Citigroup Lowers Ulta Beauty (NASDAQ:ULTA) Price Target to $365.00

Ulta Beauty (NASDAQ:ULTA) had its price target decreased by equities researchers at Citigroup from $405.00 to $365.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. Citigroup’s price objective would indicate a potential upside of 6.16% from the company’s previous close.

Several other research firms have also recently weighed in on ULTA. StockNews.com raised Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. William Blair cut Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. UBS Group upped their price objective on Ulta Beauty from $470.00 to $490.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. TD Cowen upped their price objective on Ulta Beauty from $450.00 to $480.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $500.00 price objective on shares of Ulta Beauty in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $427.13.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $343.83 on Monday. Ulta Beauty has a 1 year low of $309.01 and a 1 year high of $535.08. The business has a 50-day moving average of $381.84 and a two-hundred day moving average of $386.80. The company has a market capitalization of $15.94 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the company earned $8.08 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Institutional Trading of Ulta Beauty

A number of hedge funds have recently made changes to their positions in ULTA. Thrivent Financial for Lutherans lifted its position in shares of Ulta Beauty by 382.5% in the third quarter. Thrivent Financial for Lutherans now owns 10,698 shares of the specialty retailer’s stock valued at $4,163,000 after buying an additional 8,481 shares during the last quarter. MAI Capital Management increased its stake in shares of Ulta Beauty by 1.7% during the third quarter. MAI Capital Management now owns 5,586 shares of the specialty retailer’s stock worth $2,174,000 after purchasing an additional 93 shares during the period. Quest Partners LLC increased its stake in shares of Ulta Beauty by 22.3% during the third quarter. Quest Partners LLC now owns 1,197 shares of the specialty retailer’s stock worth $466,000 after purchasing an additional 218 shares during the period. Mawer Investment Management Ltd. increased its stake in shares of Ulta Beauty by 3.2% during the third quarter. Mawer Investment Management Ltd. now owns 36,947 shares of the specialty retailer’s stock worth $14,377,000 after purchasing an additional 1,152 shares during the period. Finally, Lindenwold Advisors INC increased its stake in shares of Ulta Beauty by 1.7% during the third quarter. Lindenwold Advisors INC now owns 4,826 shares of the specialty retailer’s stock worth $1,878,000 after purchasing an additional 82 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.