Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $515.00 at Oppenheimer

Ulta Beauty (NASDAQ:ULTA) had its target price hoisted by Oppenheimer from $505.00 to $515.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the specialty retailer’s stock.

ULTA has been the subject of a number of other research reports. Canaccord Genuity Group lifted their target price on shares of Ulta Beauty from $442.00 to $476.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Barclays lifted their price objective on Ulta Beauty from $335.00 to $410.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Wells Fargo & Company upped their price objective on Ulta Beauty from $300.00 to $350.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. TD Cowen cut their price target on 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, Raymond James reduced their price target on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $454.43.

Ulta Beauty Trading Down 0.7 %

ULTA stock opened at $428.27 on Tuesday. The stock’s 50 day simple moving average is $399.50 and its 200 day simple moving average is $383.42. Ulta Beauty has a 12-month low of $318.17 and a 12-month high of $574.76. The stock has a market capitalization of $19.86 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 2.38 and a beta of 1.28.

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

Hedge Funds Weigh In On Ulta Beauty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its holdings in Ulta Beauty by 4.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 627 shares of the specialty retailer’s stock valued at $244,000 after acquiring an additional 28 shares during the last quarter. Brighton Jones LLC grew its position in shares of Ulta Beauty by 1.8% during the second quarter. Brighton Jones LLC now owns 1,826 shares of the specialty retailer’s stock valued at $705,000 after purchasing an additional 33 shares in the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Ulta Beauty by 3.0% in the second quarter. Daymark Wealth Partners LLC now owns 1,221 shares of the specialty retailer’s stock worth $471,000 after purchasing an additional 36 shares during the last quarter. Trust Investment Advisors lifted its position in shares of Ulta Beauty by 2.5% in the second quarter. Trust Investment Advisors now owns 1,491 shares of the specialty retailer’s stock worth $575,000 after buying an additional 37 shares in the last quarter. Finally, Global Trust Asset Management LLC boosted its stake in Ulta Beauty by 39.6% during the third quarter. Global Trust Asset Management LLC now owns 141 shares of the specialty retailer’s stock valued at $55,000 after buying an additional 40 shares during the last quarter. 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.