Ulta Beauty (NASDAQ:ULTA) Receives “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Ulta Beauty (NASDAQ:ULTA) in a research note released on Wednesday,Benzinga reports. They currently have a $450.00 price target on the specialty retailer’s stock.

Other equities research analysts have also recently issued reports about the company. Oppenheimer reaffirmed an “outperform” rating and set a $435.00 price objective on shares of Ulta Beauty in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of Ulta Beauty from $450.00 to $472.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Evercore ISI lowered their price objective on shares of Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, August 26th. Bank of America cut their target price on shares of Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating for the company in a research report on Friday, August 30th. Finally, Barclays increased their price target on Ulta Beauty from $328.00 to $335.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $420.71.

Ulta Beauty Stock Performance

Shares of Ulta Beauty stock opened at $375.25 on Wednesday. The company has a 50-day simple moving average of $374.99 and a two-hundred day simple moving average of $376.68. The stock has a market capitalization of $17.68 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 2.08 and a beta of 1.33. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.17). The business had revenue of $2.55 billion during 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%. The business’s revenue was up .9% compared to the same quarter last year. During the same period last year, the company posted $6.02 earnings per share. As a group, equities research analysts forecast that Ulta Beauty will post 23.07 EPS for the current fiscal year.

Institutional Trading of Ulta Beauty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ULTA. International Assets Investment Management LLC grew its stake in shares of Ulta Beauty by 180,713.0% during the third quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock valued at $481,952,000 after buying an additional 1,237,884 shares during the last quarter. Geode Capital Management LLC grew its position in Ulta Beauty by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,188,730 shares of the specialty retailer’s stock valued at $461,059,000 after acquiring an additional 10,153 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Ulta Beauty in the third quarter worth $359,480,000. TD Asset Management Inc lifted its position in shares of Ulta Beauty by 14.1% during the second quarter. TD Asset Management Inc now owns 620,793 shares of the specialty retailer’s stock worth $239,545,000 after purchasing an additional 76,721 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in shares of Ulta Beauty by 5.4% during the third quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock valued at $237,519,000 after purchasing an additional 31,540 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.