Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $476.00

Ulta Beauty (NASDAQ:ULTA) had its price target raised by Canaccord Genuity Group from $442.00 to $476.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the specialty retailer’s stock.

ULTA has been the topic of a number of other research reports. William Blair downgraded Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. Robert W. Baird cut their price objective on shares of Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating for the company in a research report on Friday, August 23rd. Citigroup boosted their price target on shares of Ulta Beauty from $345.00 to $390.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Stifel Nicolaus raised their price objective on shares of Ulta Beauty from $385.00 to $395.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, Piper Sandler boosted their target price on Ulta Beauty from $356.00 to $357.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $421.71.

Ulta Beauty Stock Performance

Shares of Ulta Beauty stock opened at $392.87 on Tuesday. The business has a 50-day simple moving average of $373.67 and a 200-day simple moving average of $376.39. Ulta Beauty has a one year low of $318.17 and a one year high of $574.76. The company has a market cap of $18.51 billion, a PE ratio of 15.77, a P/E/G ratio of 2.27 and a beta of 1.32.

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 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 company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the business posted $5.07 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts predict that Ulta Beauty will post 23.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

A number of institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. raised its stake in Ulta Beauty by 83.3% in the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Ulta Beauty in the second quarter valued at approximately $32,000. Paladin Wealth LLC purchased a new position in shares of Ulta Beauty during the third quarter valued at approximately $32,000. Westside Investment Management Inc. boosted its position in Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 50 shares during the last quarter. Finally, Sunbelt Securities Inc. grew 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 acquiring an additional 45 shares during the period. 90.39% of the stock is 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.