Ulta Beauty (NASDAQ:ULTA) Price Target Cut to $380.00 by Analysts at TD Cowen

Ulta Beauty (NASDAQ:ULTA) had its target price decreased by TD Cowen from $390.00 to $380.00 in a report released on Thursday morning, Benzinga reports. TD Cowen currently has a hold rating on the specialty retailer’s stock.

A number of other equities research analysts have also commented on ULTA. BMO Capital Markets lowered their price target on Ulta Beauty from $500.00 to $385.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Oppenheimer reissued an “outperform” rating and set a $435.00 price target on shares of Ulta Beauty in a research report on Wednesday, October 16th. Stifel Nicolaus upped their price objective on shares of Ulta Beauty from $385.00 to $395.00 and gave the stock a “hold” rating in a research report on Thursday. Robert W. Baird decreased their price objective on shares of Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating for the company in a research note on Friday, August 23rd. Finally, Evercore ISI cut their target price on Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Ulta Beauty presently has a consensus rating of “Hold” and an average price target of $423.71.

Ulta Beauty Stock Down 0.8 %

Shares of NASDAQ:ULTA opened at $368.92 on Thursday. Ulta Beauty has a twelve month low of $318.17 and a twelve month high of $574.76. The stock’s 50 day moving average is $373.91 and its 200-day moving average is $386.02. The firm has a market capitalization of $17.38 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.12 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS 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 business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the firm posted $6.02 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts anticipate that Ulta Beauty will post 23.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

Several large investors have recently modified their holdings of ULTA. Allspring Global Investments Holdings LLC boosted its holdings in Ulta Beauty by 63.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,468 shares of the specialty retailer’s stock worth $2,128,000 after buying an additional 2,114 shares during the period. Alecta Tjanstepension Omsesidigt raised its holdings in Ulta Beauty by 14.4% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 516,405 shares of the specialty retailer’s stock valued at $200,944,000 after acquiring an additional 65,000 shares during the period. Blue Trust Inc. lifted its position in shares of Ulta Beauty by 22.4% during the third quarter. Blue Trust Inc. now owns 240 shares of the specialty retailer’s stock worth $93,000 after acquiring an additional 44 shares in the last quarter. Richard W. Paul & Associates LLC boosted its holdings in shares of Ulta Beauty by 32.3% in the third quarter. Richard W. Paul & Associates LLC now owns 2,774 shares of the specialty retailer’s stock worth $1,079,000 after acquiring an additional 678 shares during the period. Finally, Aaron Wealth Advisors LLC purchased a new position in shares of Ulta Beauty in the third quarter valued at $215,000. Hedge funds and other 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.