Ulta Salon (ULTA) Received its Third Buy in a Row

By Carrie Williams

After Morgan Stanley and Piper Jaffray gave Ulta Salon (NASDAQ: ULTA) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Oliver Chen maintained a Buy rating on Ulta Salon today and set a price target of $340. The company’s shares closed yesterday at $304.49, close to its 52-week high of $308.88.

According to TipRanks.com, Chen is a 4-star analyst with an average return of 8.1% and a 53.2% success rate. Chen covers the Services sector, focusing on stocks such as Wal-Mart Stores Inc, Planet Fitness, and Nordstrom Inc.

Ulta Salon has an analyst consensus of Moderate Buy, with a price target consensus of $306.36, implying a 0.6% upside from current levels. In a report issued on November 2, Oppenheimer also reiterated a Buy rating on the stock with a $340 price target.


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Ulta Salon’s market cap is currently $18.23B and has a P/E ratio of 29.68. The company has a Price to Book ratio of 10.06.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2018, Lorna Nagler, a Director at ULTA sold 2,000 shares for a total of $552,380.

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 provide unmatched product breadth, value and convenience in a distinctive specialty retail environment. The company was founded in January 9, 1990 and its headquartered in Bolingbrook, IL.