Ulta Beauty (NASDAQ:ULTA) Price Target Cut to $526.00 by Analysts at Canaccord Genuity Group

Ulta Beauty (NASDAQ:ULTA) had its price target lowered by stock analysts at Canaccord Genuity Group from $538.00 to $526.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 49.63% from the stock’s current price.

A number of other analysts also recently weighed in on ULTA. Piper Sandler decreased their price target on Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating on the stock in a research note on Friday. TD Cowen lifted their price target on shares of Ulta Beauty from $450.00 to $480.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. BMO Capital Markets upped their price target on Ulta Beauty from $385.00 to $420.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Bank of America reduced their price objective on Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating for the company in a report on Friday. Finally, DA Davidson lowered their target price on Ulta Beauty from $510.00 to $415.00 and set a “buy” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $436.26.

Ulta Beauty Stock Up 11.8 %

NASDAQ:ULTA traded up $37.06 during midday trading on Friday, reaching $351.53. The stock had a trading volume of 1,848,664 shares, compared to its average volume of 1,040,679. The stock has a market cap of $16.30 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.89 and a beta of 1.34. Ulta Beauty has a 12-month low of $309.01 and a 12-month high of $574.76. The firm has a fifty day simple moving average of $386.49 and a two-hundred day simple moving average of $386.82.

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

Institutional Trading of Ulta Beauty

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Ulta Beauty by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,199,935 shares of the specialty retailer’s stock valued at $520,587,000 after acquiring an additional 11,205 shares during the period. Capital World Investors acquired a new stake in Ulta Beauty in the 4th quarter valued at $430,674,000. Ontario Teachers Pension Plan Board purchased a new position in Ulta Beauty in the third quarter valued at about $359,480,000. Deutsche Bank AG lifted its stake in shares of Ulta Beauty by 1.4% during the fourth quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer’s stock worth $285,123,000 after purchasing an additional 9,291 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its position in shares of Ulta Beauty by 5.4% in the third quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock worth $237,519,000 after buying an additional 31,540 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.