Ulta Beauty (NASDAQ:ULTA) Given New $450.00 Price Target at Citigroup

Ulta Beauty (NASDAQ:ULTA) had its price target boosted by Citigroup from $390.00 to $450.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird dropped their price target on shares of Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating on the stock in a research report on Friday, August 23rd. Canaccord Genuity Group raised their price target on shares of Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group dropped their target price on shares of Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Raymond James dropped their target price on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company lifted their target price on shares of Ulta Beauty from $300.00 to $350.00 and gave the stock an “underweight” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $438.00.

Ulta Beauty Price Performance

ULTA stock opened at $428.17 on Friday. The stock has a market capitalization of $20.18 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 2.30 and a beta of 1.32. The company’s 50-day moving average is $373.67 and its 200-day moving average is $376.39. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.45 by $0.69. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the firm earned $5.07 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts anticipate that Ulta Beauty will post 23.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in Ulta Beauty by 4.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 627 shares of the specialty retailer’s stock valued at $244,000 after buying an additional 28 shares in the last quarter. UMB Bank n.a. grew its position in shares of Ulta Beauty by 83.3% during the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Ulta Beauty by 5.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 695 shares of the specialty retailer’s stock valued at $268,000 after purchasing an additional 33 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its position in shares of Ulta Beauty by 1.0% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 3,495 shares of the specialty retailer’s stock valued at $1,349,000 after purchasing an additional 33 shares in the last quarter. Finally, Mayflower Financial Advisors LLC grew its position in shares of Ulta Beauty by 6.8% during the 2nd quarter. Mayflower Financial Advisors LLC now owns 521 shares of the specialty retailer’s stock valued at $201,000 after purchasing an additional 33 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

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.