Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $370.00 at Wells Fargo & Company

Ulta Beauty (NASDAQ:ULTA) had its target price raised by investment analysts at Wells Fargo & Company from $350.00 to $370.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 17.23% from the stock’s current price.

Several other equities analysts have also weighed in on the company. B. Riley raised Ulta Beauty from a “sell” rating to a “neutral” rating in a research note on Tuesday. DA Davidson lifted their price objective on shares of Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Piper Sandler upped their target price on shares of Ulta Beauty from $390.00 to $394.00 and gave the company a “neutral” rating in a research note on Monday. TD Cowen cut their target price on shares of Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Finally, Citigroup boosted their price target on shares of Ulta Beauty from $390.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ulta Beauty currently has a consensus rating of “Hold” and an average target price of $442.09.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $447.00 on Tuesday. The firm has a 50 day simple moving average of $398.53 and a 200 day simple moving average of $383.10. Ulta Beauty has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The firm has a market cap of $20.73 billion, a P/E ratio of 17.89, a P/E/G ratio of 2.38 and a beta of 1.28.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.07 EPS. On average, sell-side analysts expect that Ulta Beauty will post 23.57 EPS for the current year.

Institutional Investors Weigh In On Ulta Beauty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ULTA. International Assets Investment Management LLC increased its holdings in Ulta Beauty by 180,713.0% during the third quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock worth $481,952,000 after buying an additional 1,237,884 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Ulta Beauty during the 3rd quarter worth $359,480,000. Holocene Advisors LP raised its stake in Ulta Beauty by 3,246.2% in the 3rd quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock worth $134,737,000 after purchasing an additional 335,914 shares in the last quarter. Atreides Management LP acquired a new stake in shares of Ulta Beauty in the third quarter valued at approximately $73,069,000. Finally, Hsbc Holdings PLC lifted its position in shares of Ulta Beauty by 87.3% during the 2nd quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock valued at $130,380,000 after acquiring an additional 157,497 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Company Profile

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.