Ulta Beauty (NASDAQ:ULTA) Upgraded at TD Cowen

Ulta Beauty (NASDAQ:ULTA) was upgraded by stock analysts at TD Cowen from a “hold” rating to a “buy” rating in a report issued on Monday,Benzinga reports. The firm presently has a $725.00 target price on the specialty retailer’s stock, up from their previous target price of $600.00. TD Cowen’s price objective indicates a potential upside of 20.53% from the company’s current price.

ULTA has been the subject of several other reports. Wall Street Zen downgraded Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Raymond James Financial reissued an “outperform” rating on shares of Ulta Beauty in a research report on Friday. Evercore ISI boosted their price target on Ulta Beauty from $640.00 to $660.00 and gave the stock an “outperform” rating in a report on Friday. Barclays restated an “overweight” rating and issued a $647.00 price objective on shares of Ulta Beauty in a research report on Friday. Finally, Canaccord Genuity Group lifted their price objective on Ulta Beauty from $653.00 to $674.00 and gave the stock a “buy” rating in a research report on Friday. Sixteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $572.75.

Ulta Beauty Stock Up 12.7%

Ulta Beauty stock opened at $601.50 on Monday. The firm has a market capitalization of $26.68 billion, a PE ratio of 23.06, a P/E/G ratio of 3.83 and a beta of 0.87. Ulta Beauty has a 52 week low of $309.01 and a 52 week high of $611.90. The firm’s 50-day simple moving average is $532.44 and its 200 day simple moving average is $507.32.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, December 4th. The specialty retailer reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.53. Ulta Beauty had a net margin of 9.93% and a return on equity of 46.33%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the firm posted $5.14 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Ulta Beauty has set its FY 2025 guidance at 25.200-25.500 EPS. On average, research analysts expect that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

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