Robert W. Baird Boosts Ulta Beauty (NASDAQ:ULTA) Price Target to $490.00

Ulta Beauty (NASDAQ:ULTAGet Rating) had its price objective lifted by research analysts at Robert W. Baird from $450.00 to $490.00 in a research note issued on Friday, The Fly reports. Robert W. Baird’s price objective would suggest a potential upside of 29.64% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Jefferies Financial Group raised Ulta Beauty from a “hold” rating to a “buy” rating in a research note on Friday. Barclays boosted their price objective on shares of Ulta Beauty from $440.00 to $469.00 and gave the stock an “overweight” rating in a report on Monday, March 14th. JPMorgan Chase & Co. increased their target price on shares of Ulta Beauty from $460.00 to $480.00 in a report on Friday. Credit Suisse Group boosted their price target on Ulta Beauty from $455.00 to $475.00 in a research note on Friday. Finally, Piper Sandler lifted their price objective on Ulta Beauty from $465.00 to $485.00 in a report on Friday. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $450.86.

Shares of ULTA stock opened at $377.96 on Friday. The company has a market capitalization of $19.74 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 1.84 and a beta of 1.54. The business’s 50 day moving average is $393.85 and its two-hundred day moving average is $386.72. Ulta Beauty has a twelve month low of $319.05 and a twelve month high of $438.63.

Ulta Beauty (NASDAQ:ULTAGet Rating) last announced its quarterly earnings data on Thursday, May 26th. The specialty retailer reported $6.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $1.87. Ulta Beauty had a net margin of 11.42% and a return on equity of 54.42%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the company posted $4.10 EPS. Ulta Beauty’s revenue was up 21.0% compared to the same quarter last year. Research analysts expect that Ulta Beauty will post 18.58 EPS for the current year.

In other Ulta Beauty news, insider Jodi J. Caro sold 5,340 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $384.54, for a total transaction of $2,053,443.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of ULTA. Vanguard Group Inc. boosted its position in Ulta Beauty by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 5,886,434 shares of the specialty retailer’s stock worth $2,344,096,000 after acquiring an additional 40,190 shares during the period. BlackRock Inc. grew its position in Ulta Beauty by 11.4% in the fourth quarter. BlackRock Inc. now owns 4,234,911 shares of the specialty retailer’s stock worth $1,746,223,000 after buying an additional 434,595 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Ulta Beauty by 43.1% in the first quarter. Wellington Management Group LLP now owns 2,276,111 shares of the specialty retailer’s stock valued at $906,392,000 after buying an additional 685,026 shares in the last quarter. State Street Corp lifted its position in shares of Ulta Beauty by 5.3% during the 4th quarter. State Street Corp now owns 2,208,301 shares of the specialty retailer’s stock valued at $910,571,000 after acquiring an additional 110,198 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Ulta Beauty by 15.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,104,245 shares of the specialty retailer’s stock worth $397,603,000 after acquiring an additional 149,814 shares in the last quarter. 89.20% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Company Profile (Get Rating)

Ulta Beauty, Inc operates as a retailer of beauty products in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; professional hair products; salon services, including hair, skin, makeup, and brow services; and nail services.

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