Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $370.00 at Wells Fargo & Company

Ulta Beauty (NASDAQ:ULTA) had its price target raised by Wells Fargo & Company from $350.00 to $370.00 in a research report sent to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the specialty retailer’s stock.

ULTA has been the subject of a number of other reports. DA Davidson raised their target price on Ulta Beauty from $435.00 to $510.00 and gave the company a “buy” rating in a report on Friday, December 6th. Stifel Nicolaus increased their price target on Ulta Beauty from $395.00 to $455.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Canaccord Genuity Group increased their price target on Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. William Blair lowered Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Finally, B. Riley raised Ulta Beauty from a “sell” rating to a “neutral” rating and increased their price target for the company from $330.00 to $430.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $460.30.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $415.14 on Tuesday. The business has a 50-day moving average of $401.20 and a 200 day moving average of $383.86. Ulta Beauty has a 12 month low of $318.17 and a 12 month high of $574.76. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 2.38 and a beta of 1.28.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.69. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the business posted $5.07 EPS. Ulta Beauty’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts anticipate that Ulta Beauty will post 23.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ULTA. Paladin Wealth LLC purchased a new position in shares of Ulta Beauty in the 3rd quarter valued at approximately $32,000. Sunbelt Securities Inc. grew its stake in shares of Ulta Beauty by 118.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 45 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 50 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Ulta Beauty in the 3rd quarter valued at approximately $41,000. Finally, American National Bank & Trust purchased a new position in shares of Ulta Beauty in the 3rd quarter valued at approximately $44,000. 90.39% of the stock is currently 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.