Ulta Beauty (NASDAQ:ULTA) Receives Outperform Rating from Oppenheimer

Oppenheimer restated their outperform rating on shares of Ulta Beauty (NASDAQ:ULTA) in a research note published on Wednesday morning, Benzinga reports. They currently have a $435.00 price target on the specialty retailer’s stock.

Other analysts have also issued reports about the company. The Goldman Sachs Group lowered their price objective on Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Wells Fargo & Company dropped their price target on shares of Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, August 30th. UBS Group reduced their price objective on shares of Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. BMO Capital Markets dropped their target price on shares of Ulta Beauty from $500.00 to $385.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Finally, Piper Sandler restated a “neutral” rating and issued a $356.00 price target (down from $404.00) on shares of Ulta Beauty in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $423.71.

Ulta Beauty Stock Performance

Shares of NASDAQ:ULTA opened at $368.92 on Wednesday. The business has a fifty day moving average of $373.91 and a 200-day moving average of $386.40. The firm has a market cap of $17.60 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. Ulta Beauty has a twelve month low of $318.17 and a twelve month high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $6.02 earnings per share. On average, analysts anticipate that Ulta Beauty will post 23.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

Several institutional investors have recently modified their holdings of ULTA. Wellington Management Group LLP grew its position in shares of Ulta Beauty by 3.4% during the 4th quarter. Wellington Management Group LLP now owns 10,130 shares of the specialty retailer’s stock valued at $4,964,000 after purchasing an additional 334 shares in the last quarter. Nomura Holdings Inc. bought a new position in Ulta Beauty in the fourth quarter worth $2,432,000. GAMMA Investing LLC boosted its stake in Ulta Beauty by 30.1% in the 1st quarter. GAMMA Investing LLC now owns 242 shares of the specialty retailer’s stock worth $127,000 after purchasing an additional 56 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Ulta Beauty in the 1st quarter worth $45,000. Finally, Wedmont Private Capital lifted its stake in Ulta Beauty by 2.9% during the 1st quarter. Wedmont Private Capital now owns 993 shares of the specialty retailer’s stock valued at $519,000 after acquiring an additional 28 shares during the period. 90.39% of the stock is owned by 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.