Ulta Beauty (NASDAQ:ULTA) Earns “Buy” Rating from DA Davidson

Ulta Beauty (NASDAQ:ULTA)‘s stock had its “buy” rating reissued by investment analysts at DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $415.00 price objective on the specialty retailer’s stock. DA Davidson’s target price would suggest a potential upside of 16.00% from the stock’s current price.

A number of other equities analysts have also recently issued reports on ULTA. Piper Sandler cut their target price on shares of Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Ulta Beauty in a research note on Monday, March 10th. The Goldman Sachs Group raised Ulta Beauty from a “neutral” rating to a “buy” rating and raised their price target for the stock from $384.00 to $423.00 in a research report on Tuesday, April 1st. BMO Capital Markets reduced their price objective on Ulta Beauty from $467.00 to $404.00 and set a “market perform” rating on the stock in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. dropped their price objective on Ulta Beauty from $480.00 to $475.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Ulta Beauty has a consensus rating of “Hold” and an average price target of $427.61.

Ulta Beauty Trading Up 2.3 %

Shares of Ulta Beauty stock opened at $357.75 on Wednesday. The company has a 50-day moving average of $357.49 and a two-hundred day moving average of $382.41. The stock has a market cap of $16.21 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. Ulta Beauty has a 12-month low of $309.01 and a 12-month high of $460.00.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.13 by $1.33. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. Ulta Beauty’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $8.08 earnings per share. On average, sell-side analysts forecast that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Insider Buying and Selling at Ulta Beauty

In related news, insider Jodi J. Caro sold 902 shares of Ulta Beauty stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the transaction, the insider now owns 7,632 shares in the company, valued at approximately $2,817,429.12. The trade was a 10.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Prestige Wealth Management Group LLC grew its stake in shares of Ulta Beauty by 121.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 34 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of Ulta Beauty during the first quarter valued at approximately $29,000. Westside Investment Management Inc. lifted its position in shares of Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 50 shares in the last quarter. Edge Capital Group LLC purchased a new position in shares of Ulta Beauty in the fourth quarter valued at $33,000. Finally, North Star Investment Management Corp. grew its holdings in Ulta Beauty by 71.4% during the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 40 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

About Ulta Beauty

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.