Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $476.00

Ulta Beauty (NASDAQ:ULTA) had its target price increased by Canaccord Genuity Group from $442.00 to $476.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 20.79% from the company’s previous close.

ULTA has been the topic of a number of other research reports. The Goldman Sachs Group lowered their price objective on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Ulta Beauty from $426.00 to $424.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Barclays lifted their price objective on shares of Ulta Beauty from $328.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. DA Davidson decreased their price objective on shares of Ulta Beauty from $507.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Finally, BMO Capital Markets set a $385.00 price objective on shares of Ulta Beauty in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $421.58.

Ulta Beauty Trading Up 1.9 %

ULTA traded up $7.42 during midday trading on Tuesday, reaching $394.06. The company’s stock had a trading volume of 1,215,170 shares, compared to its average volume of 911,348. The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 2.22 and a beta of 1.33. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76. The stock’s 50-day moving average is $374.13 and its 200-day moving average is $376.13.

Institutional Trading of Ulta Beauty

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. boosted its holdings 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 acquiring an additional 30 shares during the period. Innealta Capital LLC bought a new stake in shares of Ulta Beauty in the 2nd quarter valued at approximately $32,000. Paladin Wealth LLC bought a new stake in shares of Ulta Beauty in the 3rd quarter valued at approximately $32,000. Westside Investment Management Inc. boosted its position in Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 50 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in Ulta Beauty by 118.4% during the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 45 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.