Ulta Beauty (NASDAQ:ULTA) Price Target Cut to $430.00

Ulta Beauty (NASDAQ:ULTA) had its price target cut by stock analysts at Evercore ISI from $500.00 to $430.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the specialty retailer’s stock. Evercore ISI’s price target would suggest a potential upside of 15.79% from the company’s current price.

Several other research firms also recently issued reports on ULTA. BMO Capital Markets lowered their price objective on Ulta Beauty from $540.00 to $500.00 and set a “market perform” rating for the company in a research note on Friday, May 31st. JPMorgan Chase & Co. raised their price target on shares of Ulta Beauty from $530.00 to $544.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Jefferies Financial Group reduced their price objective on shares of Ulta Beauty from $438.00 to $412.00 and set a “hold” rating on the stock in a research note on Friday, May 24th. Barclays lowered their target price on Ulta Beauty from $394.00 to $355.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Finally, TD Cowen reduced their price target on Ulta Beauty from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $488.00.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $371.35 on Monday. The company’s 50 day moving average price is $373.59 and its two-hundred day moving average price is $429.22. The firm has a market capitalization of $17.72 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.73 and a beta of 1.37. Ulta Beauty has a fifty-two week low of $318.17 and a fifty-two week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data 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 return on equity of 58.06% and a net margin of 11.13%. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same quarter in the previous year, the company posted $6.88 EPS. Ulta Beauty’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts expect that Ulta Beauty will post 25.62 earnings per share for the current year.

Insider Buying and Selling at Ulta Beauty

In other news, Director Catherine Ann Halligan sold 100 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total transaction of $39,008.00. Following the transaction, the director now directly owns 2,017 shares of the company’s stock, valued at $786,791.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ulta Beauty news, insider Jodi J. Caro sold 650 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total transaction of $252,642.00. Following the completion of the sale, the insider now directly owns 6,801 shares of the company’s stock, valued at approximately $2,643,412.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Catherine Ann Halligan sold 100 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value 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 disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Ulta Beauty in the 4th quarter worth approximately $263,192,000. Global Assets Advisory LLC bought a new position in Ulta Beauty in the 1st quarter valued at $176,753,000. TD Asset Management Inc increased its position in shares of Ulta Beauty by 177.8% during the 4th quarter. TD Asset Management Inc now owns 407,347 shares of the specialty retailer’s stock valued at $199,596,000 after purchasing an additional 260,740 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Ulta Beauty by 210.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 271,550 shares of the specialty retailer’s stock worth $141,988,000 after purchasing an additional 184,060 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of Ulta Beauty by 87.3% in the 2nd quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock worth $130,380,000 after buying an additional 157,497 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other 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.