why Ulta Beauty Inc [ULTA] is a Good Choice for Investors After New Price Target of $588.98

Ulta Beauty Inc [NASDAQ: ULTA] loss -15.34% on the last trading session, reaching $439.98 price per share at the time. The company report on March 25, 2024 at 4:05 PM that Ulta Beauty to Participate in Upcoming Investor Conference.

Ulta Beauty, Inc. (NASDAQ: ULTA) today announced that Dave Kimbell, chief executive officer, and Paula Oyibo, senior vice president of finance and incoming chief financial officer, will participate in a Fireside Chat at J.P. Morgan’s 10th Annual Retail Roundup investor conference on Wednesday, April 3, 2024 at 9:00 a.m. Eastern Time / 8:00 a.m. Central Time.

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The Fireside Chat will be webcast live at https://www.ulta.com/investor, and a replay of the webcast will be available for a limited time.

If compared to the average trading volume of 670.10K shares, ULTA reached a trading volume of 4206369 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ulta Beauty Inc [ULTA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ULTA shares is $588.98 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ULTA stock is a recommendation set at 2.17. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Ulta Beauty Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 15, 2024. The new note on the price target was released on February 14, 2024, representing the official price target for Ulta Beauty Inc stock. Previously, the target price had yet another raise to $460, while Evercore ISI analysts kept a Outperform rating on ULTA stock. On June 13, 2023, analysts increased their price target for ULTA shares from 490 to 520.

The Average True Range (ATR) for Ulta Beauty Inc is set at 17.94, with the Price to Sales ratio for ULTA stock in the period of the last 12 months amounting to 1.90. The Price to Book ratio for the last quarter was 9.33, with the Price to Cash per share for the same quarter was set at 15.88. Price to Free Cash Flow for ULTA in the course of the last twelve months was 20.40 with Quick ratio for the last quarter at 0.65.

Trading performance analysis for ULTA stock

Ulta Beauty Inc [ULTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.46. With this latest performance, ULTA shares dropped by -19.50% in over the last four-week period, additionally plugging by 9.19% over the last 6 months – not to mention a drop of -19.37% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ULTA stock in for the last two-week period is set at 22.84, with the RSI for the last a single of trading hit 17.37, and the three-weeks RSI is set at 28.15 for Ulta Beauty Inc [ULTA]. The present Moving Average for the last 50 days of trading for this stock 526.14, while it was recorded at 505.01 for the last single week of trading, and 458.44 for the last 200 days.

Ulta Beauty Inc [ULTA]: A deeper dive into fundamental analysis

Ulta Beauty Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.65 and a Current Ratio set at 1.70.

Ulta Beauty Inc [ULTA]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Ulta Beauty Inc posted 6.88/share EPS, while the average EPS was predicted by analysts to be reported at 6.87/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ULTA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ulta Beauty Inc go to 7.20%.

An analysis of Institutional ownership at Ulta Beauty Inc [ULTA]

The top three institutional holders of ULTA stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ULTA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ULTA stock with ownership which is approximately 5.8386%.

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