Loop Capital Remains Sidelined on Ulta Salon (ULTA) Following 3Q Report
Loop Capital analyst, Anthony Chukumba, reiterated a Hold rating and $300.00 price target on ULTA Salon (NASDAQ: ULTA) following the company's 3Q earnings report. Net sales increased 16.2% to $1.6B, with comparable sales up 7.8%. Operating margin declined 130 bps YoY to 10.8%, and diluted EPS increased 28.2% to $2.18, beating consensus by $0.02.
Management noted mass cosmetics, prestige skincare, fragrances, prestige boutique brands, and sun care were the best performing product categories, posting double-digit percentage comp increases. ULTA reiterated its forecast of low 20% EPS growth in F2018, implying diluted EPS of $10.84-$11.02.
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Shares of ULTA Salon closed at $292.92 yesterday.