TD Cowen Lowers Ulta Beauty (NASDAQ:ULTA) Price Target to $395.00

Ulta Beauty (NASDAQ:ULTA) had its price target dropped by research analysts at TD Cowen from $500.00 to $395.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. TD Cowen’s target price would suggest a potential upside of 11.95% from the company’s current price.

A number of other brokerages have also weighed in on ULTA. Piper Sandler lowered Ulta Beauty from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $494.00 to $404.00 in a research note on Wednesday, July 24th. Jefferies Financial Group reduced their target price on Ulta Beauty from $438.00 to $412.00 and set a “hold” rating on the stock in a research report on Friday, May 24th. Canaccord Genuity Group decreased their price target on Ulta Beauty from $522.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. StockNews.com raised shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Ulta Beauty from $530.00 to $544.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $436.83.

Ulta Beauty Stock Down 4.0 %

Shares of NASDAQ:ULTA opened at $352.84 on Friday. The stock’s fifty day simple moving average is $372.21 and its 200-day simple moving average is $426.11. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76. The company has a market capitalization of $16.84 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.75 and a beta of 1.37.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $6.02 earnings per share. On average, sell-side analysts anticipate that Ulta Beauty will post 25.48 earnings per share for the current year.

Insider Transactions at Ulta Beauty

In other news, Director Catherine Ann Halligan sold 100 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the completion of the transaction, the director now directly owns 2,017 shares in the company, valued at $786,791.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ulta Beauty news, Director Catherine Ann Halligan sold 100 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the transaction, the director now owns 2,017 shares in the company, valued at approximately $786,791.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jodi J. Caro sold 650 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total transaction of $252,642.00. Following the completion of the transaction, the insider now directly owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Institutional Trading of Ulta Beauty

Institutional investors have recently added to or reduced their stakes in the stock. Brown Financial Advisors bought a new position in shares of Ulta Beauty during the second quarter worth about $268,000. Strategic Investment Solutions Inc. IL bought a new position in Ulta Beauty during the 2nd quarter worth approximately $124,000. Dana Investment Advisors Inc. grew its position in shares of Ulta Beauty by 9.9% in the 2nd quarter. Dana Investment Advisors Inc. now owns 757 shares of the specialty retailer’s stock worth $292,000 after acquiring an additional 68 shares in the last quarter. Aristides Capital LLC bought a new stake in shares of Ulta Beauty in the 2nd quarter valued at approximately $386,000. Finally, Granite Bay Wealth Management LLC acquired a new stake in shares of Ulta Beauty during the 2nd quarter valued at approximately $538,000. 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.