Ulta Beauty, Inc. (NASDAQ:ULTA) Receives $420.71 Consensus Price Target from Brokerages

Ulta Beauty, Inc. (NASDAQ:ULTA) has been given an average rating of “Hold” by the twenty-four research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $420.71.

Several research firms have commented on ULTA. Wells Fargo & Company decreased their target price on shares of Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, August 30th. Robert W. Baird decreased 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. UBS Group cut their target price on Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Canaccord Genuity Group reduced their price target on Ulta Beauty from $522.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Bank of America lowered their price target on Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating on the stock in a report on Friday, August 30th.

Ulta Beauty Price Performance

NASDAQ:ULTA opened at $367.18 on Tuesday. The firm has a market capitalization of $17.30 billion, a P/E ratio of 14.73, a P/E/G ratio of 2.10 and a beta of 1.32. The business has a 50 day simple moving average of $376.31 and a 200 day simple moving average of $384.77. Ulta Beauty has a 12-month low of $318.17 and a 12-month high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced 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 firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The business’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $6.02 EPS. Research analysts anticipate that Ulta Beauty will post 23.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ULTA. UMB Bank n.a. raised its holdings in shares of Ulta Beauty by 83.3% during the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 30 shares during the period. Riverview Trust Co purchased a new stake in shares of Ulta Beauty in the first quarter valued at $30,000. Sound Income Strategies LLC boosted its position in shares of Ulta Beauty by 490.0% in the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock worth $31,000 after buying an additional 49 shares during the period. LRI Investments LLC acquired a new stake in shares of Ulta Beauty in the first quarter worth $31,000. Finally, Innealta Capital LLC purchased a new position in shares of Ulta Beauty during the second quarter valued at $32,000. 90.39% of the stock is currently 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.