Ulta Beauty (NASDAQ:ULTA) PT Raised to $472.00

Ulta Beauty (NASDAQ:ULTA) had its target price hoisted by analysts at JPMorgan Chase & Co. from $450.00 to $472.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 27.94% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. DA Davidson decreased their price target on shares of Ulta Beauty from $507.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Raymond James decreased their target price on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Oppenheimer reiterated an “outperform” rating and issued a $435.00 price target on shares of Ulta Beauty in a research report on Wednesday, October 16th. Evercore ISI cut their price target 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. Finally, Piper Sandler raised their price objective on Ulta Beauty from $356.00 to $357.00 and gave the stock a “neutral” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $420.71.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $368.92 on Monday. The stock has a market cap of $17.38 billion, a PE ratio of 14.80, a P/E/G ratio of 2.12 and a beta of 1.32. The firm has a 50-day moving average of $373.91 and a 200-day moving average of $386.02. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.02 EPS. As a group, analysts predict that Ulta Beauty will post 23.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ULTA. UMB Bank n.a. raised its holdings in shares of Ulta Beauty by 83.3% during the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares during the period. Riverview Trust Co bought a new position in shares of Ulta Beauty in the first quarter valued at $30,000. Sound Income Strategies LLC grew its holdings in shares of Ulta Beauty by 490.0% during the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 49 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Ulta Beauty during the first quarter worth about $31,000. Finally, Innealta Capital LLC bought a new stake in shares of Ulta Beauty during the second quarter worth about $32,000. Institutional investors own 90.39% of the company’s stock.

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.