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May 23, 2022, 10:05 a.m. EDT

Beauty category showing resiliency with Ulta, Estee Lauder and Olaplex among analysts' top picks

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By Tonya Garcia

Consumers might be cutting back on some items due to inflation, but a survey conducted by Cowen analysts shows people plan to stick with their beauty regimen. Cowen surveyed 1,000 respondents and 70% to 75% indicate they will spend the same amount on beauty products this year compared with last year. Cowen puts the total addressable market (TAM) for the beauty category at $55 billion. Ulta Beauty Inc. /zigman2/quotes/210513442/composite ULTA -2.72% is the analyst group's top pick. "We believe Ulta will be less affected by waning consumer demand and continue to drive share gains, given the resilience of beauty," Cowen's report says. Other top picks include Estee Lauer /zigman2/quotes/200740220/composite EL -0.81% , Olaplex /zigman2/quotes/229722202/composite OLPX +0.42% and Neutrogena. Raymond James analysts note that Target Corp. /zigman2/quotes/207799045/composite TGT 0.00% called out the strength of the beauty category in the first-quarter despite a profit miss. E.L.F. Beauty Inc. /zigman2/quotes/202760864/composite ELF +2.19% is scheduled to report fiscal fourth-quarter earnings on Wednesday after the closing bell. The beauty brand has gained shelf space at Ulta, and D.A. Davidson says E.L.F. could double its shelf space in Walmart Inc. /zigman2/quotes/207374728/composite WMT +0.29% , Ulta and Target in the coming years. E.L.F. shares are down 35.2% for the year to date.

/zigman2/quotes/210513442/composite
US : U.S.: Nasdaq
$ 372.45
-10.40 -2.72%
Volume: 341,956
July 5, 2022 12:00p
P/E Ratio
18.41
Dividend Yield
N/A
Market Cap
$19.84 billion
Rev. per Employee
$223,167
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/zigman2/quotes/200740220/composite
US : U.S.: NYSE
$ 254.44
-2.08 -0.81%
Volume: 423,472
July 5, 2022 12:00p
P/E Ratio
27.78
Dividend Yield
0.94%
Market Cap
$91.67 billion
Rev. per Employee
$292,452
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/zigman2/quotes/229722202/composite
US : U.S.: Nasdaq
$ 14.48
+0.06 +0.42%
Volume: 262,829
July 5, 2022 12:01p
P/E Ratio
40.71
Dividend Yield
N/A
Market Cap
$9.36 billion
Rev. per Employee
$6.29M
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/zigman2/quotes/207799045/composite
US : U.S.: NYSE
$ 142.38
0.00 0.00%
Volume: 1.04M
July 5, 2022 12:01p
P/E Ratio
11.81
Dividend Yield
3.03%
Market Cap
$66.02 billion
Rev. per Employee
$237,729
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/zigman2/quotes/202760864/composite
US : U.S.: NYSE
$ 31.29
+0.67 +2.19%
Volume: 165,488
July 5, 2022 12:00p
P/E Ratio
76.78
Dividend Yield
N/A
Market Cap
$1.60 billion
Rev. per Employee
$1.29M
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/zigman2/quotes/207374728/composite
US : U.S.: NYSE
$ 122.99
+0.36 +0.29%
Volume: 1.80M
July 5, 2022 12:01p
P/E Ratio
26.47
Dividend Yield
1.82%
Market Cap
$336.15 billion
Rev. per Employee
$250,440
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