Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) Over Priced
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Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) trading at 40 times earnings and near a 52 week high looks like it is headed for it’s own fiscal cliff.
Ulta Salon, Cosmetics & Fragrance announced its earnings results on Thursday, November 29th. The company reported $0.59 earnings per share (EPS) for the quarter. The company had revenue of $505.60 million for the quarter. During the same quarter in 2011, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 22.4% on a year-over-year basis. Analysts expect that Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA) will post $2.61 EPS for the current fiscal year.
Ulta issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.96-0.98 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.97. The company issued revenue guidance of $742-754 million, compared to the consensus revenue estimate of $746.83 million.
I do seem to be alone on this one, Robert W. Baird reiterated an outperform rating on shares of Ulta Salon, Cosmetics & Fragrance and has a $120.00 price target on the stock, Piper Jaffray raised their price target on shares of Ulta Salon, Cosmetics & Fragrance from $116.00 to $118.00 and Oppenheimer raised their price target on shares of Ulta Salon, Cosmetics & Fragrance from $103.00 to $112.00.
My target is lower, I think we will see $80 in early 2013 if not before.
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