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Why Ulta Salon Cosmetics (ULTA) Stock Is Up Today

NEW YORK (TheStreet) -- Ulta Salon Cosmetics (ULTA - Get Report) stock is gaining Wednesday after the company reported a strong first quarter and guided for better-than-expected top-line growth in its second quarter. By midmorning, shares had spiked 14.4% to $97.56. 

Over the three months to April, the company earned 77 cents a share, 3 cents higher than what analysts surveyed by Thomson Reuters expected. Revenue of $713.8 million was up 22.5% year over year and beat estimates of $700 million. 

For its second quarter ending July, the beauty supplies retailer expects revenue between $706 million and $717 million with earnings of 78 cents to 82 cents a share. Analysts had estimates of $704 million and 82 cents a share. 

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TheStreet Ratings team rates ULTA SALON COSMETCS & FRAG as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate ULTA SALON COSMETCS & FRAG (ULTA) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, good cash flow from operations and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

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