Ulta Beauty (NASDAQ:ULTA) Price Target Lowered to $404.00 at BMO Capital Markets

Ulta Beauty (NASDAQ:ULTA) had its price target lowered by BMO Capital Markets from $467.00 to $404.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the specialty retailer’s stock. BMO Capital Markets’ price target suggests a potential upside of 13.01% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Wells Fargo & Company cut their target price on Ulta Beauty from $360.00 to $310.00 and set an “underweight” rating for the company in a research note on Friday. Piper Sandler reduced their target price on Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a report on Friday. Canaccord Genuity Group lowered their price target on shares of Ulta Beauty from $538.00 to $526.00 and set a “buy” rating on the stock in a research note on Friday. Oppenheimer raised their price objective on shares of Ulta Beauty from $505.00 to $515.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley decreased their price objective on shares of Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $431.13.

Ulta Beauty Price Performance

Shares of NASDAQ ULTA opened at $357.48 on Friday. The company has a market cap of $16.58 billion, a PE ratio of 14.30, a P/E/G ratio of 0.89 and a beta of 1.34. The stock has a fifty day moving average price of $385.01 and a 200 day moving average price of $386.80. Ulta Beauty has a 1-year low of $309.01 and a 1-year high of $544.36.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share for the quarter, beating the consensus estimate of $7.13 by $1.33. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.47 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.08 earnings per share. Analysts anticipate that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Institutional Trading of Ulta Beauty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Impax Asset Management Group plc grew its position in shares of Ulta Beauty by 11.8% in the third quarter. Impax Asset Management Group plc now owns 93,419 shares of the specialty retailer’s stock valued at $36,351,000 after purchasing an additional 9,863 shares during the period. Sigma Planning Corp boosted its stake in Ulta Beauty by 49.2% in the 3rd quarter. Sigma Planning Corp now owns 1,159 shares of the specialty retailer’s stock worth $451,000 after buying an additional 382 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Ulta Beauty by 44.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,399 shares of the specialty retailer’s stock valued at $544,000 after buying an additional 432 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Ulta Beauty by 1.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,909 shares of the specialty retailer’s stock valued at $43,546,000 after acquiring an additional 1,687 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Ulta Beauty by 24.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 9,907 shares of the specialty retailer’s stock worth $3,855,000 after acquiring an additional 1,977 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.