Ulta Beauty (NASDAQ:ULTA – Free Report) had its price objective hoisted by Morgan Stanley from $480.00 to $525.00 in a research report report published on Friday morning, Benzinga reports. They currently have an equal weight rating on the specialty retailer’s stock.
ULTA has been the topic of several other research reports. Raymond James upped their price objective on shares of Ulta Beauty from $575.00 to $630.00 and gave the company a strong-buy rating in a research note on Monday. Argus upped their target price on Ulta Beauty from $500.00 to $545.00 and gave the stock a buy rating in a research report on Wednesday, December 6th. UBS Group boosted their price target on Ulta Beauty from $575.00 to $690.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Telsey Advisory Group reiterated an outperform rating and issued a $600.00 target price on shares of Ulta Beauty in a research note on Monday, November 27th. Finally, Citigroup increased their price target on shares of Ulta Beauty from $440.00 to $485.00 and gave the stock a neutral rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ulta Beauty presently has a consensus rating of Moderate Buy and a consensus price target of $579.81.
Read Our Latest Stock Report on ULTA
Ulta Beauty Stock Performance
Shares of NASDAQ:ULTA opened at $532.33 on Friday. The company has a market capitalization of $25.85 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31. The stock has a fifty day moving average of $519.68 and a 200-day moving average of $456.96. Ulta Beauty has a one year low of $368.02 and a one year high of $574.76.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share for the quarter, beating analysts’ consensus estimates of $7.49 by $0.59. Ulta Beauty had a return on equity of 63.51% and a net margin of 11.52%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the company posted $6.68 EPS. Ulta Beauty’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts forecast that Ulta Beauty will post 27.06 EPS for the current fiscal year.
Ulta Beauty declared that its board has initiated a stock buyback program on Thursday, March 14th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Institutional Investors Weigh In On Ulta Beauty
Institutional investors have recently added to or reduced their stakes in the stock. Wahed Invest LLC boosted its stake in Ulta Beauty by 6.5% in the 4th quarter. Wahed Invest LLC now owns 835 shares of the specialty retailer’s stock valued at $409,000 after buying an additional 51 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Ulta Beauty by 3.4% in the 4th quarter. Wellington Management Group LLP now owns 10,130 shares of the specialty retailer’s stock valued at $4,964,000 after purchasing an additional 334 shares in the last quarter. Processus Wealth & Capital Management LLC bought a new stake in shares of Ulta Beauty in the 4th quarter worth about $1,746,000. Congress Asset Management Co. MA lifted its holdings in Ulta Beauty by 0.5% during the 4th quarter. Congress Asset Management Co. MA now owns 255,014 shares of the specialty retailer’s stock valued at $124,954,000 after purchasing an additional 1,158 shares during the last quarter. Finally, Vima LLC bought a new position in Ulta Beauty during the 4th quarter valued at about $27,000. 92.30% of the stock is owned by institutional investors and hedge funds.
About Ulta Beauty
Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.
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