Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

Equity Bottom-Up

<ul><li>We are reiterating our Buy rating and updating our projections and price target to reflect the 1 for 20 RGS reverse stock split, which was completed yesterday.</li><li>We continue to view this action as the first step in the company's recently announced strategic review; we note the reverse stock split will allow RGS to regain compliance with the NYSE Minimum Bid Price Requirements.</li><li>We reiterate our Buy rating and now $40 price target for RGS.</li></ul>

We are reiterating our Buy rating and updating our projections and price target to reflect the 1 for 20 RGS reverse stock split, which was completed yesterday.We continue to view this action as the first step in the company's recently announced strategic review; we note the reverse stock split will allow RGS to regain compliance with the NYSE Minimum Bid Price Requirements.We reiterate our Buy rating and now $40 price target for RGS.

RGS: Updating Model for Reverse Stock Split; Reiterate Buy Rating

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Ulta Beauty surpassed the revenue and earnings expectations of Wall Street.</li><li>For the quarter, all major categories produced comp growth.</li><li>The quarter saw double-digit growth in both prestige and mass skin care.</li></ul>

Ulta Beauty surpassed the revenue and earnings expectations of Wall Street.For the quarter, all major categories produced comp growth.The quarter saw double-digit growth in both prestige and mass skin care.

Ulta Beauty Inc.: The Powerhouses Behind Their Double-Digit Comp Growth! - Major Drivers

Equity Capital Markets

<ul><li>Ulta Beauty managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>However, the importance of self-care remains strong as evidenced by the solid engagement with beauty products.</li><li>They look to enhance guest experiences across touchpoints, including their digital store and Ulta Beauty at Target.</li></ul>

Ulta Beauty managed to exceed analyst expectations in terms of revenue as well as earnings.However, the importance of self-care remains strong as evidenced by the solid engagement with beauty products.They look to enhance guest experiences across touchpoints, including their digital store and Ulta Beauty at Target.

Ulta Beauty: Strong Self-Care Sales Are a Sign of Things to Come – Key Drivers

<ul><li>Ulta Beauty delivered a good performance in the last quarter with robust revenue growth driving double-digit earnings growth and operating margin expansion.</li><li>The double-digit comp of Ulta Beauty in this quarter was an outcome of growth from its core assortment, compelling newness, and price increases.</li><li>To support guest education and drive discovery, this quarter Ulta Beauty introduced its Skincare We Love All in every store.</li></ul>

Ulta Beauty delivered a good performance in the last quarter with robust revenue growth driving double-digit earnings growth and operating margin expansion.The double-digit comp of Ulta Beauty in this quarter was an outcome of growth from its core assortment, compelling newness, and price increases.To support guest education and drive discovery, this quarter Ulta Beauty introduced its Skincare We Love All in every store.

<ul><li>Ulta Beauty performed well in this quarter and delivered an all-around beat.</li><li>Based on point-of-sale statistics from the NPD Group, all key categories for the quarter exceeded its expectations, and they grew their market share in prestige beauty compared to the previous year.</li><li>Haircare, their second-largest category, experienced double-digit growth for another quarter due to newness and excellent participation in their semi-annual Gorgeous Hair Event.</li></ul>

Ulta Beauty performed well in this quarter and delivered an all-around beat.Based on point-of-sale statistics from the NPD Group, all key categories for the quarter exceeded its expectations, and they grew their market share in prestige beauty compared to the previous year.Haircare, their second-largest category, experienced double-digit growth for another quarter due to newness and excellent participation in their semi-annual Gorgeous Hair Event.

United States

Ulta Beauty, Inc. operates a chain of beauty stores. The Company offers cosmetics, fragrance, skin, and hair care products, as well as salon services. Ulta Beauty serves customers throughout the United States.

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Ulta Beauty (ULTA US)

RGS: Updating Model for Reverse Stock Split; Reiterate Buy Rating

We are reiterating our Buy rating and updating our projections and price target to reflect the 1 for 20 RGS reverse stock split, which was...

Small Cap Consumer Research

Ulta Beauty Inc.: The Powerhouses Behind Their Double-Digit Comp Growth! - Major Drivers

Ulta Beauty surpassed the revenue and earnings expectations of Wall Street. For the quarter, all major categories produced comp growth. The...

Baptista Research

Ulta Beauty: Strong Self-Care Sales Are a Sign of Things to Come – Key Drivers

Ulta Beauty managed to exceed analyst expectations in terms of revenue as well as earnings. However, the importance of self-care remains strong as...

Baptista Research

Ulta Beauty: Major Drivers

Ulta Beauty delivered a good performance in the last quarter with robust revenue growth driving double-digit earnings growth and operating margin...

Baptista Research

Ulta Beauty: The Beauty& Campaign

Ulta Beauty performed well in this quarter and delivered an all-around beat. Based on point-of-sale statistics from the NPD Group, all key...

Baptista Research

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