Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $515.00 at Oppenheimer

Ulta Beauty (NASDAQ:ULTA) had its price objective hoisted by equities researchers at Oppenheimer from $505.00 to $515.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the specialty retailer’s stock. Oppenheimer’s target price indicates a potential upside of 19.41% from the stock’s current price.

Several other research firms also recently weighed in on ULTA. Piper Sandler increased their price objective on Ulta Beauty from $390.00 to $394.00 and gave the company a “neutral” rating in a report on Monday. Citigroup lifted their price objective on shares of Ulta Beauty from $390.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. B. Riley raised their price target on Ulta Beauty from $300.00 to $330.00 and gave the stock a “sell” rating in a report on Friday, December 6th. William Blair cut Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Finally, Barclays boosted their target price on Ulta Beauty from $335.00 to $410.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $441.22.

Ulta Beauty Trading Down 0.0 %

Shares of Ulta Beauty stock opened at $431.30 on Tuesday. The company has a fifty day simple moving average of $398.53 and a 200-day simple moving average of $383.10. The stock has a market cap of $20.00 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.38 and a beta of 1.28. 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 data on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.45 by $0.69. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $5.07 earnings per share. Ulta Beauty’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts forecast that Ulta Beauty will post 23.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

Several hedge funds have recently bought and sold shares of the company. Paladin Wealth LLC purchased a new stake in Ulta Beauty during the third quarter worth $32,000. Sunbelt Securities Inc. boosted its position 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 worth $32,000 after buying an additional 45 shares in the last quarter. Westside Investment Management Inc. grew its stake in 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 acquiring an additional 50 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Ulta Beauty during the 3rd quarter valued at about $41,000. Finally, American National Bank & Trust acquired a new position in Ulta Beauty during the third quarter worth about $44,000. 90.39% of the stock is 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.