When considering what names to put on a stock watchlist, one good hunting technique is checking whether it has an 80 or higher RS Rating. Market research shows that the market's biggest winners typically have an 80 or higher RS Rating in the early stages of their moves. Ulta Beauty stock just met that criteria with a new score of 81.
Highly ranked Ulta Beauty stock is building a consolidation with a 429.58 entry, not far below its all-time high. However, it soared from a 124.05 low in late March 2020 amid the Covid crash to an all-time intraday high 438.63 on April 21 this year. In a sign of strength, it corrected less than most stock in the first half 2022 despite the severe market correction. See if the stock can break out in volume at least 40% above average. Tuesday afternoon, Chicago area-based beauty products chain Ulta Beauty traded above 373, down about 1.6% amid a market retreat.
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Ulta Beauty Stock In Top 9% Overall
Ulta Beauty earnings shot up 54% in the latest quarterly report, to $6.28 per share. Sales grew 21% to $2.35 billion. Look for the next report on or around Aug. 25.
Among its other key ratings, Ulta Beauty has a good-looking 90 EPS Rating, of a best-possible 99. Similarly, Ulta Beauty stock boasts a 91 Composite Rating, putting it in the top 9% of all companies for profit growth in recent quarters and years. One yellow flag is its D+ Accumulation/Distribution Rating, which shows slightly more selling by funds than buying of its shares. Look for that to improve to C or better.
Ranked No. 2 In Group
Ulta Beauty stock earns the No. 2 rank among its peers in the Retail-Specialty industry group. Sally Beauty and National Vision Holdings are also among the group's highest-rated stocks. The group is ranked No. 66 of the 197 industries IBD tracks.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This proprietary Relative Strength Rating measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
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