Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $475.00

Ulta Beauty (NASDAQ:ULTA) had its price target hoisted by Bank of America from $460.00 to $475.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the specialty retailer’s stock.

Other analysts also recently issued reports about the stock. Piper Sandler lifted their price objective on shares of Ulta Beauty from $390.00 to $394.00 and gave the company a “neutral” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Loop Capital increased their price objective on shares of Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. William Blair downgraded Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. increased their price target on Ulta Beauty from $472.00 to $480.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Ulta Beauty currently has a consensus rating of “Hold” and an average target price of $460.30.

Ulta Beauty Trading Down 3.1 %

ULTA opened at $415.14 on Tuesday. The stock has a market capitalization of $19.25 billion, a P/E ratio of 16.61, a P/E/G ratio of 2.38 and a beta of 1.28. Ulta Beauty has a 12 month low of $318.17 and a 12 month high of $574.76. The firm’s fifty day simple moving average is $401.20 and its 200 day simple moving average is $383.86.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.69. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $5.07 earnings per share. On average, equities research analysts predict that Ulta Beauty will post 23.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in shares of Ulta Beauty by 180,713.0% during the third quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock worth $481,952,000 after purchasing an additional 1,237,884 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in Ulta Beauty in the 3rd quarter valued at $359,480,000. Holocene Advisors LP increased its position in Ulta Beauty by 3,246.2% during the 3rd quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock worth $134,737,000 after buying an additional 335,914 shares during the period. Atreides Management LP acquired a new stake in shares of Ulta Beauty during the third quarter worth $73,069,000. Finally, Hsbc Holdings PLC grew its stake in shares of Ulta Beauty by 87.3% in the second quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock valued at $130,380,000 after acquiring an additional 157,497 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.