1 Incredible Stock That Doubled Over the Past 3 Years and Can Do It Again
Great growth stocks can come in many forms. Growth investors often focus on the tech sector, and that's where you can find a lot of leading candidates. But often it's the stocks you find in unexpected places that offer the most attractive opportunities.
Take Ulta Beauty (NASDAQ: ULTA). It's a consumer goods company that markets beauty products. But it has grown to become one of the largest cosmetics companies in the U.S. and the largest specialty beauty retailer with $10.5 billion in trailing-12-month sales. It's growing and profitable, and it has plenty of room to run. Though the stock has more than doubled over the past three years, it can do it again. Here's why.
Beauty companies are typically split into upscale and mass market, or department store versus drugstore. Twenty years ago, those were the main sources of beauty products. Some of that has been changing over the past few years. Smaller players have carved out a niche with a direct-to-consumer strategy, and more companies are going digital. But Ulta uses an omnichannel approach to offer 600 brands and 25,000 products that attract customers from the entire spectrum of beauty product lovers.
Source Fool.com
