Why Elizabeth Arden (RDEN) Stock Is Higher In After-Hours Trading

NEW YORK (TheStreet) -- Shares of Elizabeth Arden (RDEN) are up 0.52% to $28.78 in after-hours trading.

The company is benefiting from positive market sentiment from beauty supply retailer Ulta Salon Cosmetics  (ULTA).  

Ulta reported fiscal first-quarter earnings that rose 19% on better-than-expected sales growth at the close on Tuesday.

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Ulta also sells Elizabeth Arden products, including makeup and perfume.

Elizabeth Arden shares closed higher, up 14.34% to $28.63, on Wednesday.

Separately, TheStreet Ratings team rates ELIZABETH ARDEN INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate ELIZABETH ARDEN INC (RDEN) a HOLD. The primary factors that have impacted our rating are mixed; some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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