Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $394.00

Ulta Beauty (NASDAQ:ULTA) had its target price upped by Piper Sandler from $390.00 to $394.00 in a research report released on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the specialty retailer’s stock.

Other equities analysts also recently issued reports about the stock. Citigroup lifted their price objective on shares of Ulta Beauty from $390.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Loop Capital upped their price objective on shares of Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Telsey Advisory Group increased their price objective on shares of Ulta Beauty from $450.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on Ulta Beauty from $472.00 to $480.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Canaccord Genuity Group increased their price target on Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $458.78.

Ulta Beauty Price Performance

ULTA opened at $415.14 on Monday. 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 $19.25 billion, a PE ratio of 16.61, a P/E/G ratio of 2.38 and a beta of 1.28. The company’s 50-day moving average is $400.28 and its 200 day moving average is $383.64.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping the consensus estimate of $4.45 by $0.69. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted $5.07 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, analysts expect that Ulta Beauty will post 23.57 EPS for the current year.

Institutional Investors Weigh In On Ulta Beauty

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