Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $370.00 at Wells Fargo & Company

Ulta Beauty (NASDAQ:ULTA) had its price objective hoisted by equities researchers at Wells Fargo & Company from $350.00 to $370.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 10.87% from the stock’s current price.

ULTA has been the subject of several other reports. DA Davidson raised their price target on shares of Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays raised their target price on shares of Ulta Beauty from $335.00 to $410.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Raymond James cut their price target on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. William Blair cut Ulta Beauty from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. Finally, Oppenheimer upped their target price on Ulta Beauty from $505.00 to $515.00 and gave the stock an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $458.78.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $415.14 on Tuesday. The business has a 50 day simple moving average of $400.28 and a 200 day simple moving average of $383.64. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76. The stock has a market cap of $19.25 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 2.38 and a beta of 1.28.

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

Hedge Funds Weigh In On Ulta Beauty

Several institutional investors and hedge funds have recently made changes to their positions in ULTA. National Bank of Canada FI lifted its holdings in Ulta Beauty by 16.6% during the 2nd quarter. National Bank of Canada FI now owns 18,392 shares of the specialty retailer’s stock worth $7,065,000 after purchasing an additional 2,619 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Ulta Beauty by 65.9% in the second quarter. Private Advisor Group LLC now owns 10,022 shares of the specialty retailer’s stock valued at $3,867,000 after buying an additional 3,982 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Ulta Beauty in the second quarter valued at approximately $525,000. Caprock Group LLC boosted its stake in shares of Ulta Beauty by 1.7% in the second quarter. Caprock Group LLC now owns 4,328 shares of the specialty retailer’s stock valued at $1,670,000 after buying an additional 72 shares during the period. Finally, First Foundation Advisors grew its position in Ulta Beauty by 45.9% during the second quarter. First Foundation Advisors now owns 162 shares of the specialty retailer’s stock worth $63,000 after buying an additional 51 shares in the last quarter. Institutional investors and hedge funds 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.