Ulta Beauty (NASDAQ:ULTA) Earns “Outperform” Rating from Oppenheimer

Oppenheimer reissued their outperform rating on shares of Ulta Beauty (NASDAQ:ULTA) in a research note issued to investors on Wednesday, Benzinga reports. Oppenheimer currently has a $435.00 target price on the specialty retailer’s stock.

Several other analysts have also weighed in on ULTA. Robert W. Baird cut their price objective on Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating for the company in a report on Friday, August 23rd. Stifel Nicolaus cut their price target on shares of Ulta Beauty from $475.00 to $385.00 and set a “hold” rating for the company in a report on Friday, August 30th. Raymond James reduced their target price on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Canaccord Genuity Group cut their price objective on Ulta Beauty from $522.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Loop Capital decreased their target price on Ulta Beauty from $520.00 to $450.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ulta Beauty currently has a consensus rating of “Hold” and an average target price of $423.71.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $368.92 on Wednesday. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76. The business has a fifty day moving average of $373.91 and a 200-day moving average of $387.32. The stock has a market cap of $17.38 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.12 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the company earned $6.02 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts predict that Ulta Beauty will post 23.1 EPS for the current year.

Hedge Funds Weigh In On Ulta Beauty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janiczek Wealth Management LLC lifted its position in Ulta Beauty by 32.5% in the first quarter. Janiczek Wealth Management LLC now owns 102 shares of the specialty retailer’s stock worth $53,000 after purchasing an additional 25 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of Ulta Beauty by 5.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 478 shares of the specialty retailer’s stock worth $250,000 after acquiring an additional 26 shares during the period. Sage Capital Advisors llc boosted its position in shares of Ulta Beauty by 5.4% during the 2nd quarter. Sage Capital Advisors llc now owns 525 shares of the specialty retailer’s stock valued at $203,000 after acquiring an additional 27 shares in the last quarter. Greenleaf Trust increased its stake in Ulta Beauty by 2.8% in the first quarter. Greenleaf Trust now owns 1,040 shares of the specialty retailer’s stock valued at $544,000 after acquiring an additional 28 shares during the period. Finally, Wedmont Private Capital lifted its stake in Ulta Beauty by 2.9% during the first quarter. Wedmont Private Capital now owns 993 shares of the specialty retailer’s stock worth $519,000 after purchasing an additional 28 shares during the period. 90.39% of the stock is currently owned by institutional investors.

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.