Analysts Set Ulta Beauty, Inc. (NASDAQ:ULTA) Price Target at $427.13

Shares of Ulta Beauty, Inc. (NASDAQ:ULTA) have earned a consensus rating of “Hold” from the twenty-four analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $427.13.

A number of equities analysts have commented on the company. Wells Fargo & Company decreased their target price on Ulta Beauty from $360.00 to $310.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. StockNews.com upgraded Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. UBS Group boosted their price target on Ulta Beauty from $470.00 to $490.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. BMO Capital Markets lowered their price target on Ulta Beauty from $467.00 to $404.00 and set a “market perform” rating on the stock in a report on Friday, March 14th. Finally, Bank of America cut their price objective on shares of Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th.

Ulta Beauty Price Performance

NASDAQ:ULTA opened at $370.34 on Friday. The firm has a 50-day moving average of $374.58 and a two-hundred day moving average of $386.37. The stock has a market cap of $17.17 billion, a P/E ratio of 14.82, a PEG ratio of 0.89 and a beta of 1.34. Ulta Beauty has a 1-year low of $309.01 and a 1-year high of $529.67.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, beating analysts’ consensus estimates of $7.13 by $1.33. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.47 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. Ulta Beauty’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.08 earnings per share. As a group, equities analysts expect that Ulta Beauty will post 23.96 earnings per share for the current year.

Institutional Investors Weigh In On Ulta Beauty

Hedge funds have recently made changes to their positions in the company. Prestige Wealth Management Group LLC raised its stake in Ulta Beauty by 121.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 34 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Ulta Beauty by 118.4% during the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 45 shares in the last quarter. Westside Investment Management Inc. raised its position in Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 50 shares during the period. Edge Capital Group LLC acquired a new stake in Ulta Beauty during the 4th quarter worth about $33,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Ulta Beauty during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

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.