Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $538.00

Ulta Beauty (NASDAQ:ULTA) had its price target lifted by Canaccord Genuity Group from $500.00 to $538.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 24.48% from the company’s current price.

Several other equities research analysts have also weighed in on the company. BMO Capital Markets raised their price objective on Ulta Beauty from $385.00 to $420.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. TD Cowen decreased their price target on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. William Blair downgraded Ulta Beauty from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their target price on shares of Ulta Beauty from $350.00 to $370.00 and gave the stock an “underweight” rating in a report on Tuesday. Finally, Piper Sandler boosted their price target on shares of Ulta Beauty from $390.00 to $394.00 and gave the company a “neutral” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Ulta Beauty has a consensus rating of “Hold” and an average target price of $454.43.

Ulta Beauty Price Performance

NASDAQ:ULTA traded up $0.89 during midday trading on Tuesday, reaching $432.19. 1,424,741 shares of the company traded hands, compared to its average volume of 825,157. Ulta Beauty has a twelve month low of $318.17 and a twelve month high of $574.76. The company has a fifty day moving average price of $398.53 and a 200 day moving average price of $383.10. The firm has a market capitalization of $20.04 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 2.38 and a beta of 1.28.

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

Hedge Funds Weigh In On Ulta Beauty

Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in Ulta Beauty by 180,713.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock valued at $481,952,000 after buying an additional 1,237,884 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in Ulta Beauty during the third quarter worth about $359,480,000. Holocene Advisors LP raised its stake in Ulta Beauty by 3,246.2% in the 3rd quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock worth $134,737,000 after purchasing an additional 335,914 shares in the last quarter. Atreides Management LP bought a new stake in Ulta Beauty in the 3rd quarter valued at about $73,069,000. Finally, Hsbc Holdings PLC grew its position in shares of Ulta Beauty by 87.3% during the 2nd quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock worth $130,380,000 after purchasing an additional 157,497 shares in the last quarter. Institutional investors and hedge funds 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.