Ulta Beauty (NASDAQ:ULTA) Given New $370.00 Price Target at Wells Fargo & Company

Ulta Beauty (NASDAQ:ULTA) had its price target increased by Wells Fargo & Company from $350.00 to $370.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the specialty retailer’s stock.

ULTA has been the subject of several other reports. Barclays increased their price objective on Ulta Beauty from $335.00 to $410.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. William Blair cut Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. Stifel Nicolaus boosted their price target on shares of Ulta Beauty from $395.00 to $455.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Canaccord Genuity Group lifted their price target on Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, DA Davidson raised their price objective on shares of Ulta Beauty from $435.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $454.43.

Ulta Beauty Stock Performance

ULTA stock opened at $428.27 on Tuesday. Ulta Beauty has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The firm has a market capitalization of $19.86 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.38 and a beta of 1.28. The company’s 50 day moving average price is $399.50 and its 200 day moving average price is $383.42.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, beating the consensus estimate of $4.45 by $0.69. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.07 earnings per share. Equities analysts forecast that Ulta Beauty will post 23.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

A number of large investors have recently bought and sold shares of the stock. Paladin Wealth LLC acquired a new stake in shares of Ulta Beauty during the 3rd quarter worth $32,000. Sunbelt Securities Inc. grew its stake in shares of Ulta Beauty by 118.4% in the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 45 shares in the last quarter. Westside Investment Management Inc. lifted its position in Ulta Beauty by 151.5% during the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 50 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Ulta Beauty in the 3rd quarter worth approximately $41,000. Finally, American National Bank & Trust purchased a new stake in shares of Ulta Beauty during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

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.