Citigroup Forecasts Strong Price Appreciation for Ulta Beauty (NASDAQ:ULTA) Stock

Ulta Beauty (NASDAQ:ULTA) had its target price raised by Citigroup from $345.00 to $390.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Citigroup’s target price indicates a potential upside of 0.87% from the stock’s previous close.

A number of other equities analysts also recently commented on ULTA. Piper Sandler raised their price objective on shares of Ulta Beauty from $356.00 to $357.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird decreased their price objective on Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating on the stock in a report on Friday, August 23rd. Barclays increased their target price on Ulta Beauty from $328.00 to $335.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Oppenheimer restated an “outperform” rating and set a $435.00 target price on shares of Ulta Beauty in a research report on Wednesday, October 16th. Finally, Evercore ISI lowered their price target on Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Ulta Beauty presently has a consensus rating of “Hold” and a consensus price target of $422.58.

Ulta Beauty Trading Up 3.0 %

Shares of NASDAQ:ULTA opened at $386.64 on Friday. The firm has a market capitalization of $18.22 billion, a PE ratio of 15.52, a PEG ratio of 2.16 and a beta of 1.33. Ulta Beauty has a 1-year low of $318.17 and a 1-year high of $574.76. The business’s 50 day moving average is $374.12 and its 200-day moving average is $376.37.

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 business 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 in the prior year, the firm earned $6.02 EPS. On average, sell-side analysts predict that Ulta Beauty will post 23.07 EPS for the current year.

Institutional Investors Weigh In On Ulta Beauty

Institutional investors and hedge funds have recently made changes to their positions in the company. UMB Bank n.a. increased its position in Ulta Beauty by 83.3% in the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 30 shares during the period. LRI Investments LLC bought a new position in shares of Ulta Beauty in the 1st quarter valued at about $31,000. Innealta Capital LLC bought a new position in shares of Ulta Beauty in the 2nd quarter valued at about $32,000. Paladin Wealth LLC acquired a new stake in shares of Ulta Beauty during the 3rd quarter worth approximately $32,000. Finally, Westside Investment Management Inc. raised its stake in shares of Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after buying an additional 50 shares during the last quarter. 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.