Piper Sandler Issues Positive Forecast for Ulta Beauty (NASDAQ:ULTA) Stock Price

Ulta Beauty (NASDAQ:ULTA) had its price objective raised by research analysts at Piper Sandler from $390.00 to $394.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. Piper Sandler’s target price would indicate a potential downside of 9.36% from the company’s previous close.

ULTA has been the subject of several other reports. Oppenheimer upped their price objective on Ulta Beauty from $435.00 to $505.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Citigroup lifted their target price on Ulta Beauty from $390.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. DA Davidson lifted their price objective on shares of Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Canaccord Genuity Group lifted their price target on shares of Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $440.78.

Ulta Beauty Trading Up 0.8 %

ULTA traded up $3.32 during midday trading on Monday, reaching $434.67. The company’s stock had a trading volume of 209,982 shares, compared to its average volume of 485,175. The company has a fifty day simple moving average of $397.50 and a 200 day simple moving average of $382.73. The stock has a market cap of $20.16 billion, a P/E ratio of 17.39, a PEG 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.

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

Institutional Trading of Ulta Beauty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ULTA. Choreo LLC increased its position in shares of Ulta Beauty by 71.7% during the second quarter. Choreo LLC now owns 2,868 shares of the specialty retailer’s stock valued at $1,103,000 after buying an additional 1,198 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Ulta Beauty during the 2nd quarter worth approximately $19,136,000. Jensen Investment Management Inc. raised its position in shares of Ulta Beauty by 17.9% in the 3rd quarter. Jensen Investment Management Inc. now owns 11,330 shares of the specialty retailer’s stock worth $4,409,000 after acquiring an additional 1,720 shares in the last quarter. Distillate Capital Partners LLC purchased a new position in shares of Ulta Beauty in the 2nd quarter valued at approximately $14,665,000. Finally, Versor Investments LP bought a new stake in shares of Ulta Beauty during the third quarter valued at approximately $793,000. 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.