Ulta Beauty (NASDAQ:ULTA) Price Target Lowered to $415.00 at DA Davidson

Ulta Beauty (NASDAQ:ULTA) had its price objective reduced by DA Davidson from $510.00 to $415.00 in a research report released on Friday morning,Benzinga reports. DA Davidson currently has a buy rating on the specialty retailer’s stock.

ULTA has been the topic of a number of other reports. Wells Fargo & Company dropped their target price on Ulta Beauty from $360.00 to $310.00 and set an “underweight” rating on the stock in a research report on Friday. Barclays raised their target price 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. Oppenheimer raised their target price on Ulta Beauty from $505.00 to $515.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Morgan Stanley dropped their target price on Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Canaccord Genuity Group raised their target price on Ulta Beauty from $500.00 to $538.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Ulta Beauty has a consensus rating of “Hold” and a consensus target price of $431.13.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $357.48 on Friday. The stock has a 50-day simple moving average of $385.01 and a two-hundred day simple moving average of $386.69. The firm has a market capitalization of $16.58 billion, a P/E ratio of 14.30, a PEG ratio of 0.89 and a beta of 1.34. Ulta Beauty has a fifty-two week low of $309.01 and a fifty-two week high of $546.58.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share for the quarter, beating analysts’ consensus estimates of $7.13 by $1.33. The business 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 company’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted $8.08 EPS. As a group, analysts forecast that Ulta Beauty will post 23.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ULTA. Prestige Wealth Management Group LLC lifted its holdings in Ulta Beauty by 121.4% in the fourth 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 during the last quarter. Sunbelt Securities Inc. lifted its holdings in Ulta Beauty by 118.4% in the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 45 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in Ulta Beauty by 151.5% in the third 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 during the last quarter. Edge Capital Group LLC acquired a new position in Ulta Beauty in the fourth quarter valued at approximately $33,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Ulta Beauty in the third quarter valued at approximately $41,000. 90.39% of the stock is currently 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.