Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, Piper Sandler Analyst Says

Ulta Beauty (NASDAQ:ULTA) had its target price raised by equities research analysts at Piper Sandler from $357.00 to $360.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. Piper Sandler’s target price suggests a potential downside of 8.64% from the stock’s current price.

ULTA has been the subject of a number of other research reports. William Blair lowered shares of Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. Canaccord Genuity Group raised their price target on Ulta Beauty from $442.00 to $476.00 and gave the stock a “buy” rating in a research note on Tuesday. B. Riley began coverage on Ulta Beauty in a report on Tuesday, September 10th. They set a “sell” rating and a $300.00 price target for the company. Stifel Nicolaus increased their price objective on Ulta Beauty from $385.00 to $395.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Barclays lifted their target price on shares of Ulta Beauty from $328.00 to $335.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $421.71.

Ulta Beauty Price Performance

Ulta Beauty stock traded up $7.42 during mid-day trading on Tuesday, hitting $394.06. The company’s stock had a trading volume of 1,215,170 shares, compared to its average volume of 911,348. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76. The company has a market cap of $18.57 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 2.22 and a beta of 1.33. The firm’s 50 day moving average is $374.13 and its 200 day moving average is $376.13.

Institutional Investors Weigh In On Ulta Beauty

Several institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in Ulta Beauty by 180,713.0% in the third quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock valued at $481,952,000 after acquiring an additional 1,237,884 shares during the period. Geode Capital Management LLC raised its holdings in shares of Ulta Beauty by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,188,730 shares of the specialty retailer’s stock worth $461,059,000 after buying an additional 10,153 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of Ulta Beauty during the 3rd quarter worth approximately $359,480,000. TD Asset Management Inc boosted its stake in Ulta Beauty by 14.1% in the 2nd quarter. TD Asset Management Inc now owns 620,793 shares of the specialty retailer’s stock valued at $239,545,000 after buying an additional 76,721 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its stake in Ulta Beauty by 5.4% during the third quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock worth $237,519,000 after acquiring an additional 31,540 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Company Profile

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.