Morgan Stanley Lowers Ulta Beauty (NASDAQ:ULTA) Price Target to $460.00

Ulta Beauty (NASDAQ:ULTA) had its price objective reduced by analysts at Morgan Stanley from $500.00 to $460.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the specialty retailer’s stock. Morgan Stanley’s price target indicates a potential upside of 46.28% from the company’s current price.

ULTA has been the topic of several other research reports. Oppenheimer boosted their target price on Ulta Beauty from $505.00 to $515.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Stifel Nicolaus raised their target price on shares of Ulta Beauty from $455.00 to $475.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Barclays upped their price target on shares of Ulta Beauty from $410.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 9th. Canaccord Genuity Group lifted their price objective on shares of Ulta Beauty from $500.00 to $538.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler dropped their target price on shares of Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $452.04.

Ulta Beauty Stock Down 4.5 %

Ulta Beauty stock opened at $314.47 on Friday. The business’s 50-day simple moving average is $386.49 and its 200 day simple moving average is $386.82. The stock has a market cap of $14.58 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.89 and a beta of 1.34. Ulta Beauty has a 12-month low of $309.01 and a 12-month high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the business earned $8.08 earnings per share. The company’s revenue was down 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that Ulta Beauty will post 23.96 EPS for the current year.

Institutional Trading of Ulta Beauty

Large investors have recently modified their holdings of the business. Impax Asset Management Group plc grew its stake in Ulta Beauty by 11.8% in the 3rd quarter. Impax Asset Management Group plc now owns 93,419 shares of the specialty retailer’s stock worth $36,351,000 after buying an additional 9,863 shares in the last quarter. Sigma Planning Corp raised its position in Ulta Beauty by 49.2% during the third quarter. Sigma Planning Corp now owns 1,159 shares of the specialty retailer’s stock valued at $451,000 after purchasing an additional 382 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in Ulta Beauty by 44.7% during the third quarter. Apollon Wealth Management LLC now owns 1,399 shares of the specialty retailer’s stock worth $544,000 after purchasing an additional 432 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Ulta Beauty by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,909 shares of the specialty retailer’s stock worth $43,546,000 after purchasing an additional 1,687 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Ulta Beauty by 24.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 9,907 shares of the specialty retailer’s stock valued at $3,855,000 after purchasing an additional 1,977 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

About Ulta Beauty

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.