Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $465.00 at Oppenheimer

Ulta Beauty (NASDAQ:ULTA) had its price target upped by Oppenheimer from $435.00 to $465.00 in a report issued on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the specialty retailer’s stock.

Several other equities research analysts have also recently issued reports on the stock. Canaccord Genuity Group decreased their target price on shares of Ulta Beauty from $538.00 to $526.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. B. Riley decreased their target price on shares of Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Morgan Stanley decreased their target price on shares of Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Barclays decreased their target price on shares of Ulta Beauty from $445.00 to $327.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. Finally, Stifel Nicolaus decreased their target price on shares of Ulta Beauty from $475.00 to $400.00 and set a “hold” rating on the stock in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $424.00.

Ulta Beauty Price Performance

Ulta Beauty stock opened at $414.40 on Tuesday. Ulta Beauty has a 12-month low of $309.01 and a 12-month high of $460.00. The stock has a market capitalization of $18.71 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.89 and a beta of 1.06. The firm’s 50-day moving average is $374.13 and its two-hundred day moving average is $386.06.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.13 by $1.33. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the company earned $8.08 EPS. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, analysts forecast that Ulta Beauty will post 23.96 EPS for the current year.

Insider Transactions at Ulta Beauty

In other news, insider Jodi J. Caro sold 902 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the transaction, the insider now directly owns 7,632 shares of the company’s stock, valued at approximately $2,817,429.12. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Institutional Trading of Ulta Beauty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prestige Wealth Management Group LLC increased its stake in shares of Ulta Beauty by 121.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock worth $27,000 after buying an additional 34 shares during the last quarter. American National Bank & Trust bought a new stake in shares of Ulta Beauty in the first quarter worth $29,000. Wayfinding Financial LLC bought a new stake in shares of Ulta Beauty in the first quarter worth $31,000. Rakuten Securities Inc. increased its stake in shares of Ulta Beauty by 218.5% in the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock worth $32,000 after buying an additional 59 shares during the last quarter. Finally, Edge Capital Group LLC bought a new stake in shares of Ulta Beauty in the fourth quarter worth $33,000. 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.