Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $310.00 at Oppenheimer

Ulta Beauty (NASDAQ:ULTA) had its price objective upped by equities researchers at Oppenheimer from $275.00 to $310.00 in a report released on Tuesday, The Fly reports. The firm presently has an “outperform” rating on the specialty retailer’s stock. Oppenheimer’s price target points to a potential upside of 11.34% from the company’s previous close. Oppenheimer also issued estimates for Ulta Beauty’s Q1 2021 earnings at $3.38 EPS, Q2 2021 earnings at $3.01 EPS, Q3 2021 earnings at $2.56 EPS, Q4 2021 earnings at $4.16 EPS and FY2022 earnings at $14.50 EPS.

Other equities research analysts also recently issued reports about the stock. Piper Jaffray Companies cut their price target on shares of Ulta Beauty from $250.00 to $228.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. JPMorgan Chase & Co. upped their price objective on shares of Ulta Beauty from $317.00 to $326.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Wells Fargo & Co upped their price objective on shares of Ulta Beauty from $235.00 to $250.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Barclays upped their price objective on shares of Ulta Beauty from $220.00 to $238.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, Nomura upped their price objective on shares of Ulta Beauty from $215.00 to $230.00 and gave the company a “reduce” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $288.09.

NASDAQ ULTA traded up $2.22 on Tuesday, reaching $278.42. The company’s stock had a trading volume of 208,557 shares, compared to its average volume of 1,028,318. Ulta Beauty has a twelve month low of $222.00 and a twelve month high of $368.83. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.38 and a current ratio of 1.67. The stock has a market cap of $16.15 billion, a PE ratio of 25.66, a PEG ratio of 1.50 and a beta of 1.13. The firm’s 50 day moving average is $252.60 and its two-hundred day moving average is $275.16.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $2.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.12. Ulta Beauty had a net margin of 9.67% and a return on equity of 36.91%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the company earned $2.18 EPS. Ulta Beauty’s revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Ulta Beauty will post 11.79 EPS for the current fiscal year.

In other Ulta Beauty news, insider Jeffrey J. Childs sold 3,031 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $252.20, for a total transaction of $764,418.20. Following the transaction, the insider now owns 10,333 shares in the company, valued at $2,605,982.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Sterling Investment Advisors Ltd. acquired a new stake in Ulta Beauty in the third quarter worth about $25,000. Commonwealth Bank of Australia increased its stake in Ulta Beauty by 79.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 86 shares of the specialty retailer’s stock worth $28,000 after buying an additional 38 shares in the last quarter. San Francisco Sentry Investment Group CA increased its stake in Ulta Beauty by 3,900.0% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 120 shares of the specialty retailer’s stock worth $30,000 after buying an additional 117 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in Ulta Beauty in the 3rd quarter worth $41,000. Finally, Kistler Tiffany Companies LLC purchased a new stake in Ulta Beauty in the 4th quarter worth $41,000. Institutional investors own 89.72% of the company’s stock.

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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