What's Going On With Ulta Beauty Stock Wednesday?
Portfolio Pulse from Nabaparna Bhattacharya
Ulta Beauty's stock is trading lower after the company reaffirmed its FY24 guidance and outlined long-term growth strategies, including new store openings and a loyalty program expansion. The company also announced a new $3 billion share repurchase authorization.
October 16, 2024 | 1:52 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Investors can gain exposure to Ulta Beauty through the Neuberger Berman Next Generation Connected Consumer ETF, which may be impacted by Ulta's stock performance.
NBCC holds Ulta Beauty, and its performance may be indirectly affected by Ulta's stock decline due to the reaffirmation of guidance and long-term strategy announcements.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Advisor Managed Portfolios Trenchless Fund ETF provides exposure to Ulta Beauty, which is experiencing a stock decline following its FY24 guidance reaffirmation.
RVER includes Ulta Beauty, and its performance may be indirectly impacted by Ulta's stock decline due to the reaffirmation of guidance and strategic plans.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Ulta Beauty's stock is down 3.6% after reaffirming FY24 guidance and announcing long-term growth plans. The company plans to open 200 new stores and expand its loyalty program. A new $3 billion share repurchase authorization was also announced.
The stock is trading lower due to the reaffirmation of FY24 guidance, which includes reduced sales and EPS expectations compared to previous guidance. The announcement of long-term growth plans and a new share repurchase authorization did not offset the negative sentiment from the guidance reaffirmation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100