Ulta Beauty (NASDAQ:ULTA) Given New $404.00 Price Target at BMO Capital Markets

Ulta Beauty (NASDAQ:ULTA) had its price target decreased by BMO Capital Markets from $467.00 to $404.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the specialty retailer’s stock. BMO Capital Markets’ price target suggests a potential upside of 14.93% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. StockNews.com raised Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. William Blair cut Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. TD Cowen upped their target price on shares of Ulta Beauty from $450.00 to $480.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. DA Davidson reduced their target price on shares of Ulta Beauty from $510.00 to $415.00 and set a “buy” rating on the stock in a report on Friday. Finally, Canaccord Genuity Group lowered their price target on shares of Ulta Beauty from $538.00 to $526.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $436.26.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA traded up $37.06 during midday trading on Friday, reaching $351.53. 1,848,664 shares of the company’s stock were exchanged, compared to its average volume of 1,040,679. The stock has a market cap of $16.30 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.89 and a beta of 1.34. Ulta Beauty has a fifty-two week low of $309.01 and a fifty-two week high of $574.76. The firm’s 50 day simple moving average is $386.49 and its two-hundred day simple moving average is $386.82.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share for the quarter, beating analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the business earned $8.08 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities research analysts predict that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ULTA. Geode Capital Management LLC increased its stake in Ulta Beauty by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,199,935 shares of the specialty retailer’s stock valued at $520,587,000 after purchasing an additional 11,205 shares during the last quarter. Capital World Investors acquired a new stake in shares of Ulta Beauty in the fourth quarter worth approximately $430,674,000. Ontario Teachers Pension Plan Board purchased a new stake in Ulta Beauty in the third quarter valued at approximately $359,480,000. Deutsche Bank AG increased its position in Ulta Beauty by 1.4% during the fourth quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer’s stock worth $285,123,000 after purchasing an additional 9,291 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in shares of Ulta Beauty by 5.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock worth $237,519,000 after purchasing an additional 31,540 shares during the period. 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.