Ulta Beauty (NASDAQ:ULTA) Price Target Cut to $380.00

Ulta Beauty (NASDAQ:ULTA) had its price objective lowered by investment analysts at TD Cowen from $390.00 to $380.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the specialty retailer’s stock. TD Cowen’s price objective would suggest a potential upside of 3.00% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Evercore ISI reduced their price target on Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, August 26th. B. Riley began coverage on Ulta Beauty in a research note on Tuesday, September 10th. They set a “sell” rating and a $300.00 target price for the company. Barclays lifted their price target on shares of Ulta Beauty from $328.00 to $335.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Raymond James reduced their price objective on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $435.00 target price on shares of Ulta Beauty in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $423.71.

Ulta Beauty Price Performance

Shares of NASDAQ ULTA opened at $368.92 on Thursday. The stock has a market capitalization of $17.38 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.12 and a beta of 1.32. The firm’s 50 day simple moving average is $373.91 and its 200-day simple moving average is $387.32. Ulta Beauty has a 12 month low of $318.17 and a 12 month high of $574.76.

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

Hedge Funds Weigh In On Ulta Beauty

Institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in shares of Ulta Beauty by 83.3% during the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock worth $25,000 after buying an additional 30 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Ulta Beauty in the 1st quarter valued at $30,000. Sound Income Strategies LLC lifted its stake in Ulta Beauty by 490.0% during the 1st quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 49 shares in the last quarter. LRI Investments LLC purchased a new position in Ulta Beauty during the 1st quarter valued at about $31,000. Finally, Innealta Capital LLC acquired a new position in Ulta Beauty in the 2nd quarter valued at about $32,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

About Ulta Beauty

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.