Bank of America Cuts Ulta Beauty (NASDAQ:ULTA) Price Target to $380.00

Ulta Beauty (NASDAQ:ULTA) had its price target trimmed by Bank of America from $475.00 to $380.00 in a report published on Friday,Benzinga reports. The firm currently has a neutral rating on the specialty retailer’s stock.

Several other research analysts have also commented on ULTA. Wells Fargo & Company upped their price objective on shares of Ulta Beauty from $350.00 to $370.00 and gave the stock an “underweight” rating in a report on Tuesday, January 7th. Piper Sandler upped their price objective on shares of Ulta Beauty from $390.00 to $394.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. TD Cowen upped their price objective on shares of Ulta Beauty from $450.00 to $480.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. DA Davidson upped their target price on shares of Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, BMO Capital Markets upped their target price on shares of Ulta Beauty from $385.00 to $420.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Ulta Beauty presently has an average rating of “Hold” and a consensus target price of $431.13.

Ulta Beauty Stock Up 13.7 %

NASDAQ:ULTA opened at $357.48 on Friday. The company has a fifty day moving average of $385.01 and a 200 day moving average of $386.94. Ulta Beauty has a 52 week low of $309.01 and a 52 week high of $544.36. The firm has a market capitalization of $16.58 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.89 and a beta of 1.34.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, beating analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the business posted $8.08 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. As a group, analysts anticipate that Ulta Beauty will post 23.96 EPS for the current year.

Hedge Funds Weigh In On Ulta Beauty

Several hedge funds and other institutional investors have recently bought and sold shares of ULTA. Capital World Investors bought a new position in Ulta Beauty during the 4th quarter valued at about $430,674,000. Ontario Teachers Pension Plan Board bought a new position in Ulta Beauty during the 3rd quarter valued at about $359,480,000. Norges Bank bought a new position in Ulta Beauty during the 4th quarter valued at about $239,432,000. Marshall Wace LLP lifted its stake in Ulta Beauty by 10,336.7% during the 4th quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer’s stock valued at $199,681,000 after acquiring an additional 454,711 shares during the period. Finally, Holocene Advisors LP lifted its stake in Ulta Beauty by 3,246.2% during 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. 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.