Home Trade Closing Bell 3-17-19 ULTA moves 30.00 dollars 315 call options paid 300 % gain
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3-17-19 ULTA moves 30.00 dollars 315 call options paid 300 % gain

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3-17-19 ULTA moves 30.00 dollars 315 call options paid 300 % gain
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• ULTA (343.21 +9.82%): Beat consensus for EPS in Q4; revs rose +9.7% year/year to $2.12 bln (in-line), driven by upside +9.4% growth in comp sales, inclusive of +7.1% transaction growth and +2.3% growth in average ticket, with e-commerce comp sales increasing +25.1%. Guided FY19 EPS in-line. Telsey Advisory Group raises co’s target to $375 (from $360) on signs of acceleration in the business, comp trends, and a strong pipeline of brand introductions, among other factors. Stock sees all-time highs.
• Ulta Beauty target raised to $375 at Telsey Advisory Group — Comp performance and FY19 outlook highlight underlying momentum (312.51)
• Telsey Advisory Group raises their ULTA tgt to $375 from $360. The fourth quarter results show an encouraging acceleration in the business at a time when other retailers have experienced traffic headwinds. The FY19 guidance looks for a continuation of momentum driven by what firm sees as a strong pipeline of brand introductions. Over the longer-term, they believe that a sticky and growing loyalty program, sensible new-store growth and ongoing product newness can drive the topline against easing compares, while a strong balance sheet and cash generation model allows for share repurchases to support the bottom line. Management’s recently updated three-year outlook — along with the clarity of the drivers to accomplish it –provides incremental confidence in the long-range model. Given the strong comp trend and visibility to earnings growth, they see current valuation as reasonable as well at 24.0x one-year forward earnings. Therefore, they maintain their Outperform rating despite the stock pushing new highs. Their new price target assumes a 25x multiple on their FY20 EPS estimate of $14.90, which compares to the three-and ten-year historical average of 28x.

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