Jim Cramer: If ULTA Comes Down, Buy It!

TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer awaits earnings from ULTA Salon, Cosmetics and Fragrance (ULTA), set to be released on Thursday after the markets close. Analysts expect the company to report fourth quarter net income of $1.55 on sales of $1.24 billion. During the same quarter last year, it posted earnings of $1.35 on sales of $1.05 billion. ‘I look at ULTA as a same-store sales play,’ Cramer said. ‘I’ve been liking ULTA for a very long time,’ adding that he’s not going to get in front of a freight train of shorts who are betting against the stock. But Cramer said if the stock comes down, that could be a time to buy. Shares lost 14% year-to-date.