Ulta Beauty (NASDAQ:ULTA – Free Report) had its price target decreased by Evercore ISI from $656.00 to $635.00 in a research note issued to investors on Friday.
Several other equities research analysts have also issued reports on ULTA. Piper Sandler lifted their price target on shares of Ulta Beauty from $540.00 to $572.00 and gave the company an overweight rating in a report on Friday, December 1st. DA Davidson boosted their price target on shares of Ulta Beauty from $495.00 to $530.00 and gave the stock a buy rating in a research report on Friday, December 1st. Telsey Advisory Group restated an outperform rating and issued a $600.00 price target on shares of Ulta Beauty in a research report on Monday, November 27th. Wells Fargo & Company boosted their target price on shares of Ulta Beauty from $375.00 to $400.00 and gave the company an underweight rating in a research report on Friday, December 1st. Finally, Loop Capital downgraded shares of Ulta Beauty from a buy rating to a hold rating and set a $530.00 target price on the stock. in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ulta Beauty currently has a consensus rating of Moderate Buy and an average price target of $546.90.
View Our Latest Stock Report on Ulta Beauty
Ulta Beauty Stock Down 5.2 %
Shares of Ulta Beauty stock opened at $535.98 on Friday. Ulta Beauty has a twelve month low of $368.02 and a twelve month high of $574.76. The company has a 50-day simple moving average of $518.69 and a two-hundred day simple moving average of $455.62. The stock has a market capitalization of $26.03 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating the consensus estimate of $7.49 by $0.59. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.53 billion. Ulta Beauty had a net margin of 11.37% and a return on equity of 61.42%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $6.68 EPS. On average, sell-side analysts anticipate that Ulta Beauty will post 25.46 earnings per share for the current fiscal year.
Ulta Beauty announced that its board has approved a stock buyback plan on Thursday, March 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 7.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
Institutional Investors Weigh In On Ulta Beauty
Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ulta Beauty by 125.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,530,543 shares of the specialty retailer’s stock worth $717,932,000 after buying an additional 852,258 shares in the last quarter. Morgan Stanley grew its position in Ulta Beauty by 56.7% during the third quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock valued at $614,568,000 after acquiring an additional 556,809 shares during the last quarter. Norges Bank bought a new position in Ulta Beauty during the fourth quarter valued at approximately $263,192,000. Voya Investment Management LLC grew its position in Ulta Beauty by 405.9% during the fourth quarter. Voya Investment Management LLC now owns 631,477 shares of the specialty retailer’s stock valued at $309,417,000 after acquiring an additional 506,645 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in Ulta Beauty during the second quarter valued at approximately $207,721,000. 92.30% of the stock is owned by hedge funds and other institutional investors.
Ulta Beauty Company Profile
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.
Further Reading
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