Ulta Beauty (NASDAQ:ULTA – Free Report) had its target price lifted by Raymond James from $575.00 to $630.00 in a research note published on Monday, Benzinga reports. Raymond James currently has a strong-buy rating on the specialty retailer’s stock.
A number of other research analysts have also recently weighed in on the stock. Piper Sandler raised their price objective on shares of Ulta Beauty from $540.00 to $572.00 and gave the stock an overweight rating in a research note on Friday, December 1st. Wells Fargo & Company raised their target price on shares of Ulta Beauty from $375.00 to $400.00 and gave the stock an underweight rating in a research report on Friday, December 1st. Argus raised their target price on shares of 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 raised their target price on shares of Ulta Beauty from $575.00 to $690.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Ulta Beauty from $574.00 to $627.00 in a research report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Ulta Beauty has a consensus rating of Moderate Buy and an average price target of $579.81.
View Our Latest Stock Report on ULTA
Ulta Beauty Stock Down 0.7 %
Shares of NASDAQ:ULTA opened at $532.33 on Monday. The company has a market cap of $25.85 billion, a P/E ratio of 20.43, a PEG ratio of 2.35 and a beta of 1.31. Ulta Beauty has a 52 week low of $368.02 and a 52 week high of $574.76. The company has a 50-day moving average price of $519.68 and a 200 day moving average price of $456.96.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last issued its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.49 by $0.59. Ulta Beauty had a net margin of 11.52% and a return on equity of 63.51%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period last year, the company posted $6.68 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts expect that Ulta Beauty will post 27.06 EPS for the current year.
Ulta Beauty declared that its board has initiated a share repurchase plan on Thursday, March 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty retailer to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ulta Beauty in the 4th quarter worth approximately $25,000. Coppell Advisory Solutions LLC bought a new stake in Ulta Beauty in the second quarter worth approximately $26,000. Loomis Sayles & Co. L P grew its position in Ulta Beauty by 364.3% in the third quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 51 shares in the last quarter. Vima LLC bought a new stake in shares of Ulta Beauty during the 4th quarter worth $27,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Ulta Beauty by 59.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 26 shares during the period. 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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