Ulta Beauty (NASDAQ:ULTA) Price Target Cut to $355.00 by Analysts at Barclays

Ulta Beauty (NASDAQ:ULTA) had its price target reduced by Barclays from $394.00 to $355.00 in a report issued on Friday, Benzinga reports. Barclays currently has an equal weight rating on the specialty retailer’s stock.

Several other research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Ulta Beauty from $574.00 to $627.00 in a research report on Friday, March 15th. Raymond James dropped their target price on Ulta Beauty from $630.00 to $610.00 and set a strong-buy rating for the company in a research report on Wednesday, April 3rd. Jefferies Financial Group dropped their target price on Ulta Beauty from $438.00 to $412.00 and set a hold rating for the company in a research report on Friday, May 24th. Robert W. Baird dropped their target price on Ulta Beauty from $625.00 to $525.00 and set an outperform rating for the company in a research report on Wednesday, May 29th. Finally, Stifel Nicolaus dropped their target price on Ulta Beauty from $565.00 to $475.00 and set a hold rating for the company in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ulta Beauty currently has an average rating of Moderate Buy and an average price target of $503.87.

Ulta Beauty Trading Down 0.0 %

ULTA opened at $385.87 on Friday. The firm has a market cap of $18.41 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.68 and a beta of 1.36. Ulta Beauty has a 12 month low of $368.02 and a 12 month high of $574.76. The stock has a 50-day moving average of $392.42 and a 200 day moving average of $463.13.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, May 30th. The specialty retailer reported $6.47 EPS for the quarter, topping the consensus estimate of $6.19 by $0.28. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.72 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $6.88 earnings per share. On average, research analysts forecast that Ulta Beauty will post 25.76 earnings per share for the current fiscal year.

Ulta Beauty declared that its Board of Directors has approved a share repurchase program on Thursday, March 14th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty retailer to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Jodi J. Caro sold 650 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the completion of the transaction, the insider now owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ulta Beauty

A number of large investors have recently made changes to their positions in ULTA. Morgan Stanley increased its position in shares of Ulta Beauty by 56.7% during the third quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock worth $614,568,000 after purchasing an additional 556,809 shares in the last quarter. Norges Bank acquired a new position in shares of Ulta Beauty during the fourth quarter worth $263,192,000. Global Assets Advisory LLC acquired a new position in shares of Ulta Beauty during the first quarter worth $176,753,000. International Assets Investment Management LLC increased its position in shares of Ulta Beauty by 45,740.3% during the fourth quarter. International Assets Investment Management LLC now owns 291,544 shares of the specialty retailer’s stock worth $142,854,000 after purchasing an additional 290,908 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of Ulta Beauty by 177.8% in the 4th quarter. TD Asset Management Inc now owns 407,347 shares of the specialty retailer’s stock valued at $199,596,000 after acquiring an additional 260,740 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

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.