Ulta Beauty (NASDAQ:ULTA) Given New $500.00 Price Target at Canaccord Genuity Group

Ulta Beauty (NASDAQ:ULTA) had its price target cut by Canaccord Genuity Group from $522.00 to $500.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company dropped their target price on Ulta Beauty from $350.00 to $325.00 and set an underweight rating for the company in a research report on Wednesday, July 24th. Barclays dropped their price objective on Ulta Beauty from $394.00 to $355.00 and set an equal weight rating for the company in a report on Friday, June 28th. Stifel Nicolaus reduced their target price on shares of Ulta Beauty from $565.00 to $475.00 and set a hold rating on the stock in a research note on Tuesday, May 14th. Citigroup dropped their price target on shares of Ulta Beauty from $400.00 to $375.00 and set a neutral rating for the company in a research note on Friday, August 23rd. Finally, Robert W. Baird reduced their price objective on shares of Ulta Beauty from $525.00 to $485.00 and set an outperform rating on the stock in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $488.00.

Ulta Beauty Stock Down 1.0 %

Ulta Beauty stock opened at $371.35 on Tuesday. The stock has a 50-day simple moving average of $373.59 and a 200 day simple moving average of $429.22. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.73 and a beta of 1.37. Ulta Beauty has a 12-month low of $318.17 and a 12-month high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.19 by $0.28. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the previous year, the firm posted $6.88 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Ulta Beauty will post 25.62 EPS for the current year.

Insider Buying and Selling

In other Ulta Beauty news, Director Catherine Ann Halligan sold 100 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total transaction of $39,008.00. Following the completion of the transaction, the director now owns 2,017 shares in the company, valued at approximately $786,791.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jodi J. Caro sold 650 shares of the business’s stock in a transaction 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 sale, 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 SEC, which is accessible through the SEC website. Also, Director Catherine Ann Halligan sold 100 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total transaction of $39,008.00. Following the completion of the transaction, the director now directly owns 2,017 shares of the company’s stock, valued at approximately $786,791.36. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ulta Beauty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in Ulta Beauty during the fourth quarter worth about $93,000. Russell Investments Group Ltd. raised its stake in shares of Ulta Beauty by 4.6% during the 4th quarter. Russell Investments Group Ltd. now owns 56,580 shares of the specialty retailer’s stock worth $27,698,000 after purchasing an additional 2,490 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Ulta Beauty by 76.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 8,929 shares of the specialty retailer’s stock valued at $4,375,000 after buying an additional 3,874 shares during the last quarter. Savant Capital LLC grew its stake in shares of Ulta Beauty by 30.2% in the fourth quarter. Savant Capital LLC now owns 1,436 shares of the specialty retailer’s stock valued at $704,000 after buying an additional 333 shares in the last quarter. Finally, Y.D. More Investments Ltd increased its holdings in Ulta Beauty by 28.4% during the fourth quarter. Y.D. More Investments Ltd now owns 7,685 shares of the specialty retailer’s stock worth $3,766,000 after buying an additional 1,700 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

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.