Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $630.00 at Raymond James

Ulta Beauty (NASDAQ:ULTAFree Report) had its price target boosted by Raymond James from $575.00 to $630.00 in a research report released on Monday morning, Benzinga reports. Raymond James currently has a strong-buy rating on the specialty retailer’s stock.

A number of other analysts have also issued reports on the stock. Evercore ISI reduced their price target on shares of Ulta Beauty from $656.00 to $635.00 and set an outperform rating for the company in a research report on Friday. Telsey Advisory Group reaffirmed an outperform rating and set a $600.00 price objective on shares of Ulta Beauty in a research report on Monday, November 27th. Wells Fargo & Company raised their price objective on shares of Ulta Beauty from $375.00 to $400.00 and gave the company an underweight rating in a research report on Friday, December 1st. Loop Capital lowered shares of Ulta Beauty from a buy rating to a hold rating and set a $530.00 price objective on the stock. in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ulta Beauty from $535.00 to $600.00 and gave the company an overweight rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $579.81.

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Ulta Beauty Trading Down 0.7 %

NASDAQ:ULTA opened at $532.33 on Monday. Ulta Beauty has a twelve month low of $368.02 and a twelve month high of $574.76. The firm has a market cap of $25.85 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31. The company has a 50-day moving average of $519.68 and a 200-day moving average of $456.96.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last posted its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating analysts’ consensus estimates of $7.49 by $0.59. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.53 billion. Ulta Beauty had a net margin of 11.52% and a return on equity of 63.51%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $6.68 earnings per share. On average, research analysts forecast that Ulta Beauty will post 27.06 earnings per share for the current year.

Ulta Beauty declared that its Board of Directors has approved a stock repurchase program on Thursday, March 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty retailer to purchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Ulta Beauty by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 284,442 shares of the specialty retailer’s stock valued at $113,620,000 after buying an additional 2,126 shares during the last quarter. AXQ Capital LP acquired a new position in shares of Ulta Beauty in the 3rd quarter valued at approximately $879,000. First Hawaiian Bank grew its position in shares of Ulta Beauty by 56.5% in the 4th quarter. First Hawaiian Bank now owns 6,769 shares of the specialty retailer’s stock valued at $3,317,000 after purchasing an additional 2,444 shares during the period. Raleigh Capital Management Inc. lifted its stake in Ulta Beauty by 4.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 535 shares of the specialty retailer’s stock valued at $214,000 after acquiring an additional 22 shares in the last quarter. Finally, Chase Investment Counsel Corp bought a new stake in Ulta Beauty in the 3rd quarter valued at approximately $742,000. 92.30% of the stock is owned by 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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