a $280.00 price target.
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Based on Ulta Beauty’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $1.23 billion and net profit of $8.05 million. In comparison, last year the company earned revenue of $1.67 billion and had a net profit of $161 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ULTA in relation to earlier this year. Earlier this month, Lorna Nagler, a Director at ULTA sold 3,000 shares for a total of $722,790.
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.
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