Ulta Beauty (NASDAQ:ULTA) PT Raised to $490.00

Ulta Beauty (NASDAQ:ULTAGet Rating) had its target price upped by research analysts at DA Davidson from $465.00 to $490.00 in a report issued on Thursday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. DA Davidson’s target price suggests a potential upside of 14.72% from the company’s current price.

Several other analysts have also recently commented on the stock. Jefferies Financial Group raised shares of Ulta Beauty from a “hold” rating to a “buy” rating and increased their price target for the company from $400.00 to $475.00 in a research note on Friday, May 27th. JPMorgan Chase & Co. raised their price objective on shares of Ulta Beauty from $460.00 to $480.00 in a research note on Friday, May 27th. Zacks Investment Research raised shares of Ulta Beauty from a “hold” rating to a “strong-buy” rating and set a $468.00 price objective on the stock in a research note on Thursday, June 2nd. Barclays raised their price objective on shares of Ulta Beauty from $469.00 to $491.00 and gave the company an “overweight” rating in a research note on Tuesday, May 31st. Finally, Piper Sandler raised their price objective on shares of Ulta Beauty from $465.00 to $485.00 and gave the company an “overweight” rating in a research note on Friday, May 27th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Ulta Beauty currently has an average rating of “Buy” and a consensus price target of $458.36.

Ulta Beauty stock traded up $1.73 during trading hours on Thursday, hitting $427.12. 22,323 shares of the stock were exchanged, compared to its average volume of 1,076,984. The stock has a market capitalization of $22.13 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.97 and a beta of 1.54. Ulta Beauty has a 12 month low of $319.05 and a 12 month high of $438.63. The business’s 50-day moving average is $398.06 and its two-hundred day moving average is $387.77.

Ulta Beauty (NASDAQ:ULTAGet Rating) last released its quarterly earnings results on Thursday, May 26th. The specialty retailer reported $6.30 EPS for the quarter, beating the consensus estimate of $4.46 by $1.84. Ulta Beauty had a net margin of 12.03% and a return on equity of 60.83%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the prior year, the firm earned $4.10 earnings per share. Ulta Beauty’s revenue was up 21.0% compared to the same quarter last year. As a group, sell-side analysts expect that Ulta Beauty will post 20.07 EPS for the current year.

In other Ulta Beauty news, insider Jodi J. Caro sold 5,340 shares of Ulta Beauty stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $384.54, for a total value of $2,053,443.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kecia Steelman sold 13,199 shares of Ulta Beauty stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $405.02, for a total transaction of $5,345,858.98. Following the completion of the transaction, the chief operating officer now directly owns 16,627 shares of the company’s stock, valued at approximately $6,734,267.54. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in ULTA. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in Ulta Beauty in the 4th quarter worth about $25,000. North Star Investment Management Corp. acquired a new stake in Ulta Beauty in the 4th quarter worth about $27,000. Parkside Financial Bank & Trust raised its position in shares of Ulta Beauty by 59.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 26 shares in the last quarter. Bank of New Hampshire acquired a new position in shares of Ulta Beauty in the 1st quarter valued at approximately $29,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Ulta Beauty by 525.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 75 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 63 shares in the last quarter. 89.20% of the stock is 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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