On Jan 08, major Wall Street analysts update their ratings for $Ulta Beauty (ULTA.US)$, with price targets ranging from $370 to $515.
BofA Securities analyst Lorraine Hutchinson maintains with a hold rating, and sets the target price at $475.
Citi analyst Kelly Crago maintains with a hold rating, and adjusts the target price from $450 to $457.
Wells Fargo analyst Ike Boruchow maintains with a sell rating, and maintains the target price at $370.
Evercore analyst Michael Binetti maintains with a buy rating, and adjusts the target price from $480 to $490.
TD Cowen analyst Oliver Chen maintains with a hold rating, and maintains the target price at $480.
Furthermore, according to the comprehensive report, the opinions of $Ulta Beauty (ULTA.US)$'s main analysts recently are as follows:
Following Ulta Beauty's announcement of Kecia Steelman as the new CEO, succeeding Dave Kimbell, and an updated forecast for Q4 comps to show a modest increase with an operating margin surpassing the upper bounds of prior guidance due to a robust holiday season, the projected Q4 EPS has been revised to $7.17 from an earlier estimate of $6.66. Despite the positive preannouncement, margins are projected to decrease by 200 basis points year-over-year in Q4 and by 180 points for FY24.
Ulta Beauty announced a leadership change as CEO Dave Kimbell retires and COO Kecia Steelman steps into the role. The transition, though sudden, is regarded positively with confidence in Steelman's capability to lead. Additionally, Ulta has revised its Q4 guidance, forecasting modestly better comps than the market consensus, and anticipates an EBIT margin above earlier expectations, indicating efficient promotional strategies. This update suggests easing competitive pressures and a more optimistic outlook for fiscal 2025.
Following the announcement of Ulta Beauty's CEO transition, with the current COO ascending to the chief executive role today, and an elevated Q4 guidance reflecting robust holiday trends, an analyst has increased their Q4 EPS forecast to $7.05, also adjusting their 2025 EPS prediction upwards.
Ulta Beauty's recent business update highlighted positive developments, coupled with the announcement of CEO Dave Kimbell's retirement and COO Kecia Steelman's immediate succession to the role. This leadership transition occurs as the company experiences renewed business momentum, which is viewed positively. For the fourth quarter, the company now anticipates higher comparable store sales and operating margins exceeding previous upper estimates. These developments are seen as affirmative steps supporting a bullish outlook for the company.
The firm adjusted its FY24-FY26 EPS estimates upwards following Ulta Beauty's encouraging Q4 trading update, announced concurrently with the news that president and COO Kecia Steelman will immediately succeed Dave Kimbell as CEO. The timing of the CEO transition was somewhat unexpected, although the choice of Steelman was largely anticipated.
Here are the latest investment ratings and price targets for $Ulta Beauty (ULTA.US)$ from 10 analysts:
Note:
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