Ulta Beauty (NASDAQ:ULTA) has been assigned a $270.00 price objective by analysts at Buckingham Research in a research report issued to clients and investors on Monday, March 12th. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Buckingham Research’s price objective suggests a potential upside of 29.65% from the company’s current price.
Several other equities research analysts have also weighed in on ULTA. Vetr upgraded shares of Ulta Beauty from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 27th. Piper Jaffray set a $206.00 target price on shares of Ulta Beauty and gave the stock a “hold” rating in a report on Thursday, November 30th. Jefferies Group reiterated a “positive” rating and issued a $221.64 target price (down from $300.00) on shares of Ulta Beauty in a report on Tuesday, December 5th. Royal Bank of Canada set a $225.00 target price on shares of Ulta Beauty and gave the stock a “hold” rating in a report on Friday, December 1st. Finally, Oppenheimer restated a “hold” rating on shares of Ulta Beauty in a report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $250.64.
Shares of ULTA traded up $1.34 during mid-day trading on Monday, hitting $208.26. 1,237,630 shares of the company traded hands, compared to its average volume of 1,291,676. Ulta Beauty has a one year low of $187.96 and a one year high of $314.86. The stock has a market capitalization of $12,505.33, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 1.07 and a beta of 0.68.
Ulta Beauty announced that its Board of Directors has approved a stock repurchase program on Thursday, March 15th that authorizes the company to buyback $625.00 million in shares. This buyback authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Several hedge funds have recently made changes to their positions in ULTA. CI Global Investments Inc. bought a new stake in shares of Ulta Beauty during the 4th quarter worth about $135,756,000. Ameriprise Financial Inc. boosted its holdings in shares of Ulta Beauty by 58.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,390,665 shares of the specialty retailer’s stock worth $314,378,000 after buying an additional 512,315 shares during the period. HS Management Partners LLC boosted its holdings in shares of Ulta Beauty by 208.7% during the 4th quarter. HS Management Partners LLC now owns 699,365 shares of the specialty retailer’s stock worth $156,420,000 after buying an additional 472,850 shares during the period. Millennium Management LLC boosted its holdings in shares of Ulta Beauty by 1,094.2% during the 4th quarter. Millennium Management LLC now owns 362,115 shares of the specialty retailer’s stock worth $80,991,000 after buying an additional 331,792 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Ulta Beauty by 111.3% during the 4th quarter. TIAA CREF Investment Management LLC now owns 591,905 shares of the specialty retailer’s stock worth $132,385,000 after buying an additional 311,725 shares during the period. 91.98% of the stock is owned by institutional investors and hedge funds.
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Ulta Beauty Company Profile
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores provide cosmetics, fragrance, skincare, haircare, bath and body products, and salon styling tools, as well as others, including nail products and accessories. It offers private label products consisting of Ulta Beauty Collection branded cosmetics, skincare, and bath products.
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