JPMorgan Chase & Co. Cuts Ulta Beauty (NASDAQ:ULTA) Price Target to $475.00

Ulta Beauty (NASDAQ:ULTA) had its price objective trimmed by JPMorgan Chase & Co. from $480.00 to $475.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the specialty retailer’s stock.

ULTA has been the subject of a number of other reports. B. Riley decreased their price objective on Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday. Morgan Stanley decreased their price objective on Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating for the company in a research note on Friday. Barclays upped their price objective on Ulta Beauty from $410.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 9th. Piper Sandler decreased their price target on Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a research note on Friday. Finally, TD Cowen increased their price target on Ulta Beauty from $450.00 to $480.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $431.13.

Ulta Beauty Trading Up 13.7 %

Shares of ULTA stock opened at $357.48 on Friday. Ulta Beauty has a twelve month low of $309.01 and a twelve month high of $544.36. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 0.89 and a beta of 1.34. The stock has a fifty day simple moving average of $385.01 and a two-hundred day simple moving average of $386.94.

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

Institutional Trading of Ulta Beauty

Several hedge funds and other institutional investors have recently bought and sold shares of ULTA. Capital World Investors acquired a new stake in Ulta Beauty during the fourth quarter worth about $430,674,000. Ontario Teachers Pension Plan Board acquired a new stake in Ulta Beauty during the third quarter worth about $359,480,000. Norges Bank acquired a new stake in Ulta Beauty during the fourth quarter worth about $239,432,000. Marshall Wace LLP grew its holdings in Ulta Beauty by 10,336.7% during the fourth quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer’s stock worth $199,681,000 after acquiring an additional 454,711 shares during the period. Finally, Holocene Advisors LP grew its holdings in Ulta Beauty by 3,246.2% during the third quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock worth $134,737,000 after acquiring an additional 335,914 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

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.