Ulta Beauty, Inc. (NASDAQ:ULTA) was among the stocks Jim Cramer was focused on, as he discussed Mad Money’s latest game plan for the week. Cramer highlighted the recent price revision by a Wall Street **** yst, as he remarked:
Then there’s Ulta Beauty. Now, we went to see them not that long ago. You know, the stock’s down 15% this year, and today, an **** yst cut their price target ahead of the quarter next Tuesday after the close. Maybe the **** yst knows something. I don’t know. It was jarring.
A stock market chart. Photo by Arturo A on Pexels
Ulta Beauty, Inc. (NASDAQ:ULTA) provides cosmetics, skincare, haircare, and fragrance products. In addition, the company offers in-store beauty services, including hair, makeup, brow, and skin treatments. During the March 23 episode, Cramer mentioned the stock and said:
On a day when beauty conglomerate Estee Lauder confirmed it’s in discussions to combine with Spanish cosmetics company, Puig, an announcement that caused Estee Lauder’s stock to fall 7.7%, we thought it might be a good time to check in with Ulta Beauty. That’s long our favorite cosmetics retailer. About a week and a half ago, Ulta Beauty reported a mixed quarter with strong same-store sales, but also higher-than-expected costs that translated into a legitimate earnings miss. The next day, the stock tumbled 14%, and it’s now down almost 28% from its February all-time highs, a perch it is rarely that far from… We think it is a very good price… Consider today’s trip to Ulta Beauty. Kecia Steelman, a 35-year veteran of retail, told us a tale of non-promotion, of a consumer that’s spending upfront where the more expensive goods are and also on the sides and in the back where you can find bargains. I was surprised that high price point merchandise up front was moving well, good gross margins.
Then there’s Ulta Beauty. Now, we went to see them not that long ago. You know, the stock’s down 15% this year, and today, an **** yst cut their price target ahead of the quarter next Tuesday after the close. Maybe the **** yst knows something. I don’t know. It was jarring.
A stock market chart. Photo by Arturo A on Pexels
Ulta Beauty, Inc. (NASDAQ:ULTA) provides cosmetics, skincare, haircare, and fragrance products. In addition, the company offers in-store beauty services, including hair, makeup, brow, and skin treatments. During the March 23 episode, Cramer mentioned the stock and said:
On a day when beauty conglomerate Estee Lauder confirmed it’s in discussions to combine with Spanish cosmetics company, Puig, an announcement that caused Estee Lauder’s stock to fall 7.7%, we thought it might be a good time to check in with Ulta Beauty. That’s long our favorite cosmetics retailer. About a week and a half ago, Ulta Beauty reported a mixed quarter with strong same-store sales, but also higher-than-expected costs that translated into a legitimate earnings miss. The next day, the stock tumbled 14%, and it’s now down almost 28% from its February all-time highs, a perch it is rarely that far from… We think it is a very good price… Consider today’s trip to Ulta Beauty. Kecia Steelman, a 35-year veteran of retail, told us a tale of non-promotion, of a consumer that’s spending upfront where the more expensive goods are and also on the sides and in the back where you can find bargains. I was surprised that high price point merchandise up front was moving well, good gross margins.
3 days ago
