Why Ulta Salon Cosmetics & Fragrance (ULTA) Stock Is Up After Hours

NEW YORK (TheStreet) -- Ulta Salon Cosmetics & Fragrance (ULTA) stock is gaining in post-market trading after the company reported better-than-expected earnings and sales in its first quarter. 

After the bell, shares gained 6.9% to $91.15.

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. 

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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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