Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $650.00

Ulta Beauty (NASDAQ:ULTA – Get Rating) had its price objective lifted by Evercore ISI from $600.00 to $650.00 in a report released on Friday morning, The Fly reports.

Other equities research analysts also recently issued research reports about the company. Credit Suisse Group boosted their price target on Ulta Beauty from $535.00 to $580.00 in a research report on Friday. Barclays raised their price target on shares of Ulta Beauty from $548.00 to $636.00 in a report on Friday. UBS Group boosted their price objective on shares of Ulta Beauty from $540.00 to $590.00 and gave the stock a buy rating in a research note on Friday, December 2nd. Piper Sandler lifted their target price on shares of Ulta Beauty from $510.00 to $525.00 and gave the company an overweight rating in a report on Tuesday, November 29th. Finally, Oppenheimer increased their price target on Ulta Beauty from $535.00 to $600.00 and gave the company an outperform rating in a report on Thursday, February 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $554.00.

Ulta Beauty Trading Up 0.2 %

NASDAQ ULTA opened at $521.18 on Friday. The company has a market capitalization of $26.52 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The business’s 50-day moving average price is $510.17 and its 200 day moving average price is $456.89. Ulta Beauty has a twelve month low of $330.80 and a twelve month high of $537.52.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last released its earnings results on Thursday, March 9th. The specialty retailer reported $6.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $1.15. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Ulta Beauty had a net margin of 12.17% and a return on equity of 67.19%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the company earned $5.41 earnings per share. Equities analysts predict that Ulta Beauty will post 25.23 EPS for the current year.

Institutional Investors Weigh In On Ulta Beauty

Several institutional investors and 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 valued at $2,344,096,000 after purchasing an additional 40,190 shares during the period. BlackRock Inc. increased its holdings in shares of Ulta Beauty by 1.6% in the 3rd quarter. BlackRock Inc. now owns 4,231,441 shares of the specialty retailer’s stock worth $1,697,611,000 after acquiring an additional 65,087 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Ulta Beauty by 125.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,530,543 shares of the specialty retailer’s stock valued at $717,932,000 after purchasing an additional 852,258 shares during the last quarter. Morgan Stanley boosted its stake in Ulta Beauty by 69.7% during the 4th quarter. Morgan Stanley now owns 1,133,168 shares of the specialty retailer’s stock valued at $531,535,000 after purchasing an additional 465,616 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Ulta Beauty by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 1,080,779 shares of the specialty retailer’s stock valued at $506,083,000 after purchasing an additional 15,543 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.

Ulta Beauty Company Profile

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Ulta Beauty, Inc engages in the retail of beauty products. The company has one reportable segment, which includes retail stores, salon services, and e-commerce. Its products include makeup, skin care, tools and brushes, fragrance, and bath and body. Ulta was founded on January 9, 1990, and is headquartered in Bolingbrook, IL.