Ulta Beauty (NASDAQ:ULTA) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of Ulta Beauty, Inc. (NASDAQ:ULTA) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $381.74 and traded as high as $441.00. Ulta Beauty shares last traded at $434.93, with a volume of 475,024 shares trading hands.

Wall Street Analyst Weigh In

ULTA has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of Ulta Beauty from $472.00 to $480.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Wells Fargo & Company increased their target price on shares of Ulta Beauty from $300.00 to $350.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Piper Sandler boosted their price target on shares of Ulta Beauty from $357.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Canaccord Genuity Group raised their price objective on Ulta Beauty from $442.00 to $476.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Telsey Advisory Group boosted their target price on Ulta Beauty from $450.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $439.30.

Ulta Beauty Price Performance

The firm has a 50-day moving average of $395.10 and a 200 day moving average of $382.11. The stock has a market capitalization of $19.90 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.38 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, beating the consensus estimate of $4.45 by $0.69. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $5.07 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts forecast that Ulta Beauty, Inc. will post 23.57 earnings per share for the current year.

Hedge Funds Weigh In On Ulta Beauty

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its holdings in shares of 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 purchasing an additional 1,237,884 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Ulta Beauty in the 3rd quarter valued at about $359,480,000. Holocene Advisors LP raised its holdings in Ulta Beauty by 3,246.2% in the 3rd quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock valued at $134,737,000 after acquiring an additional 335,914 shares during the period. Atreides Management LP acquired a new stake in Ulta Beauty during the third quarter worth approximately $73,069,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Ulta Beauty by 87.3% during the second quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock worth $130,380,000 after acquiring an additional 157,497 shares during the period. 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.