Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $525.00

Ulta Beauty (NASDAQ:ULTA) had its target price raised by Robert W. Baird from $440.00 to $525.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the specialty retailer’s stock.

A number of other equities research analysts have also weighed in on the stock. Bank of America dropped their price objective on shares of Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. B. Riley lowered their price target on shares of Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $465.00 price target (up from $435.00) on shares of Ulta Beauty in a report on Tuesday, May 20th. Barclays lowered their price target on shares of Ulta Beauty from $445.00 to $327.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Finally, Wells Fargo & Company upped their price objective on shares of Ulta Beauty from $315.00 to $350.00 and gave the stock an “underweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $454.04.

Ulta Beauty Price Performance

Shares of ULTA opened at $469.71 on Friday. The firm has a market capitalization of $21.21 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. Ulta Beauty has a 1-year low of $309.01 and a 1-year high of $491.98. The company’s fifty day moving average price is $384.70 and its 200-day moving average price is $388.06.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, beating analysts’ consensus estimates of $5.73 by $0.97. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.79 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $6.47 earnings per share. As a group, research analysts anticipate that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jodi J. Caro sold 902 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the completion of the transaction, the insider now owns 7,632 shares of the company’s stock, valued at approximately $2,817,429.12. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ulta Beauty

Hedge funds have recently added to or reduced their stakes in the business. Prestige Wealth Management Group LLC lifted its holdings 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 worth $27,000 after buying an additional 34 shares in the last quarter. American National Bank & Trust acquired a new stake in Ulta Beauty during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in Ulta Beauty during the 1st quarter worth approximately $31,000. Rakuten Securities Inc. lifted its holdings in Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock worth $32,000 after buying an additional 59 shares in the last quarter. Finally, Edge Capital Group LLC acquired a new stake in Ulta Beauty during the 4th quarter worth approximately $33,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.