In the latest trading session, Ulta Beauty (ULTA) closed at $380.87, marking a -0.06% move from the previous day. This change lagged the S&P 500's 0.25% gain on the day. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 0.35%.

Heading into today, shares of the beauty products retailer had lost 5.62% over the past month, outpacing the Retail-Wholesale sector's loss of 16.19% and the S&P 500's loss of 11.03% in that time.

Ulta Beauty will be looking to display strength as it nears its next earnings release, which is expected to be May 26, 2022. On that day, Ulta Beauty is projected to report earnings of $4.43 per share, which would represent year-over-year growth of 8.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.13 billion, up 9.95% from the year-ago period.

Investors might also notice recent changes to analyst estimates for Ulta Beauty. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.01% higher within the past month. Ulta Beauty is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Ulta Beauty is holding a Forward P/E ratio of 20.51. This represents a premium compared to its industry's average Forward P/E of 11.52.

We can also see that ULTA currently has a PEG ratio of 2. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Retail - Miscellaneous was holding an average PEG ratio of 1.18 at yesterday's closing price.

The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Ulta Beauty Inc. (ULTA) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.