Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Ulta Beauty (NASDAQ:ULTA) had its price target boosted by Canaccord Genuity Group from $500.00 to $538.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 29.59% from the company’s current price.

Other analysts have also issued reports about the stock. Oppenheimer boosted their target price on shares of Ulta Beauty from $505.00 to $515.00 and gave the company an “outperform” rating in a research note on Tuesday. BMO Capital Markets lifted their target price on shares of Ulta Beauty from $385.00 to $420.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Wells Fargo & Company lifted their target price on shares of Ulta Beauty from $350.00 to $370.00 and gave the stock an “underweight” rating in a research note on Tuesday. Citigroup lifted their price objective on shares of Ulta Beauty from $390.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, TD Cowen dropped their target price on shares of Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Ulta Beauty presently has a consensus rating of “Hold” and a consensus target price of $458.78.

Ulta Beauty Stock Down 3.1 %

ULTA opened at $415.14 on Tuesday. Ulta Beauty has a 52 week low of $318.17 and a 52 week high of $574.76. The business has a 50 day moving average of $400.28 and a 200-day moving average of $383.64. The stock has a market cap of $19.25 billion, a PE ratio of 16.61, a PEG ratio of 2.38 and a beta of 1.28.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Choreo LLC boosted its holdings in shares of Ulta Beauty by 71.7% in the 2nd quarter. Choreo LLC now owns 2,868 shares of the specialty retailer’s stock valued at $1,103,000 after purchasing an additional 1,198 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Ulta Beauty in the 2nd quarter valued at approximately $19,136,000. Jensen Investment Management Inc. boosted its stake in Ulta Beauty by 17.9% in the third quarter. Jensen Investment Management Inc. now owns 11,330 shares of the specialty retailer’s stock valued at $4,409,000 after acquiring an additional 1,720 shares during the period. Distillate Capital Partners LLC bought a new stake in shares of Ulta Beauty during the second quarter valued at approximately $14,665,000. Finally, Versor Investments LP bought a new stake in Ulta Beauty during the third quarter worth approximately $793,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.