Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $538.00

Ulta Beauty (NASDAQ:ULTAFree Report) had its target price increased by Canaccord Genuity Group from $500.00 to $538.00 in a report published on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the specialty retailer’s stock.

Several other research analysts have also weighed in on the company. Citigroup upped their price target on Ulta Beauty from $390.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Raymond James decreased their price target on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a report on Monday, October 14th. B. Riley upgraded Ulta Beauty from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $330.00 to $430.00 in a report on Tuesday. TD Cowen reduced their price objective on shares of Ulta Beauty from $390.00 to $380.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Finally, DA Davidson upped their price target on Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $460.30.

View Our Latest Analysis on ULTA

Ulta Beauty Price Performance

Shares of ULTA opened at $415.14 on Tuesday. The company has a 50-day moving average of $401.20 and a two-hundred day moving average of $383.86. The stock has a market cap of $19.25 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 2.38 and a beta of 1.28. Ulta Beauty has a one year low of $318.17 and a one year high of $574.76.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last posted its quarterly earnings data on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business posted $5.07 EPS. The company’s revenue was up 1.7% on a year-over-year basis. Analysts anticipate that Ulta Beauty will post 23.57 earnings per share for the current year.

Hedge Funds Weigh In On Ulta Beauty

Hedge funds have recently modified their holdings of the stock. Choreo LLC grew its position in Ulta Beauty by 71.7% in the second quarter. Choreo LLC now owns 2,868 shares of the specialty retailer’s stock valued at $1,103,000 after acquiring an additional 1,198 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Ulta Beauty in the 2nd quarter worth about $19,136,000. Jensen Investment Management Inc. increased its position in shares of Ulta Beauty by 17.9% during the 3rd quarter. Jensen Investment Management Inc. now owns 11,330 shares of the specialty retailer’s stock worth $4,409,000 after purchasing an additional 1,720 shares in the last quarter. Distillate Capital Partners LLC bought a new position in Ulta Beauty during the 2nd quarter valued at about $14,665,000. Finally, Versor Investments LP acquired a new position in Ulta Beauty in the third quarter valued at about $793,000. 90.39% of the stock is owned by institutional investors and hedge funds.

About Ulta Beauty

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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.

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