JP Morgan analyst Christopher Horvers reiterated an Overweight rating on Ulta Beauty, Inc. ULTA, lowering the price forecast to $450 from $544.
A recent purchase of the retailer's shares by Warren Buffett's Berkshire Hathaway has attracted much attention. One pundit reduced his price target, but steadfastly maintained his bullish outlook on the stock.
Berkshire recently initiated a position in retailer Ulta Beauty. Shares of the cosmetics chain are down about 24% in 2024.
ULTA's second-quarter performance is likely to reflect gains from strategic priorities. While elevated SG&A costs and a lower gross margin are expected.
Besides Wall Street's top -and-bottom-line estimates for Ulta (ULTA), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended July 2024.
Key Points: Warren Buffett purchased Ulta Beauty, taking advantage of its reduced stock price.
Ulta runs a differentiated retail business targeting a broad demographic of beauty shoppers. It has one of the best returns on capital in retail.
Ulta (ULTA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Sales trends have deteriorated recently but there's good reason to give Ulta a pass. Management thinks recent changes to marketing could reinvigorate sales in the coming quarters.
Ulta Beauty (ULTA) closed the most recent trading day at $377.06, moving -0.05% from the previous trading session.
Warren Buffett was scooping up shares of Ulta in Q2. The beauty retailer has seen headwinds this year that have put the stock in bargain bin territory.
Berkshire Hathaway's BRK.B 0.83%increase; green up pointing triangle Warren Buffett has famously advised investors to be greedy when others are fearful. This past week, the company scooped up shares of Ulta Beauty ULTA 3.12%increase; green up pointing triangle, which landed in the discount bin after spooking the market.