Ulta Beauty (NASDAQ:ULTA) Price Target Lowered to $365.00 at Citigroup

Ulta Beauty (NASDAQ:ULTA) had its target price lowered by equities research analysts at Citigroup from $405.00 to $365.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. Citigroup’s target price suggests a potential upside of 6.16% from the stock’s previous close.

ULTA has been the topic of a number of other research reports. William Blair lowered Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. Canaccord Genuity Group reduced their target price on Ulta Beauty from $538.00 to $526.00 and set a “buy” rating on the stock in a report on Friday, March 14th. DA Davidson reduced their target price on Ulta Beauty from $510.00 to $415.00 and set a “buy” rating on the stock in a report on Friday, March 14th. UBS Group raised their target price on Ulta Beauty from $470.00 to $490.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Piper Sandler reduced their target price on Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $427.13.

Ulta Beauty Price Performance

Ulta Beauty stock opened at $343.83 on Monday. The stock’s fifty day moving average price is $381.84 and its two-hundred day moving average price is $386.80. Ulta Beauty has a one year low of $309.01 and a one year high of $535.08. The firm has a market cap of $15.94 billion, a PE ratio of 13.76, 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 EPS 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 firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the company earned $8.08 EPS. The company’s revenue was down 1.9% on a year-over-year basis. Sell-side analysts expect that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its holdings in Ulta Beauty by 28.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 166 shares of the specialty retailer’s stock worth $72,000 after buying an additional 37 shares during the period. Integrated Investment Consultants LLC acquired a new position in Ulta Beauty during the 3rd quarter worth about $4,480,000. Thrivent Financial for Lutherans lifted its holdings in Ulta Beauty by 382.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 10,698 shares of the specialty retailer’s stock worth $4,163,000 after buying an additional 8,481 shares during the period. Advisors Asset Management Inc. lifted its holdings in Ulta Beauty by 11.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 17,531 shares of the specialty retailer’s stock worth $6,822,000 after buying an additional 1,768 shares during the period. Finally, Blueshift Asset Management LLC lifted its holdings in Ulta Beauty by 1,052.6% during the 3rd quarter. Blueshift Asset Management LLC now owns 8,218 shares of the specialty retailer’s stock worth $3,198,000 after buying an additional 7,505 shares during the period. 90.39% of the stock is 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.