Ulta Beauty (NASDAQ:ULTA) Given New $357.00 Price Target at Piper Sandler

Ulta Beauty (NASDAQ:ULTA) had its target price lifted by Piper Sandler from $356.00 to $357.00 in a report released on Thursday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the specialty retailer’s stock.

A number of other research analysts have also recently commented on the company. Barclays raised their target price on Ulta Beauty from $328.00 to $335.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Evercore ISI lowered their price objective on Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, August 26th. Canaccord Genuity Group lowered their price objective on Ulta Beauty from $522.00 to $500.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. The Goldman Sachs Group lowered their price objective on Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Finally, UBS Group lowered their price objective on Ulta Beauty from $550.00 to $505.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $423.71.

Ulta Beauty Stock Performance

Shares of ULTA stock opened at $371.72 on Thursday. The firm has a market cap of $17.52 billion, a P/E ratio of 14.92, a P/E/G ratio of 2.12 and a beta of 1.32. Ulta Beauty has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The business’s 50 day moving average price is $372.98 and its 200-day moving average price is $388.43.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.02 EPS. As a group, equities analysts predict that Ulta Beauty will post 23.1 EPS for the current year.

Institutional Trading of Ulta Beauty

Several large investors have recently modified their holdings of ULTA. UMB Bank n.a. grew its holdings in shares of Ulta Beauty by 83.3% in the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 30 shares during the period. Riverview Trust Co bought a new stake in shares of Ulta Beauty in the first quarter worth $30,000. Sound Income Strategies LLC grew its holdings in shares of Ulta Beauty by 490.0% in the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 49 shares during the period. LRI Investments LLC bought a new stake in shares of Ulta Beauty in the first quarter worth $31,000. Finally, Innealta Capital LLC bought a new stake in shares of Ulta Beauty in the second quarter worth $32,000. Institutional investors own 90.39% of the company’s stock.

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.