The stock of Ulta Beauty, Inc. (NASDAQ:ULTA) is now priced at $232.88 and the shares are 0.7 points up or 0.3% higher compared to its previous closing price of $232.18. The stock had 1.112 million contracts set over the past session. ULTA shares’ daily volume is compared to its average trading volume at 1.276 million shares. However, it has a float of 53.84 million and although its performance was 5.96% over the week, it’s one to watch. Analysts have given the ULTA stock a yearly average price target of $262.59 per share. It means the stock’s upside potential is 12.76% with the ULTA share price recently placing at $227.82 to $233.1. However, some brokerage firms have priced the stock below the average, including one that has called $220.
The shorts are climbing into the Ulta Beauty, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ULTA shares have risen. Short interest in the stock represents just 5.9% of its float, but the volume has raised by 576050. The volume of shorted shares rised to 3.177 million from 2.601 million shares over the last two weeks. The average intraday trading volume has been 872718 shares, which means that days to cover moved to roughly 3.640836.
In the last trading session, Ulta Beauty, Inc. (NASDAQ:ULTA) raised by $13.1 over the week and gained $34.39 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $304.65. The stock recorded its established 52-week high on 02/12/20.
Since 03/18/20, the stock has traded to a low of $124.05 at 87.73%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.47. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Ulta Beauty, Inc.’s two-week RSI is 62.68. This suggests that the stock is neutral at the moment and that ULTA shares’ price movement remains stable. The stochastic readings are equally revealing at 57.17% meaning the ULTA share price is currently in neutral territory.
The technical chart shows that the ULTA stock will likely settle at between $234.71 and $236.55 per share. However, if the stock dips below $229.43, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $225.99.
Currently, the stock is trading in the green of MACD, with a reading of 10.86. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at UBS though raised target price of ULTA stock from $260 to $280 but maintained Buy recommendation in their August 28 review. Telsey Advisory Group analysts see the stock as a Outperform, but they also raised the share’s target price from $280 to $295 in a flash note released to investors on August 28. Oppenheimer analysts see the stock as Outperform. Nonetheless, the analysts revised the share prices up on August 28, placing it at $280 from $270.
The average rating for the ULTA equity is 2.04 and is currently gathering a bullish momentum. Of 28 analysts tracking Ulta Beauty, Inc. polled by Reuters, 9 rated ULTA as a hold. The remaining 19 analysts were split evenly. However, the split wasn’t equal as a majority (19) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ULTA stock price is 21.51X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 47.7 below the group’s average of 52.5. Ulta Beauty, Inc. has its P/E ratio at 7.4, which means that the stock is currently trading at a premium relative to the 7.3 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Ulta Beauty, Inc. (NASDAQ:ULTA) will increase by about 27.85%, which will see them reach $1570 million. The company’s full-year revenues are, however, expected to diminish by about -16.89%, down from $7400 million to $6150 million. ULTA’s expected adjusted earnings should drop almost -30.67% to end up at $1.56 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -66.17% to record $4.11/share.