Ulta Beauty (NASDAQ:ULTA) Rating Lowered to Hold at TD Cowen

TD Cowen downgraded shares of Ulta Beauty (NASDAQ:ULTA) from a buy rating to a hold rating in a report published on Monday morning, Marketbeat Ratings reports. They currently have $395.00 target price on the specialty retailer’s stock.

Other research analysts also recently issued research reports about the stock. Raymond James downgraded shares of Ulta Beauty from a strong-buy rating to an outperform rating and decreased their price objective for the company from $500.00 to $450.00 in a research report on Friday, August 30th. Loop Capital reduced their price target on Ulta Beauty from $520.00 to $450.00 and set a buy rating for the company in a report on Tuesday, September 3rd. Stifel Nicolaus dropped their price objective on Ulta Beauty from $475.00 to $385.00 and set a hold rating on the stock in a research note on Friday, August 30th. DA Davidson reduced their target price on Ulta Beauty from $507.00 to $435.00 and set a buy rating for the company in a research note on Friday, August 30th. Finally, Bank of America dropped their price target on Ulta Beauty from $425.00 to $380.00 and set a neutral rating on the stock in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Ulta Beauty presently has an average rating of Hold and an average target price of $425.29.

Ulta Beauty Price Performance

Ulta Beauty stock opened at $406.11 on Monday. The firm has a 50-day moving average of $367.88 and a 200-day moving average of $404.90. The company has a market cap of $19.14 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 2.30 and a beta of 1.31. Ulta Beauty has a one year low of $318.17 and a one year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.02 earnings per share. As a group, sell-side analysts expect that Ulta Beauty will post 23.21 earnings per share for the current year.

Insider Activity

In other news, Director Catherine Ann Halligan sold 100 shares of Ulta Beauty stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total transaction of $39,008.00. Following the transaction, the director now owns 2,017 shares in the company, valued at $786,791.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.39% of the stock is currently owned by insiders.

Institutional Trading of Ulta Beauty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ULTA. Janiczek Wealth Management LLC boosted its stake in shares of Ulta Beauty by 32.5% in the 1st quarter. Janiczek Wealth Management LLC now owns 102 shares of the specialty retailer’s stock valued at $53,000 after purchasing an additional 25 shares during the last quarter. Commerce Bank boosted its position in Ulta Beauty by 1.0% during the fourth quarter. Commerce Bank now owns 2,742 shares of the specialty retailer’s stock valued at $1,344,000 after acquiring an additional 26 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in Ulta Beauty by 5.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 478 shares of the specialty retailer’s stock worth $250,000 after acquiring an additional 26 shares during the period. Sage Capital Advisors llc raised its position in shares of Ulta Beauty by 5.4% in the 2nd quarter. Sage Capital Advisors llc now owns 525 shares of the specialty retailer’s stock worth $203,000 after acquiring an additional 27 shares in the last quarter. Finally, Wedmont Private Capital raised its position in shares of Ulta Beauty by 2.9% in the 1st quarter. Wedmont Private Capital now owns 993 shares of the specialty retailer’s stock worth $519,000 after acquiring an additional 28 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

About Ulta Beauty

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.