10 Oversold Value Stocks To Buy Right Now

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

Year-to-Date Decline: 30.38%

Forward PE: 14.43

Number of Hedge Fund Holders: 40

Ulta Beauty, Inc. (NASDAQ:ULTA) is one of the largest beauty retailers in the US offering cosmetics, fragrances, skincare products, hair care products, and salon services. The firm has a clear vision of becoming the most loved beauty destination of its guests. As of February 3, 2024, Ulta Beauty operates 1,385 stores across all 50 states

The firm remains competitively differentiated based on three factors, shopping experience, value proposition, and convenience. The shopping experience is top-notch with over 25,000 products from over 600 brands, including the Ulta Beauty Collection, the firm’s private label. To make beauty accessible, the firm offers value through Ulta Beauty Rewards, its industry-leading loyalty program, targeted promotions through its CRM platform, coupons, and in-store events. For convenience, multiple options such as pickup in-store, buying online and picking up curbside, shipping from the store, and shipping to home are available.

In October, Ulta Beauty, Inc. (NASDAQ:ULTA) laid down its strategic priorities to drive market share leadership in beauty and wellness and profitable growth. The firm plans to increase new stores with a target of over 1,800 stores over the long-term, drive loyalty program growth to 50 million members by 2028, improve the immersive in-store experience as well as digital engagement, and lead in wellness with an expanded assortment and enhanced experience.

It is important to note that Ulta Beauty, Inc. (NASDAQ:ULTA) was the original disruptor in beauty bringing ‘All Things Beauty. All In One Place’ over 30 years ago. While the firm has a successful business model and a leadership position in a robust and expanding beauty market, it is poised to grow.