Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $394.00

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its target price boosted by stock analysts at Piper Sandler from $390.00 to $394.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the specialty retailer's stock. Piper Sandler's price objective would suggest a potential downside of 8.65% from the stock's previous close.

A number of other research analysts also recently issued reports on ULTA. Citigroup boosted their price target on shares of Ulta Beauty from $390.00 to $450.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. StockNews.com downgraded Ulta Beauty from a "hold" rating to a "sell" rating in a report on Friday, December 20th. JPMorgan Chase & Co. upped their target price on Ulta Beauty from $472.00 to $480.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Stifel Nicolaus lifted their target price on Ulta Beauty from $395.00 to $455.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Ulta Beauty from $426.00 to $424.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Ulta Beauty has an average rating of "Hold" and an average target price of $440.78.

Ulta Beauty Stock Performance

Shares of NASDAQ:ULTA traded down $0.05 during midday trading on Monday, hitting $431.30. 679,091 shares of the stock were exchanged, compared to its average volume of 645,204. The business's 50-day moving average price is $397.50 and its 200 day moving average price is $382.73. Ulta Beauty has a 12 month low of $318.17 and a 12 month high of $574.76. The stock has a market capitalization of $20.00 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 2.38 and a beta of 1.28.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping 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 company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business earned $5.07 earnings per share. Ulta Beauty's revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that Ulta Beauty will post 23.57 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of Ulta Beauty by 4.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 627 shares of the specialty retailer's stock worth $244,000 after buying an additional 28 shares in the last quarter. Brighton Jones LLC grew its stake in Ulta Beauty by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 1,826 shares of the specialty retailer's stock valued at $705,000 after purchasing an additional 33 shares during the period. Daymark Wealth Partners LLC raised its stake in shares of Ulta Beauty by 3.0% during the 2nd quarter. Daymark Wealth Partners LLC now owns 1,221 shares of the specialty retailer's stock worth $471,000 after purchasing an additional 36 shares during the period. Trust Investment Advisors boosted its holdings in shares of Ulta Beauty by 2.5% in the 2nd quarter. Trust Investment Advisors now owns 1,491 shares of the specialty retailer's stock worth $575,000 after buying an additional 37 shares during the last quarter. Finally, Global Trust Asset Management LLC increased its holdings in Ulta Beauty by 39.6% during the third quarter. Global Trust Asset Management LLC now owns 141 shares of the specialty retailer's stock worth $55,000 after buying an additional 40 shares during the last quarter. 90.39% of the stock is owned by 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.