ULTA - Ulta Beauty Lowers Guidance but Is There a Buying Opportunity With the Stock Down Nearly 25% off Its Highs?
2024-06-06 08:45:00 ET
Ulta Beauty (NASDAQ: ULTA) shares have lost some of their shine recently, with the stock off about 25% from its recent highs. The beauty products retailer highlighted some of the issues it was facing when it recently lowered its guidance in conjunction with its recent earnings report.
While the stock has recovered a bit, it is still way down from its highs. Let's take a close look at its most recent earnings report and guidance and see whether now is a good time to buy the stock.
For its fiscal first quarter, ended May 4, Ulta's revenue moved 3.8% higher to $2.7 billion. Same-store sales , meanwhile, rose 1.6% on top of a 9.3% increase a year ago. Transactions increased 1.3%, while average ticket edged up 0.3%.
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Ulta Beauty Lowers Guidance, but Is There a Buying Opportunity With the Stock Down Nearly 25% off Its Highs?