Ulta Beauty (NASDAQ:ULTA) PT Lowered to $635.00

Ulta Beauty (NASDAQ:ULTAGet Free Report) had its target price reduced by analysts at Evercore ISI from $656.00 to $635.00 in a research note issued on Friday. Evercore ISI’s target price indicates a potential upside of 18.47% from the company’s previous close.

ULTA has been the topic of a number of other reports. DA Davidson lifted their price objective on Ulta Beauty from $495.00 to $530.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Ulta Beauty in a research note on Monday, November 27th. Piper Sandler lifted their price objective on Ulta Beauty from $540.00 to $572.00 and gave the stock an “overweight” rating in a research note on Friday, December 1st. Robert W. Baird lifted their price objective on Ulta Beauty from $550.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday, December 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $525.00 price objective on shares of Ulta Beauty in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ulta Beauty has a consensus rating of “Moderate Buy” and a consensus price target of $546.90.

Get Our Latest Analysis on Ulta Beauty

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA opened at $535.98 on Friday. Ulta Beauty has a 52 week low of $368.02 and a 52 week high of $574.76. The stock’s fifty day moving average is $518.69 and its 200 day moving average is $455.90. The stock has a market capitalization of $26.03 billion, a P/E ratio of 21.74, a PEG ratio of 2.35 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last released its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share for the quarter, topping the consensus estimate of $7.49 by $0.59. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Ulta Beauty had a return on equity of 61.42% and a net margin of 11.37%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $6.68 earnings per share. Equities research analysts forecast that Ulta Beauty will post 25.46 earnings per share for the current year.

Ulta Beauty declared that its Board of Directors has authorized a share buyback plan on Thursday, March 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 7.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Ulta Beauty

Large investors have recently bought and sold shares of the stock. Wahed Invest LLC increased its stake in shares of Ulta Beauty by 6.5% during the fourth quarter. Wahed Invest LLC now owns 835 shares of the specialty retailer’s stock valued at $409,000 after buying an additional 51 shares during the period. Wellington Management Group LLP boosted its holdings in Ulta Beauty by 3.4% in the fourth quarter. Wellington Management Group LLP now owns 10,130 shares of the specialty retailer’s stock worth $4,964,000 after acquiring an additional 334 shares in the last quarter. Processus Wealth & Capital Management LLC bought a new stake in Ulta Beauty in the fourth quarter worth $1,746,000. Congress Asset Management Co. MA lifted its holdings in shares of Ulta Beauty by 0.5% during the fourth quarter. Congress Asset Management Co. MA now owns 255,014 shares of the specialty retailer’s stock valued at $124,954,000 after purchasing an additional 1,158 shares in the last quarter. Finally, Vima LLC bought a new position in shares of Ulta Beauty during the fourth quarter valued at $27,000. 92.30% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Company Profile

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Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.

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Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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