Ulta Beauty’s (ULTA) “Outperform” Rating Reaffirmed at Oppenheimer

Ulta Beauty (NASDAQ:ULTA)‘s stock had its “outperform” rating reissued by equities researchers at Oppenheimer in a report released on Wednesday, Benzinga reports. They presently have a $435.00 target price on the specialty retailer’s stock. Oppenheimer’s price target would indicate a potential upside of 20.18% from the company’s previous close.

Several other research analysts have also weighed in on ULTA. Piper Sandler reiterated a “neutral” rating and set a $356.00 price objective (down from $404.00) on shares of Ulta Beauty in a report on Friday, August 30th. TD Cowen dropped their price objective on Ulta Beauty from $395.00 to $390.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Evercore ISI lowered their price target on Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, August 26th. Raymond James cut their price objective on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Bank of America decreased their target price on Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating for the company in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $423.67.

Ulta Beauty Stock Performance

NASDAQ ULTA traded down $7.53 during mid-day trading on Wednesday, reaching $361.96. 1,978,582 shares of the stock were exchanged, compared to its average volume of 964,258. The stock has a market capitalization of $17.27 billion, a PE ratio of 14.12, a PEG ratio of 2.05 and a beta of 1.32. Ulta Beauty has a 1-year low of $318.17 and a 1-year high of $574.76. The business’s fifty day simple moving average is $371.05 and its 200 day simple moving average is $388.66.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.17). The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. Ulta Beauty’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $6.02 EPS. On average, analysts anticipate that Ulta Beauty will post 23.21 EPS for the current year.

Institutional Investors Weigh In On Ulta Beauty

Hedge funds and other institutional investors have recently modified their holdings of the stock. LaFleur & Godfrey LLC bought a new position in shares of Ulta Beauty during the third quarter worth about $723,000. BDF Gestion acquired a new stake in Ulta Beauty during the third quarter valued at approximately $2,237,000. Swedbank AB lifted its holdings in Ulta Beauty by 33.9% during the 3rd quarter. Swedbank AB now owns 321,605 shares of the specialty retailer’s stock worth $125,143,000 after buying an additional 81,414 shares during the last quarter. Creative Planning grew its position in shares of Ulta Beauty by 83.7% in the 3rd quarter. Creative Planning now owns 14,774 shares of the specialty retailer’s stock worth $5,749,000 after acquiring an additional 6,730 shares in the last quarter. Finally, Elk River Wealth Management LLC increased its holdings in shares of Ulta Beauty by 1.1% in the 3rd quarter. Elk River Wealth Management LLC now owns 7,229 shares of the specialty retailer’s stock valued at $2,813,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

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.