Bank of America Issues Pessimistic Forecast for Ulta Beauty (NASDAQ:ULTA) Stock Price

Ulta Beauty (NASDAQ:ULTA) had its price objective lowered by stock analysts at Bank of America from $475.00 to $380.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. Bank of America‘s price target indicates a potential upside of 20.84% from the stock’s previous close.

ULTA has been the topic of several other research reports. Wells Fargo & Company raised their price target on Ulta Beauty from $350.00 to $370.00 and gave the company an “underweight” rating in a report on Tuesday, January 7th. Telsey Advisory Group reissued an “outperform” rating and set a $500.00 price objective on shares of Ulta Beauty in a report on Monday. William Blair lowered Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. DA Davidson increased their price target on shares of Ulta Beauty from $435.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley upgraded shares of Ulta Beauty from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Ulta Beauty presently has a consensus rating of “Hold” and an average target price of $452.04.

Ulta Beauty Stock Down 4.5 %

ULTA opened at $314.47 on Friday. The company’s 50-day moving average price is $386.49 and its two-hundred day moving average price is $386.82. Ulta Beauty has a twelve month low of $309.01 and a twelve month high of $574.76. The stock has a market cap of $14.58 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.89 and a beta of 1.34.

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

Institutional Investors Weigh In On Ulta Beauty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prestige Wealth Management Group LLC increased its position in 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 in the last quarter. Sunbelt Securities Inc. increased its stake in Ulta Beauty by 118.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after buying an additional 45 shares in the last quarter. Westside Investment Management Inc. raised its holdings in Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 50 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Ulta Beauty during the 4th quarter valued at approximately $43,000. Finally, Ameliora Wealth Management Ltd. bought a new position in shares of Ulta Beauty during the fourth quarter worth $43,000. Hedge funds and other 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.