Ulta Magnificence (NASDAQ:ULTA) Worth Goal Raised to $540.00

Daily SF NewsMarch 18, 2024

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Ulta Beauty (NASDAQ:ULTA – Free Report) had its price target lifted by Loop Capital from $530.00 to $540.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a hold rating on the specialty retailer’s stock.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. raised their price target on Ulta Beauty from $535.00 to $600.00 and gave the company an overweight rating in a research note on Thursday, February 15th. UBS Group raised their target price on shares of Ulta Beauty from $575.00 to $690.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Ulta Beauty from $574.00 to $627.00 in a research report on Friday. DA Davidson lifted their price objective on shares of Ulta Beauty from $495.00 to $530.00 and gave the company a buy rating in a report on Friday, December 1st. Finally, Raymond James upped their target price on Ulta Beauty from $575.00 to $630.00 and gave the stock a strong-buy rating in a report on Monday. One investment 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $579.81.

Read Our Latest Report on Ulta Beauty

Ulta Beauty Trading Down 0.7 %

NASDAQ:ULTA opened at $532.33 on Friday. The company has a market cap of $25.85 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31. Ulta Beauty has a twelve month low of $368.02 and a twelve month high of $574.76. The stock has a fifty day simple moving average of $519.68 and a 200-day simple moving average of $456.96.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last announced its quarterly earnings data 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 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 analyst estimates of $3.53 billion. During the same quarter last year, the business posted $6.68 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts predict that Ulta Beauty will post 27.06 EPS for the current fiscal year.

Ulta Beauty declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Ulta Beauty

Institutional investors and hedge funds have recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Ulta Beauty during the 4th quarter valued at approximately $25,000. Coppell Advisory Solutions LLC acquired a new position in shares of Ulta Beauty in the 2nd quarter valued at about $26,000. Vima LLC purchased a new stake in shares of Ulta Beauty in the fourth quarter worth about $27,000. Ancora Advisors LLC acquired a new position in Ulta Beauty in the first quarter valued at approximately $31,000. Finally, Fortis Capital Advisors LLC acquired a new position in Ulta Beauty in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 92.30% of the company’s stock.

Ulta Beauty Company Profile

(Get Free Report)

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.