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Ulta (ULTA) Surges 11.2%: Is This an Indication of Further Gains?
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Ulta Beauty (ULTA - Free Report) shares ended the last trading session 11.2% higher at $365.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 17.8% loss over the past four weeks.
Ulta Beauty’s shares got a significant boost on Berkshire Hathaway's latest regulatory filing, which revealed a new investment in the beauty retailer, per sources. Industry experts believe that this new investment signals strong confidence in Ulta Beauty’s prospects.
Ulta Beauty’s robust operating model and strategic brand partnerships have been instrumental in driving traffic to both physical stores and digital channels. The company's focus on enhancing its product assortment, improving digital experiences, and leveraging its loyalty program are expected to contribute to comparable store sales growth in fiscal 2024. This strong operational foundation and strategic direction further validate the optimism surrounding Ulta Beauty’s stock performance.
This beauty products retailer is expected to post quarterly earnings of $5.49 per share in its upcoming report, which represents a year-over-year change of -8.8%. Revenues are expected to be $2.62 billion, up 3.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Ulta, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ULTA going forward to see if this recent jump can turn into more strength down the road.
Ulta belongs to the Zacks Retail - Miscellaneous industry. Another stock from the same industry, Dick's Sporting Goods (DKS - Free Report) , closed the last trading session 4.8% higher at $224.12. Over the past month, DKS has returned 0%.
Dick's' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.71. Compared to the company's year-ago EPS, this represents a change of +31.6%. Dick's currently boasts a Zacks Rank of #2 (Buy).
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Ulta (ULTA) Surges 11.2%: Is This an Indication of Further Gains?
Ulta Beauty (ULTA - Free Report) shares ended the last trading session 11.2% higher at $365.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 17.8% loss over the past four weeks.
Ulta Beauty’s shares got a significant boost on Berkshire Hathaway's latest regulatory filing, which revealed a new investment in the beauty retailer, per sources. Industry experts believe that this new investment signals strong confidence in Ulta Beauty’s prospects.
Ulta Beauty’s robust operating model and strategic brand partnerships have been instrumental in driving traffic to both physical stores and digital channels. The company's focus on enhancing its product assortment, improving digital experiences, and leveraging its loyalty program are expected to contribute to comparable store sales growth in fiscal 2024. This strong operational foundation and strategic direction further validate the optimism surrounding Ulta Beauty’s stock performance.
This beauty products retailer is expected to post quarterly earnings of $5.49 per share in its upcoming report, which represents a year-over-year change of -8.8%. Revenues are expected to be $2.62 billion, up 3.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Ulta, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ULTA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Ulta belongs to the Zacks Retail - Miscellaneous industry. Another stock from the same industry, Dick's Sporting Goods (DKS - Free Report) , closed the last trading session 4.8% higher at $224.12. Over the past month, DKS has returned 0%.
Dick's' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.71. Compared to the company's year-ago EPS, this represents a change of +31.6%. Dick's currently boasts a Zacks Rank of #2 (Buy).