In the latest trading session, Ulta Beauty (ULTA) closed at $382.91, marking a -0.26% move from the previous day.
Michael Baker, senior research analyst at D.A. Davidson, joins CNBC's 'The Exchange' to discuss retail earnings and stocks, trends he sees in consumer spending, and more.
Ulta Beauty (ULTA) reachead $380.08 at the closing of the latest trading day, reflecting a +1.82% change compared to its last close.
Both top investors spied opportunity in the Ulta sell-off.
Recently, Zacks.com users have been paying close attention to Ulta (ULTA). This makes it worthwhile to examine what the stock has in store.
Ulta Beauty (ULTA) closed at $369.20 in the latest trading session, marking a +0.08% move from the prior day.
Ulta Beauty projects double-digit EPS growth by 2026, despite weak guidance for FY2024 and FY2025 and a period of increased investments. The long-term vision includes over 1,800 stores in the USA and expansion into Mexico in 2025 to establish a franchising model. Investments in store expansion are expected to yield +20% returns, with 70% of capital expenditures focused on store presence, up from 50%.
BofA Securities analyst Lorraine Hutchinson reiterated the Neutral rating on Ulta Beauty, Inc. ULTA with a price objective of $380.
ULTA is grappling with challenges like shifting consumer behavior toward value-driven spending and increased competition, which are eroding its market share.
Ulta Beauty plans to open 200 new stores as part of a long-term strategy announced this week. At its investors' day Wednesday (Oct. 16), the beauty retailer said it hopes to open the new locations over the next three years, bringing its store count to more than 1,800, according to a press release.
Ulta Beauty announces an ambitious strategic plan and new long-term financial targets, alongside authorizing a new share repurchase plan.
The beauty retailer expects slower growth, but the underlying business still has a lot of appeal.