13 Best Consumer Discretionary Stocks To Buy Now

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12. Ulta Beauty, Inc. (NASDAQ:ULTA)

Number of Hedge Fund Holders: 42

Ulta Beauty, Inc. (NASDAQ:ULTA) ranks among the best consumer discretionary stocks to buy now. Loop Capital maintained its Buy rating on Ulta Beauty, Inc. (NASDAQ:ULTA) and increased its price target from $480 to $510 on June 16.

The increase followed Loop Capital’s latest pricing assessment on luxury beauty products, which revealed that Ulta Beauty’s prices are now only 0.5% higher than those of its competitors on average—a substantial improvement from the 11.6% premium noted in December.

Loop Capital also mentioned rising consumer sentiment as a benefit for Ulta Beauty, Inc. (NASDAQ:ULTA), pointing out that for the first time in six months, the University of Michigan’s preliminary consumer sentiment index rose in June. According to the firm, Ulta Beauty’s core “beauty enthusiast” customers, in particular, find beauty products to be less discretionary than many investors recognize.

Ulta Beauty, Inc. (NASDAQ:ULTA) is a speciality beauty retailer in the U.S. that operates more than 1,445 retail stores across 50 states. The company provides a variety of skincare, hair care, cosmetics, perfumes, and salon services.

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