Morgan Stanley Boosts Ulta Beauty (NASDAQ:ULTA) Price Target to $395.00

Ulta Beauty (NASDAQ:ULTA) had its price target boosted by Morgan Stanley from $375.00 to $395.00 in a research report released on Thursday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the specialty retailer’s stock.

Other equities research analysts have also issued reports about the stock. Oppenheimer set a $23.00 price objective on shares of Par Pacific and gave the stock a buy rating in a report on Friday, May 31st. Zacks Investment Research lowered shares of GreenTree Hospitality Group from a buy rating to a hold rating in a report on Monday, May 20th. BidaskClub lowered shares of Zebra Technologies from a hold rating to a sell rating in a report on Friday, May 24th. Guggenheim restated a buy rating and issued a $375.00 price objective (up from $350.00) on shares of Ulta Beauty in a report on Tuesday, May 14th. Finally, Piper Jaffray Companies set a $360.00 price objective on shares of Ulta Beauty and gave the stock a buy rating in a report on Friday, May 31st. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Ulta Beauty has an average rating of Buy and an average target price of $351.17.

ULTA stock opened at $357.00 on Thursday. The company has a 50 day moving average price of $347.32. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.93 and a quick ratio of 0.74. Ulta Beauty has a 12 month low of $224.43 and a 12 month high of $368.83. The company has a market capitalization of $21.41 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 1.56 and a beta of 0.96.



Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, May 30th. The specialty retailer reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.02. Ulta Beauty had a net margin of 9.92% and a return on equity of 36.48%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the business posted $2.70 earnings per share. Ulta Beauty’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts anticipate that Ulta Beauty will post 12.8 EPS for the current fiscal year.

In related news, Director Lorna Nagler sold 2,000 shares of Ulta Beauty stock in a transaction on Friday, June 14th. The shares were sold at an average price of $354.03, for a total value of $708,060.00. Following the transaction, the director now directly owns 8,368 shares of the company’s stock, valued at $2,962,523.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Catherine Ann Halligan sold 400 shares of Ulta Beauty stock in a transaction on Friday, June 7th. The stock was sold at an average price of $343.02, for a total transaction of $137,208.00. Following the completion of the transaction, the director now directly owns 2,811 shares in the company, valued at $964,229.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,715 shares of company stock worth $958,441. 4.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Ulta Beauty by 1.2% in the first quarter. BlackRock Inc. now owns 3,958,105 shares of the specialty retailer’s stock worth $1,380,310,000 after buying an additional 47,025 shares during the period. FMR LLC increased its stake in shares of Ulta Beauty by 15.3% in the first quarter. FMR LLC now owns 2,262,297 shares of the specialty retailer’s stock worth $788,932,000 after buying an additional 300,904 shares during the period. Wells Fargo & Company MN increased its position in Ulta Beauty by 9.8% during the 1st quarter. Wells Fargo & Company MN now owns 848,068 shares of the specialty retailer’s stock valued at $295,747,000 after purchasing an additional 75,459 shares during the period. Geode Capital Management LLC increased its position in Ulta Beauty by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 838,542 shares of the specialty retailer’s stock valued at $204,993,000 after purchasing an additional 62,309 shares during the period. Finally, Northern Trust Corp increased its position in Ulta Beauty by 1.3% during the 1st quarter. Northern Trust Corp now owns 670,501 shares of the specialty retailer’s stock valued at $233,823,000 after purchasing an additional 8,464 shares during the period. 88.61% of the stock is currently owned by institutional investors.

About Ulta Beauty

Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.

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Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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