NEW YORK (TheStreet) -- Shares of Ulta are getting a boost on Thursday after Goldman Sachs analysts upgraded the stock to Buy from Neutral.

VIDEO TRANSCRIPT:

Shares of Ulta (ULTA) are climbing on Thursday after Goldman Sachs analysts upgraded the stock to Buy from Neutral.

Goldman Sachs also increased its  price objective on the stock to $118, up from $107.

At last check, shares of Ulta were up more than 3% to $104.45 on the news.

In other news, according to an SEC filing, Ulta CEO Mary Dillon bought 5,000 shares of the stock on Tuesday at an average price of $97.35 a share, for a total investment of nearly $487,000.

The beauty retailer last reported quarterly results on Thursday, March 13, when it said it earned $1.09 a share for the period, beating analyst estimates by 2 cents, according to Thomson Reuters.  Revenue exceeded expectations as well.

In New York, I'm Brittany Umar for TheStreet.

Written by Brittany Umar in New York.

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