Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $650.00

Ulta Beauty (NASDAQ:ULTA) had its price objective increased by equities researchers at DA Davidson from $625.00 to $650.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. DA Davidson’s target price would suggest a potential upside of 7.43% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Cowen reaffirmed a “hold” rating on shares of Ulta Beauty in a research note on Friday, August 29th. Wall Street Zen lowered shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Ulta Beauty in a research report on Wednesday, October 8th. Wells Fargo & Company upped their target price on Ulta Beauty from $425.00 to $450.00 and gave the company an “underweight” rating in a report on Thursday, October 16th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $640.00 price target (up previously from $610.00) on shares of Ulta Beauty in a research report on Monday. Fourteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $560.88.

Ulta Beauty Stock Performance

Shares of ULTA stock traded up $71.07 during midday trading on Friday, hitting $605.02. 2,683,615 shares of the company were exchanged, compared to its average volume of 815,233. The firm has a market capitalization of $27.13 billion, a P/E ratio of 23.16, a PEG ratio of 3.60 and a beta of 0.87. The firm’s 50 day moving average price is $531.45 and its two-hundred day moving average price is $504.63. Ulta Beauty has a 52 week low of $309.01 and a 52 week high of $611.90.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, December 4th. The specialty retailer reported $5.14 EPS for the quarter, topping the consensus estimate of $4.61 by $0.53. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $5.14 earnings per share. Ulta Beauty has set its FY 2025 guidance at 25.200-25.500 EPS. Analysts expect that Ulta Beauty will post 23.96 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC grew its stake in shares of Ulta Beauty by 107.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 54 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 28 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Ulta Beauty in the 3rd quarter worth approximately $25,000. Hemington Wealth Management increased its stake in Ulta Beauty by 142.9% in the 2nd quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock worth $31,000 after buying an additional 40 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in Ulta Beauty in the 3rd quarter worth approximately $31,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Ulta Beauty during the 3rd quarter valued at about $31,000. Institutional investors own 90.39% of the company’s stock.

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.