NEW YORK (

TheStreet

) --

Ulta Salon Cosmetics & Fragrances

(Nasdaq:

ULTA

) hit a new 52-week high Wednesday as it is currently trading at $92.21, above its previous 52-week high of $92 with 466,094 shares traded as of 2:15 p.m. ET. Average volume has been 959,800 shares over the past 30 days.

Ulta Salon Cosmetics & Fragrances has a market cap of $4.79 billion and is part of the

services

sector and

diversified services

industry. Shares are up 39.6% year to date as of the close of trading on Tuesday.

Ulta Salon, Cosmetics & Fragrance, Inc., a beauty retailer, provides prestige, mass, and salon products; and salon services in the United States. The company has a P/E ratio of 47.2, below the average diversified services industry P/E ratio of 66.1 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Ulta Salon Cosmetics & Fragrances as a

buy

. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, robust revenue growth, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full

Ulta Salon Cosmetics & Fragrances Ratings Report

.

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