Ulta Beauty (NASDAQ:ULTA) Stock Price Up 1.5% – Here’s What Happened

Ulta Beauty, Inc. (NASDAQ:ULTA)’s stock price shot up 1.5% on Friday . The company traded as high as $384.61 and last traded at $378.48. 358,964 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 952,990 shares. The stock had previously closed at $372.72.

Analysts Set New Price Targets

Several research firms have issued reports on ULTA. Robert W. Baird cut their price objective on Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating for the company in a report on Friday, August 23rd. TD Cowen cut their price target on shares of Ulta Beauty from $395.00 to $390.00 and set a “hold” rating for the company in a report on Thursday. Raymond James cut shares of Ulta Beauty from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $500.00 to $450.00 in a research note on Friday, August 30th. Piper Sandler reaffirmed a “neutral” rating and set a $356.00 price objective (down previously from $404.00) on shares of Ulta Beauty in a report on Friday, August 30th. Finally, Telsey Advisory Group reduced their target price on Ulta Beauty from $500.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Ulta Beauty has an average rating of “Hold” and an average target price of $425.08.

Ulta Beauty Stock Up 2.4 %

The firm has a market capitalization of $18.21 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 2.31 and a beta of 1.32. The company’s fifty day moving average is $368.42 and its two-hundred day moving average is $398.98.

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). Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the company earned $6.02 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts expect that Ulta Beauty, Inc. will post 23.21 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ULTA. Janiczek Wealth Management LLC raised its holdings in Ulta Beauty by 32.5% in the first quarter. Janiczek Wealth Management LLC now owns 102 shares of the specialty retailer’s stock worth $53,000 after purchasing an additional 25 shares during the period. Meeder Advisory Services Inc. increased its position in shares of Ulta Beauty by 5.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 478 shares of the specialty retailer’s stock valued at $250,000 after buying an additional 26 shares in the last quarter. Sage Capital Advisors llc raised its stake in Ulta Beauty by 5.4% during the 2nd quarter. Sage Capital Advisors llc now owns 525 shares of the specialty retailer’s stock worth $203,000 after buying an additional 27 shares during the period. Wedmont Private Capital lifted its holdings in Ulta Beauty by 2.9% during the first quarter. Wedmont Private Capital now owns 993 shares of the specialty retailer’s stock worth $519,000 after acquiring an additional 28 shares in the last quarter. Finally, Greenleaf Trust grew its stake in Ulta Beauty by 2.8% in the first quarter. Greenleaf Trust now owns 1,040 shares of the specialty retailer’s stock valued at $544,000 after acquiring an additional 28 shares during the period. Institutional investors own 90.39% of the company’s stock.

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.