Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $445.00

Ulta Beauty (NASDAQ:ULTA) had its target price boosted by equities researchers at Barclays from $410.00 to $445.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s target price indicates a potential upside of 6.40% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. B. Riley upgraded shares of Ulta Beauty from a “sell” rating to a “neutral” rating and upped their target price for the company from $330.00 to $430.00 in a report on Tuesday. UBS Group upped their price objective on shares of Ulta Beauty from $470.00 to $490.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Piper Sandler raised their target price on shares of Ulta Beauty from $390.00 to $394.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Bank of America boosted their price target on Ulta Beauty from $460.00 to $475.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Canaccord Genuity Group raised their price objective on Ulta Beauty from $500.00 to $538.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Ulta Beauty currently has a consensus rating of “Hold” and a consensus price target of $460.30.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $418.23 on Thursday. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76. The business has a 50 day moving average price of $402.01 and a 200 day moving average price of $384.05. The company has a market capitalization of $19.39 billion, a P/E ratio of 16.74, a P/E/G ratio of 2.38 and a beta of 1.28.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly 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. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the firm posted $5.07 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, research analysts expect that Ulta Beauty will post 23.57 EPS for the current fiscal year.

Institutional Trading of Ulta Beauty

Institutional investors have recently added to or reduced their stakes in the business. Paladin Wealth LLC purchased a new position in Ulta Beauty in the third quarter valued at about $32,000. Sunbelt Securities Inc. raised its holdings in shares of Ulta Beauty by 118.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 45 shares during the period. Westside Investment Management Inc. lifted its position in Ulta Beauty by 151.5% during the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 50 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Ulta Beauty in the 3rd quarter worth approximately $41,000. Finally, American National Bank & Trust acquired a new stake in Ulta Beauty in the third quarter valued at approximately $44,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.