Ulta Beauty (NASDAQ:ULTA) PT Raised to $485.00

Ulta Beauty (NASDAQ:ULTA – Get Rating) had its price objective increased by equities researchers at Piper Sandler from $465.00 to $485.00 in a note issued to investors on Friday, The Fly reports. Piper Sandler’s price target would suggest a potential upside of 28.32% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Ulta Beauty from $460.00 to $480.00 in a research report on Friday. Credit Suisse Group reaffirmed a “buy” rating and issued a $455.00 target price on shares of Ulta Beauty in a report on Friday, March 11th. Barclays lifted their target price 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. Robert W. Baird decreased their target price on shares of Ulta Beauty from $480.00 to $450.00 in a report on Friday, March 11th. Finally, BMO Capital Markets lifted their target price on shares of Ulta Beauty from $365.00 to $385.00 and gave the stock a “market perform” rating in a report on Friday, March 11th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Ulta Beauty presently has a consensus rating of “Buy” and a consensus price target of $449.05.

Shares of ULTA opened at $377.96 on Friday. The firm’s 50-day moving average price is $393.85 and its 200-day moving average price is $386.72. The firm has a market capitalization of $19.74 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 1.84 and a beta of 1.54. Ulta Beauty has a 1-year low of $319.05 and a 1-year high of $438.63.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last announced its earnings results on Thursday, May 26th. The specialty retailer reported $6.30 earnings per share for the quarter, beating analysts’ consensus estimates of $4.43 by $1.87. Ulta Beauty had a net margin of 11.42% and a return on equity of 54.42%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the firm posted $4.10 EPS. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, sell-side analysts expect that Ulta Beauty will post 18.58 earnings per share for the current fiscal year.

In related news, insider Jodi J. Caro sold 5,340 shares of the company’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $384.54, for a total transaction of $2,053,443.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in Ulta Beauty by 4.4% during the first quarter. Signaturefd LLC now owns 617 shares of the specialty retailer’s stock valued at $246,000 after purchasing an additional 26 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Ulta Beauty by 59.1% in the first quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 26 shares during the period. J2 Capital Management Inc raised its stake in shares of Ulta Beauty by 3.7% in the first quarter. J2 Capital Management Inc now owns 817 shares of the specialty retailer’s stock valued at $325,000 after acquiring an additional 29 shares during the period. Greytown Advisors Inc. raised its stake in shares of Ulta Beauty by 2.7% in the third quarter. Greytown Advisors Inc. now owns 1,157 shares of the specialty retailer’s stock valued at $418,000 after acquiring an additional 30 shares during the period. Finally, Salem Investment Counselors Inc. raised its stake in shares of Ulta Beauty by 12.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 263 shares of the specialty retailer’s stock valued at $108,000 after acquiring an additional 30 shares during the period. 89.20% of the stock is currently owned by institutional investors.

About Ulta Beauty (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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