Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $480.00

Ulta Beauty (NASDAQ:ULTA) had its target price lifted by equities researchers at Loop Capital from $450.00 to $480.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. Loop Capital’s price objective would indicate a potential upside of 12.11% from the stock’s current price.

ULTA has been the topic of several other research reports. UBS Group boosted their price objective on Ulta Beauty from $470.00 to $490.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James reduced their price target on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Piper Sandler lifted their price objective on shares of Ulta Beauty from $357.00 to $360.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Bank of America dropped their target price on shares of Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating on the stock in a research note on Friday, August 30th. Finally, Telsey Advisory Group raised their price target on shares of Ulta Beauty from $450.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $439.30.

Ulta Beauty Price Performance

Shares of ULTA stock opened at $428.17 on Monday. The firm has a 50-day moving average of $374.15 and a 200-day moving average of $376.63. Ulta Beauty has a one year low of $318.17 and a one year high of $574.76. The company has a market cap of $19.85 billion, a P/E ratio of 17.13, a P/E/G ratio of 2.42 and a beta of 1.33.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, beating the consensus estimate of $4.45 by $0.69. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business posted $5.07 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, research analysts expect that Ulta Beauty will post 23.48 earnings per share for the current fiscal year.

Institutional Trading of Ulta Beauty

Several institutional investors and hedge funds have recently bought and sold shares of the company. Choreo LLC grew its position in shares of Ulta Beauty by 71.7% during the 2nd quarter. Choreo LLC now owns 2,868 shares of the specialty retailer’s stock valued at $1,103,000 after purchasing an additional 1,198 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Ulta Beauty during the second quarter valued at $19,136,000. Whittier Trust Co. of Nevada Inc. grew its position in Ulta Beauty by 5.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,778 shares of the specialty retailer’s stock worth $1,072,000 after buying an additional 139 shares in the last quarter. Jensen Investment Management Inc. increased its position in shares of Ulta Beauty by 17.9% in the third quarter. Jensen Investment Management Inc. now owns 11,330 shares of the specialty retailer’s stock worth $4,409,000 after purchasing an additional 1,720 shares during the last quarter. Finally, Distillate Capital Partners LLC purchased a new stake in Ulta Beauty in the second quarter valued at approximately $14,665,000. 90.39% of the stock is currently owned by hedge funds and other 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.