Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) was downgraded by Jefferies Group from a “buy” rating to a “hold” rating in a research note issued on Monday, TheFlyOnTheWall.com reports. They currently have a $120.00 price objective on the stock. Jefferies Group’s target price points to a potential upside of 2.01% from the stock’s previous close.
The analysts wrote, “Exiting a strong 2Q that bucked the overall downtrend in retail, ULTA shares are up nearly 50% since April. We believe fundamental strength and EPS upside will persist, but we now see shares pricing in most of the good news and outlook. While we remain positive on the growth opportunity in this name, we no longer view the risk/reward as favorable. Lower rating to Hold; PT stays at $120.”
Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) traded down 0.99% on Monday, hitting $116.47. The stock had a trading volume of 197,396 shares. Ulta Salon Cosmetics & Fragrance has a 52-week low of $72.51 and a 52-week high of $121.50. The stock has a 50-day moving average of $104.4 and a 200-day moving average of $94.11. The company has a market cap of $7.445 billion and a P/E ratio of 40.02.
Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, September 12th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.67 by $0.03. The company had revenue of $601.00 million for the quarter, compared to the consensus estimate of $588.37 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 24.8% on a year-over-year basis. On average, analysts predict that Ulta Salon Cosmetics & Fragrance will post $3.34 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee raised their price target on shares of Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) from $104.00 to $125.00 in a research note to investors on Friday, September 13th. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) from $110.00 to $125.00 in a research note to investors on Friday, September 13th. They now have an “outperform” rating on the stock. Finally, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) in a research note to investors on Friday, September 13th. They now have a $124.00 price target on the stock.
One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $117.20.
In other Ulta Salon Cosmetics & Fragrance news, VP Janet Taake unloaded 20,341 shares of the company’s stock on the open market in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $119.95, for a total transaction of $2,439,902.95. Following the sale, the vice president now directly owns 7,891 shares in the company, valued at approximately $946,525. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Ulta Salon, Cosmetics & Fragrance, Inc (NASDAQ:ULTA) is a beauty retailer, which provides one-stop shopping for prestige, mass and salon products and salon services in the United States.
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