JPMorgan Chase & Co. Increases Ulta Beauty (NASDAQ:ULTA) Price Target to $472.00

Ulta Beauty (NASDAQ:ULTA) had its target price hoisted by JPMorgan Chase & Co. from $450.00 to $472.00 in a report issued on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty retailer’s stock.

Several other research firms have also recently weighed in on ULTA. Raymond James dropped their price objective on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. TD Cowen decreased their price target on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. DA Davidson lowered their price objective on Ulta Beauty from $507.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, August 30th. BMO Capital Markets set a $385.00 target price on shares of Ulta Beauty in a research report on Thursday. Finally, Canaccord Genuity Group lowered their price target on shares of Ulta Beauty from $522.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ulta Beauty has an average rating of “Hold” and an average target price of $420.71.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $369.20 on Monday. Ulta Beauty has a 52 week low of $318.17 and a 52 week high of $574.76. The firm has a market cap of $17.40 billion, a P/E ratio of 14.82, a P/E/G ratio of 2.12 and a beta of 1.32. The business’s fifty day moving average is $374.89 and its two-hundred day moving average is $385.46.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.17). The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $6.02 EPS. On average, equities research analysts predict that Ulta Beauty will post 23.06 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Choreo LLC boosted its holdings in Ulta Beauty by 71.7% during the second quarter. Choreo LLC now owns 2,868 shares of the specialty retailer’s stock worth $1,103,000 after purchasing an additional 1,198 shares during the last quarter. Duality Advisers LP grew its holdings in shares of Ulta Beauty by 92.8% in the 1st quarter. Duality Advisers LP now owns 7,278 shares of the specialty retailer’s stock valued at $3,806,000 after acquiring an additional 3,504 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ulta Beauty by 10.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,799 shares of the specialty retailer’s stock valued at $46,954,000 after acquiring an additional 8,337 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Ulta Beauty in the second quarter valued at about $19,136,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Ulta Beauty by 5.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,778 shares of the specialty retailer’s stock worth $1,072,000 after acquiring an additional 139 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

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.