Citigroup Raises Ulta Beauty (NASDAQ:ULTA) Price Target to $450.00

Ulta Beauty (NASDAQ:ULTA) had its price target hoisted by Citigroup from $390.00 to $450.00 in a research note published on Friday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Other analysts also recently issued reports about the stock. Piper Sandler boosted their price target on shares of Ulta Beauty from $357.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday. DA Davidson boosted their price target on shares of Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday. Barclays boosted their price target on shares of Ulta Beauty from $335.00 to $410.00 and gave the stock an “equal weight” rating in a research note on Friday. StockNews.com raised shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Raymond James lowered 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 note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $438.00.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $428.17 on Friday. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76. The company has a market capitalization of $20.18 billion, a P/E ratio of 17.13, a P/E/G ratio of 2.30 and a beta of 1.32. The company has a fifty day moving average of $373.67 and a 200-day moving average of $376.39.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $5.07 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. As a group, analysts forecast that Ulta Beauty will post 23.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 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 acquiring an additional 30 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Ulta Beauty during the second quarter valued at $32,000. Paladin Wealth LLC purchased a new stake in shares of Ulta Beauty during the third quarter valued at $32,000. Westside Investment Management Inc. boosted its position in shares of Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 50 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Ulta Beauty by 118.4% during the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 45 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

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.