Bank of America Lowers Ulta Beauty (NASDAQ:ULTA) Price Target to $380.00

Ulta Beauty (NASDAQ:ULTA) had its price objective decreased by investment analysts at Bank of America from $425.00 to $380.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. Bank of America‘s price target suggests a potential upside of 3.38% from the stock’s previous close.

ULTA has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Ulta Beauty from $552.00 to $448.00 and set a “buy” rating for the company in a research note on Wednesday. TD Cowen lowered their target price on shares of Ulta Beauty from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Citigroup reduced their price target on Ulta Beauty from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, August 23rd. BMO Capital Markets lowered their price objective on Ulta Beauty from $540.00 to $500.00 and set a “market perform” rating on the stock in a report on Friday, May 31st. Finally, The Goldman Sachs Group cut their price objective on Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $471.30.

Ulta Beauty Stock Performance

Shares of ULTA opened at $367.58 on Friday. The company has a market capitalization of $17.54 billion, a PE ratio of 14.34, a PEG ratio of 1.75 and a beta of 1.37. The company’s 50 day moving average price is $373.05 and its 200 day moving average price is $427.73. Ulta Beauty has a 52 week low of $318.17 and a 52 week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The company’s revenue was up .9% compared to the same quarter last year. During the same period last year, the company posted $6.02 earnings per share. On average, equities analysts forecast that Ulta Beauty will post 25.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total transaction of $252,642.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction dated Tuesday, June 25th. The stock was 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 directly owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the director now directly owns 2,017 shares in the company, valued at approximately $786,791.36. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Ulta Beauty

Hedge funds and other institutional investors have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Ulta Beauty during the 2nd quarter valued at $124,000. Dana Investment Advisors Inc. grew its stake in shares of Ulta Beauty by 9.9% during the second quarter. Dana Investment Advisors Inc. now owns 757 shares of the specialty retailer’s stock worth $292,000 after purchasing an additional 68 shares during the period. Aristides Capital LLC bought a new stake in Ulta Beauty in the second quarter valued at about $386,000. Granite Bay Wealth Management LLC acquired a new position in Ulta Beauty in the second quarter valued at about $538,000. Finally, Ted Buchan & Co acquired a new position in Ulta Beauty in the second quarter valued at about $551,000. 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.