Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $360.00

Ulta Beauty (NASDAQ:ULTA) had its price target lifted by Piper Sandler from $357.00 to $360.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Several other equities research analysts also recently issued reports on the company. UBS Group reduced their price objective on Ulta Beauty from $550.00 to $505.00 and set a “buy” rating for the company in a research note on Friday, August 30th. StockNews.com upgraded shares of Ulta Beauty from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. B. Riley began coverage on shares of Ulta Beauty in a research note on Tuesday, September 10th. They issued a “sell” rating and a $300.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Ulta Beauty from $450.00 to $472.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Stifel Nicolaus upped their price target on shares of Ulta Beauty from $385.00 to $395.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $421.71.

Ulta Beauty Trading Down 1.7 %

NASDAQ ULTA opened at $392.87 on Tuesday. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76. The company has a market cap of $18.51 billion, a PE ratio of 15.77, a PEG ratio of 2.27 and a beta of 1.32. The stock’s 50-day moving average price is $373.67 and its two-hundred day moving average price is $376.39.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, beating the consensus estimate of $4.45 by $0.69. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $5.07 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Research analysts forecast that Ulta Beauty will post 23.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

Several large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in Ulta Beauty by 180,713.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock valued at $481,952,000 after acquiring an additional 1,237,884 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of Ulta Beauty in the third quarter valued at $359,480,000. Holocene Advisors LP raised its stake in shares of Ulta Beauty by 3,246.2% in the third quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock valued at $134,737,000 after purchasing an additional 335,914 shares in the last quarter. Atreides Management LP bought a new position in Ulta Beauty in the third quarter worth $73,069,000. Finally, Hsbc Holdings PLC boosted its stake in Ulta Beauty by 87.3% during the second quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock worth $130,380,000 after buying an additional 157,497 shares in the last quarter. 90.39% of the stock is currently 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.