BMO Capital Markets Cuts Ulta Beauty (NASDAQ:ULTA) Price Target to $404.00

Ulta Beauty (NASDAQ:ULTA) had its price target trimmed by BMO Capital Markets from $467.00 to $404.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a market perform rating on the specialty retailer’s stock.

Several other analysts also recently issued reports on ULTA. Citigroup boosted their target price on shares of Ulta Beauty from $450.00 to $457.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. William Blair downgraded shares of Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. Wells Fargo & Company cut their target price on shares of Ulta Beauty from $360.00 to $310.00 and set an “underweight” rating on the stock in a research note on Friday. Morgan Stanley lowered their price target on shares of Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating on the stock in a report on Friday. Finally, DA Davidson lowered their price target on shares of Ulta Beauty from $510.00 to $415.00 and set a “buy” 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $431.13.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $357.48 on Friday. The stock has a market capitalization of $16.58 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.89 and a beta of 1.34. Ulta Beauty has a 1 year low of $309.01 and a 1 year high of $544.36. The business’s fifty day moving average is $385.01 and its two-hundred day moving average is $386.94.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the prior year, the company earned $8.08 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. On average, research analysts forecast that Ulta Beauty will post 23.96 earnings per share for the current year.

Institutional Trading of Ulta Beauty

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Ulta Beauty by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,199,935 shares of the specialty retailer’s stock valued at $520,587,000 after purchasing an additional 11,205 shares during the last quarter. Capital World Investors bought a new stake in shares of Ulta Beauty during the fourth quarter valued at approximately $430,674,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Ulta Beauty during the third quarter valued at approximately $359,480,000. Deutsche Bank AG grew its stake in shares of Ulta Beauty by 1.4% during the fourth quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer’s stock valued at $285,123,000 after purchasing an additional 9,291 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its stake in shares of Ulta Beauty by 5.4% during the third quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock valued at $237,519,000 after purchasing an additional 31,540 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Ulta Beauty Company Profile

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.