Stifel Nicolaus Cuts Ulta Beauty (NASDAQ:ULTA) Price Target to $400.00

Ulta Beauty (NASDAQ:ULTA) had its price target cut by Stifel Nicolaus from $475.00 to $400.00 in a research note released on Friday morning,Benzinga reports. They currently have a hold rating on the specialty retailer’s stock.

A number of other research firms have also weighed in on ULTA. Piper Sandler cut their target price on shares of Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a research report on Friday. Barclays raised their price target on Ulta Beauty from $410.00 to $445.00 and gave the company an “equal weight” rating in a research report on Thursday, January 9th. DA Davidson raised their price target on Ulta Beauty from $435.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, December 6th. William Blair downgraded Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Finally, Canaccord Genuity Group raised their price target on Ulta Beauty from $500.00 to $538.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $431.13.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA opened at $357.48 on Friday. The business’s 50-day simple moving average is $385.01 and its 200-day simple moving average is $386.94. Ulta Beauty has a 52 week low of $309.01 and a 52 week high of $544.36. The firm has a market cap of $16.58 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 0.89 and a beta of 1.34.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, beating the consensus estimate of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the company posted $8.08 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that Ulta Beauty will post 23.96 earnings per share for the current year.

Hedge Funds Weigh In On Ulta Beauty

Institutional investors have recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC lifted its holdings in Ulta Beauty by 121.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 34 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in Ulta Beauty by 118.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 45 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in Ulta Beauty by 151.5% during the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 50 shares during the last quarter. Edge Capital Group LLC bought a new position in shares of Ulta Beauty in the fourth quarter worth about $33,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Ulta Beauty in the third quarter worth about $41,000. 90.39% of the stock is owned by institutional investors.

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.