Citigroup Increases Ulta Beauty (NASDAQ:ULTA) Price Target to $390.00

Ulta Beauty (NASDAQ:ULTA) had its price objective raised by Citigroup from $345.00 to $390.00 in a research note released on Friday,Benzinga reports. Citigroup currently has a neutral rating on the specialty retailer’s stock.

ULTA has been the subject of several other research reports. Stifel Nicolaus raised 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. Oppenheimer reissued an “outperform” rating and issued a $435.00 target price on shares of Ulta Beauty in a research report on Wednesday, October 16th. DA Davidson dropped their price target on Ulta Beauty from $507.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. William Blair cut Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Finally, Loop Capital decreased their price objective on Ulta Beauty from $520.00 to $450.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Ulta Beauty has a consensus rating of “Hold” and an average target price of $422.58.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA opened at $386.64 on Friday. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76. The company has a market capitalization of $18.22 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.22 and a beta of 1.33. The business has a fifty day moving average price of $374.12 and a two-hundred day moving average price of $376.18.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing the consensus estimate of $5.47 by ($0.17). The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. Ulta Beauty’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.02 EPS. Sell-side analysts anticipate that Ulta Beauty will post 23.07 earnings per share for the current year.

Institutional Investors Weigh In On Ulta Beauty

A number of institutional investors have recently made changes to their positions in ULTA. UMB Bank n.a. lifted its stake in Ulta Beauty by 83.3% in the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 30 shares during the last quarter. LRI Investments LLC purchased a new stake in Ulta Beauty during the 1st quarter valued at about $31,000. Innealta Capital LLC bought a new position in Ulta Beauty during the 2nd quarter worth approximately $32,000. Paladin Wealth LLC bought a new position in Ulta Beauty during the 3rd quarter worth approximately $32,000. Finally, Westside Investment Management Inc. increased its stake in Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors 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.