Ulta Beauty (NASDAQ:ULTA) Given New $394.00 Price Target at Piper Sandler

Ulta Beauty (NASDAQ:ULTA) had its price objective raised by Piper Sandler from $390.00 to $394.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a neutral rating on the specialty retailer’s stock.

ULTA has been the topic of several other research reports. Loop Capital upped their target price on Ulta Beauty from $450.00 to $480.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft cut their price target on Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Wells Fargo & Company lifted their price objective on shares of Ulta Beauty from $300.00 to $350.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. DA Davidson raised their price target on shares of Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Barclays lifted their price target on shares of Ulta Beauty from $335.00 to $410.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $440.78.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA opened at $431.30 on Monday. The company’s 50 day moving average price is $398.53 and its 200-day moving average price is $383.10. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76. The company has a market capitalization of $20.00 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 2.38 and a beta of 1.28.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. Ulta Beauty’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $5.07 earnings per share. Analysts forecast that Ulta Beauty will post 23.57 earnings per share for the current year.

Institutional Trading of Ulta Beauty

Institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in Ulta Beauty by 14.0% in the 4th quarter. Nordea Investment Management AB now owns 32,031 shares of the specialty retailer’s stock valued at $14,015,000 after buying an additional 3,935 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Ulta Beauty by 170.4% in the fourth quarter. GAMMA Investing LLC now owns 1,141 shares of the specialty retailer’s stock valued at $496,000 after acquiring an additional 719 shares in the last quarter. Synovus Financial Corp increased its position in shares of Ulta Beauty by 5.2% during the third quarter. Synovus Financial Corp now owns 2,556 shares of the specialty retailer’s stock valued at $995,000 after acquiring an additional 126 shares during the last quarter. World Investment Advisors LLC bought a new stake in Ulta Beauty during the third quarter worth $212,000. Finally, Pine Valley Investments Ltd Liability Co boosted its position in Ulta Beauty by 12.4% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,589 shares of the specialty retailer’s stock worth $3,731,000 after purchasing an additional 1,057 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

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.