Wells Fargo & Company Issues Pessimistic Forecast for Ulta Beauty (NASDAQ:ULTA) Stock Price

Ulta Beauty (NASDAQ:ULTA) had its target price dropped by analysts at Wells Fargo & Company from $360.00 to $310.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 13.28% from the company’s previous close.

Other analysts have also recently issued reports about the company. BMO Capital Markets raised their price target on Ulta Beauty from $385.00 to $420.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Telsey Advisory Group restated an “outperform” rating and set a $500.00 price objective on shares of Ulta Beauty in a report on Monday, March 10th. Stifel Nicolaus reduced their target price on Ulta Beauty from $475.00 to $400.00 and set a “hold” rating on the stock in a report on Friday. TD Cowen lifted their target price on Ulta Beauty from $450.00 to $480.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Ulta Beauty from $472.00 to $480.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $431.13.

Ulta Beauty Stock Up 13.7 %

Shares of NASDAQ ULTA opened at $357.48 on Friday. Ulta Beauty has a 52-week low of $309.01 and a 52-week high of $544.36. The business has a 50-day moving average price of $385.01 and a 200 day moving average price of $386.80. The stock has a market cap of $16.58 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share for the quarter, topping analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the firm earned $8.08 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. Sell-side analysts anticipate that Ulta Beauty will post 23.96 earnings per share for the current year.

Hedge Funds Weigh In On Ulta Beauty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prestige Wealth Management Group LLC lifted its position in Ulta Beauty by 121.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 34 shares during the period. Sunbelt Securities Inc. lifted its position in Ulta Beauty by 118.4% in the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 45 shares during the period. Westside Investment Management Inc. lifted its position in Ulta Beauty by 151.5% in the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 50 shares during the period. Edge Capital Group LLC bought a new position in shares of Ulta Beauty in the fourth quarter valued at $33,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Ulta Beauty in the third quarter valued at $41,000. 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.