Ulta Beauty stock hits 52-week high at 520.72 USD

Ulta Beauty (NASDAQ:ULTA) Inc. has reached a significant milestone, with its stock hitting a 52-week high of 520.72 USD. According to InvestingPro data, the $23.35B market cap company currently trades at a P/E ratio of 20.25, with technical indicators suggesting overbought conditions. This achievement underscores the company’s robust performance and investor confidence over the past year. Ulta Beauty’s stock has experienced a remarkable 41.62% increase over the last 12 months, with annual revenue reaching $11.4B, reflecting strong growth and resilience in the beauty retail sector. The stock’s upward trajectory highlights Ulta Beauty’s ability to navigate market challenges and capitalize on consumer trends, reinforcing its position as a leading player in the industry. InvestingPro analysis reveals an overall Financial Health score of "GREAT," with 10+ additional exclusive insights available for subscribers.

In other recent news, Ulta Beauty has made a significant acquisition by purchasing British beauty retailer Space NK from Manzanita Capital. While the financial terms were not disclosed, reports suggest the deal is valued at over £300 million. Space NK, which operates 83 stores primarily in the UK and Ireland, will continue as a standalone subsidiary under its current management. In light of this acquisition, DA Davidson has reiterated its Buy rating for Ulta Beauty and increased its price target from $485 to $550. This decision was influenced by a study comparing Ulta’s best-selling products with those of competitors like Sephora and Amazon (NASDAQ:AMZN). Meanwhile, Citi has maintained a neutral rating on Ulta Beauty with a price target of $450, following the immediate departure of CFO Paula Oyibo. Chris Lialios, who has extensive experience with the company, will step in as interim CFO during the search for a permanent replacement. These developments highlight Ulta Beauty’s strategic moves and ongoing leadership transitions.

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