Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $480.00 at TD Cowen

Ulta Beauty (NASDAQ:ULTA) had its target price raised by research analysts at TD Cowen from $450.00 to $480.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the specialty retailer’s stock. TD Cowen’s target price would suggest a potential upside of 15.32% from the stock’s current price.

A number of other equities research analysts also recently issued reports on ULTA. Wells Fargo & Company boosted their price target on Ulta Beauty from $350.00 to $370.00 and gave the company an “underweight” rating in a research note on Tuesday. Telsey Advisory Group reissued an “outperform” rating and set a $500.00 price target on shares of Ulta Beauty in a report on Tuesday. UBS Group upped their price objective on Ulta Beauty from $470.00 to $490.00 and gave the company a “buy” rating in a report on Friday, December 6th. Bank of America boosted their price objective on Ulta Beauty from $460.00 to $475.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $458.78.

Ulta Beauty Stock Performance

ULTA traded down $12.02 during trading on Wednesday, reaching $416.25. 461,050 shares of the stock were exchanged, compared to its average volume of 838,363. The stock has a market cap of $19.30 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 2.38 and a beta of 1.28. Ulta Beauty has a twelve month low of $318.17 and a twelve month high of $574.76. The stock’s 50 day moving average price is $399.50 and its two-hundred day moving average price is $383.42.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company posted $5.07 earnings per share. Equities research analysts predict that Ulta Beauty will post 23.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

A number of institutional investors have recently modified their holdings of the company. Douglas Lane & Associates LLC lifted its holdings in shares of Ulta Beauty by 5.4% during the 4th quarter. Douglas Lane & Associates LLC now owns 2,109 shares of the specialty retailer’s stock worth $917,000 after acquiring an additional 108 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Ulta Beauty by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 32,031 shares of the specialty retailer’s stock valued at $14,015,000 after purchasing an additional 3,935 shares in the last quarter. GAMMA Investing LLC increased its position in Ulta Beauty by 170.4% during the fourth quarter. GAMMA Investing LLC now owns 1,141 shares of the specialty retailer’s stock worth $496,000 after buying an additional 719 shares during the last quarter. Synovus Financial Corp boosted its stake in Ulta Beauty by 5.2% during the 3rd quarter. Synovus Financial Corp now owns 2,556 shares of the specialty retailer’s stock valued at $995,000 after purchasing an additional 126 shares during the period. Finally, World Investment Advisors LLC acquired a new position in shares of Ulta Beauty in the third quarter valued at $212,000. 90.39% of the stock is owned by institutional investors and hedge funds.

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.