Ulta Beauty, Inc. (NASDAQ:ULTA) Receives $425.29 Consensus Price Target from Brokerages

Ulta Beauty, Inc. (NASDAQ:ULTA) has received an average rating of “Hold” from the twenty-four ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $425.29.

Several research firms recently weighed in on ULTA. Citigroup cut their price objective on Ulta Beauty from $375.00 to $345.00 and set a “neutral” rating for the company in a research report on Friday, August 30th. Loop Capital reduced their price objective on Ulta Beauty from $520.00 to $450.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Raymond James downgraded shares of Ulta Beauty from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $500.00 to $450.00 in a research note on Friday, August 30th. Barclays upped their target price on shares of Ulta Beauty from $328.00 to $335.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Finally, Piper Sandler restated a “neutral” rating and issued a $356.00 price target (down from $404.00) on shares of Ulta Beauty in a research report on Friday, August 30th.

Hedge Funds Weigh In On Ulta Beauty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Ulta Beauty by 83.3% in the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 30 shares during the last quarter. Vima LLC bought a new position in Ulta Beauty in the 4th quarter valued at $27,000. Riverview Trust Co acquired a new position in Ulta Beauty in the first quarter worth $30,000. Sound Income Strategies LLC boosted its stake in Ulta Beauty by 490.0% in the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 49 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Ulta Beauty during the first quarter worth $31,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Down 2.6 %

Shares of ULTA stock opened at $379.13 on Friday. The business’s 50 day moving average is $368.15 and its two-hundred day moving average is $399.34. Ulta Beauty has a 12 month low of $318.17 and a 12 month high of $574.76. The company has a market cap of $17.86 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.17). The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. During the same quarter last year, the business earned $6.02 EPS. The business’s revenue was up .9% compared to the same quarter last year. As a group, equities analysts expect that Ulta Beauty will post 23.21 EPS for the current fiscal year.

About Ulta Beauty

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.