Ulta Beauty, Inc. (NASDAQ:ULTA) Receives $507.30 Consensus Price Target from Brokerages

Shares of Ulta Beauty, Inc. (NASDAQ:ULTAGet Free Report) have received an average recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $507.30.

Several brokerages have recently issued reports on ULTA. UBS Group raised their target price on 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 raised their target price on Ulta Beauty from $574.00 to $627.00 in a research report on Friday, March 15th. Wells Fargo & Company decreased their price objective on Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating for the company in a report on Wednesday, April 24th. Raymond James decreased their price objective on Ulta Beauty from $630.00 to $610.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 3rd. Finally, Morgan Stanley lifted their price objective on Ulta Beauty from $480.00 to $525.00 and gave the stock an “equal weight” rating in a report on Friday, March 15th.

Read Our Latest Analysis on ULTA

Institutional Trading of Ulta Beauty

A number of hedge funds have recently bought and sold shares of the company. Morgan Stanley lifted its position in Ulta Beauty by 56.7% in the third quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock valued at $614,568,000 after purchasing an additional 556,809 shares during the last quarter. Northern Trust Corp lifted its position in Ulta Beauty by 3.9% in the third quarter. Northern Trust Corp now owns 575,658 shares of the specialty retailer’s stock valued at $229,947,000 after purchasing an additional 21,828 shares during the last quarter. Invesco Ltd. lifted its position in Ulta Beauty by 6.2% in the third quarter. Invesco Ltd. now owns 570,913 shares of the specialty retailer’s stock valued at $228,051,000 after purchasing an additional 33,508 shares during the last quarter. TD Asset Management Inc lifted its position in Ulta Beauty by 33.6% in the first quarter. TD Asset Management Inc now owns 544,072 shares of the specialty retailer’s stock valued at $284,484,000 after purchasing an additional 136,725 shares during the last quarter. Finally, Norges Bank bought a new stake in Ulta Beauty in the fourth quarter valued at approximately $263,192,000. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Trading Up 1.4 %

Shares of NASDAQ:ULTA opened at $383.85 on Wednesday. The stock’s fifty day simple moving average is $396.08 and its two-hundred day simple moving average is $466.25. Ulta Beauty has a 1-year low of $368.02 and a 1-year high of $574.76. The stock has a market cap of $18.32 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.65 and a beta of 1.36.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last issued its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.19 by $0.28. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same period last year, the business earned $6.88 EPS. The business’s revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Ulta Beauty will post 25.76 earnings per share for the current fiscal year.

Ulta Beauty announced that its board has authorized a share buyback program on Thursday, March 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Ulta Beauty Company Profile

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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.

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Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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