Last year i started a position in ULTA, buying between $370-450 and ultimately selling out at $540 earlier this year. The stock is now again crashed into the $370's after the CEO warned of a slow down in the beauty industry among other concerns. ELF just absolutely crushed earnings, which has me thinking…. is the industry really fine and we should see an ULTA revival?
Nothing is ever certain of course, but with a forward P/E of 14 and a recent 34% correction, its making me wonder if its time to start again.
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