Ulta Beauty (NASDAQ:ULTA) Price Target Increased to $472.00 by Analysts at JPMorgan Chase & Co.

Ulta Beauty (NASDAQ:ULTA) had its price objective raised by JPMorgan Chase & Co. from $450.00 to $472.00 in a research note published on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty retailer’s stock.

Other analysts have also recently issued reports about the company. Oppenheimer reiterated an “outperform” rating and issued a $435.00 target price on shares of Ulta Beauty in a report on Wednesday, October 16th. BMO Capital Markets set a $385.00 price objective on shares of Ulta Beauty in a research note on Thursday, October 17th. Robert W. Baird lowered their target price on shares of Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating for the company in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, Evercore ISI decreased their price target on Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Ulta Beauty has an average rating of “Hold” and an average target price of $420.71.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA opened at $367.18 on Monday. The stock has a market cap of $17.30 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 2.10 and a beta of 1.32. The firm has a 50 day moving average price of $376.31 and a two-hundred day moving average price of $384.77. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the business earned $6.02 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Analysts predict that Ulta Beauty will post 23.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

Several large investors have recently added to or reduced their stakes in the business. Janiczek Wealth Management LLC grew its position in shares of Ulta Beauty by 32.5% in the first quarter. Janiczek Wealth Management LLC now owns 102 shares of the specialty retailer’s stock valued at $53,000 after purchasing an additional 25 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in Ulta Beauty by 5.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 478 shares of the specialty retailer’s stock valued at $250,000 after buying an additional 26 shares in the last quarter. Sage Capital Advisors llc increased its position in shares of Ulta Beauty by 5.4% during the second quarter. Sage Capital Advisors llc now owns 525 shares of the specialty retailer’s stock valued at $203,000 after buying an additional 27 shares during the period. UMB Bank n.a. increased its position in shares of Ulta Beauty by 83.3% during the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 30 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Ulta Beauty by 5.0% in the second quarter. AdvisorNet Financial Inc now owns 695 shares of the specialty retailer’s stock worth $268,000 after buying an additional 33 shares in 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.