Ulta (ULTA) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Warren Buffett revealed today he has bought a $266 million stake in Ulta Beauty stock. Ulta stock bounced 12% higher on the news.
Ulta Beauty Inc (NASDAQ:ULTA) is up 14.5% to trade at $366.88 at last check, amid news that Warren Buffett's Berkshire Hathaway (BRK) took a $266 million stake in the cosmetics retailer.
Ulta Beauty stock is down 30% this year. Why did Warren Buffett buy it?
Ulta Beauty (ULTA) stock price has been under intense pressure in the past few months. After peaking at $574 earlier this year, it has sunk by over 42% and was trading at $328 on Wednesday, its lowest level in over 52 weeks.
Ulta Beauty (ULTA) shares surged nearly 14% in extended trading on Wednesday after a regulatory filing revealed that Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) had taken a stake in the cosmetics retailer during the second quarter.
Warren Buffett's Berkshire Hathaway took a stake in Ulta Beauty ULTA -0.76%decrease; red down pointing triangle in the second quarter while buying more shares of Chubb CB 1.70%increase; green up pointing triangle and Occidental Petroleum OXY -0.90%decrease; red down pointing triangle.
Zacks.com users have recently been watching Ulta (ULTA) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Ulta Beauty (ULTA) closed at $326.42 in the latest trading session, marking a -0.26% move from the prior day.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Ulta Beauty offers a wider range of products, price points, and services than any competitor. The company's recent slowdown has more to do with uncontrollable circumstances and less to do with missteps.
Ulta Beauty (ULTA) closed at $367.53 in the latest trading session, marking a +0.25% move from the prior day.