Telsey Advisory Group Reiterates Outperform Rating for Ulta Beauty (NASDAQ:ULTA)

Telsey Advisory Group reiterated their outperform rating on shares of Ulta Beauty (NASDAQ:ULTA) in a report published on Wednesday morning,Benzinga reports. They currently have a $450.00 target price on the specialty retailer’s stock.

ULTA has been the topic of several other research reports. Piper Sandler boosted their price target on Ulta Beauty from $356.00 to $357.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Stifel Nicolaus boosted their target price on Ulta Beauty from $385.00 to $395.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. StockNews.com upgraded Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. TD Cowen decreased their price objective on shares of Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $422.58.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $386.64 on Wednesday. The company has a market cap of $18.22 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 2.16 and a beta of 1.33. Ulta Beauty has a one year low of $318.17 and a one year high of $574.76. The business has a fifty day moving average of $374.12 and a two-hundred day moving average of $376.37.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.17). Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business earned $6.02 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts predict that Ulta Beauty will post 23.07 EPS for the current year.

Institutional Investors Weigh In On Ulta Beauty

Several hedge funds have recently modified their holdings of the stock. UMB Bank n.a. raised its stake in shares of Ulta Beauty by 83.3% during the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares during the period. LRI Investments LLC purchased a new position in Ulta Beauty in the 1st quarter valued at about $31,000. Innealta Capital LLC acquired a new stake in shares of Ulta Beauty during the second quarter valued at about $32,000. Paladin Wealth LLC acquired a new stake in shares of Ulta Beauty during the third quarter valued at about $32,000. Finally, Westside Investment Management Inc. increased its position in shares of Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 50 shares during the last quarter. 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.