When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. Ulta Beauty just met that criteria with a new score of 86.
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This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against that of all other stocks.
History reveals that the market's biggest winners tend to have an RS Rating of at least 80 in the early stages of their moves.
Ulta Beauty is in a buy range after clearing a 401.71 entry in a cup with handle. The proper buying range is up to 5% above the initial entry. Once a stock hits that benchmark, it's best to wait for it to set up another buying opportunity.
Regarding fundamentals, the company has posted two quarters of rising earnings growth. Revenue gains have been less impressive, coming in at -2% last quarter. The company is expected to report its next quarterly numbers on or around May 29.
Ulta Beauty holds the No. 2 rank among its peers in the Retail-Specialty industry group. RB Global is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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