Ulta Beauty (NASDAQ:ULTA) Given New $460.00 Price Target at Morgan Stanley

Ulta Beauty (NASDAQ:ULTA) had its target price decreased by Morgan Stanley from $500.00 to $460.00 in a report issued on Friday morning, MarketBeat Ratings reports. Morgan Stanley currently has an overweight rating on the specialty retailer’s stock.

Other equities research analysts have also issued research reports about the company. StockNews.com raised Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. Piper Sandler lowered their price target on Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating on the stock in a research report on Friday. UBS Group raised their price target on Ulta Beauty from $470.00 to $490.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Barclays raised their price target on Ulta Beauty from $410.00 to $445.00 and gave the company an “equal weight” rating in a research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. raised their price target on Ulta Beauty from $472.00 to $480.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $431.13.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $357.48 on Friday. The firm has a market capitalization of $16.58 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 0.89 and a beta of 1.34. Ulta Beauty has a 52-week low of $309.01 and a 52-week high of $544.36. The stock has a fifty day moving average of $385.01 and a 200 day moving average of $386.94.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, beating 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 quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $8.08 earnings per share. Equities analysts forecast that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ULTA. Prestige Wealth Management Group LLC boosted its position in Ulta Beauty by 121.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 34 shares in the last quarter. Sunbelt Securities Inc. boosted its position in Ulta Beauty by 118.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 45 shares in the last quarter. Westside Investment Management Inc. boosted its position in Ulta Beauty by 151.5% during the 3rd 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 in the last quarter. Edge Capital Group LLC bought a new stake in Ulta Beauty during the 4th quarter valued at approximately $33,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Ulta Beauty during the 3rd quarter valued at approximately $41,000. 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.