Ulta Beauty (NASDAQ:ULTA) Given New $480.00 Price Target at JPMorgan Chase & Co.

Ulta Beauty (NASDAQ:ULTA) had its price target boosted by JPMorgan Chase & Co. from $472.00 to $480.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.63% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Barclays increased their target price on Ulta Beauty from $328.00 to $335.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Robert W. Baird reduced their target price on shares of Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating for the company in a report on Friday, August 23rd. Citigroup boosted their target price on shares of Ulta Beauty from $345.00 to $390.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Piper Sandler boosted their target price on shares of Ulta Beauty from $357.00 to $360.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their target price on shares of Ulta Beauty from $395.00 to $455.00 and gave the stock a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $428.71.

Ulta Beauty Stock Up 9.4 %

ULTA stock traded up $37.11 during midday trading on Friday, hitting $429.98. The company’s stock had a trading volume of 1,644,011 shares, compared to its average volume of 974,332. Ulta Beauty has a 12 month low of $318.17 and a 12 month high of $574.76. The firm has a market capitalization of $20.26 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 2.27 and a beta of 1.32. The company has a 50 day moving average of $373.67 and a two-hundred day moving average of $376.39.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.69. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $5.07 EPS. On average, analysts anticipate that Ulta Beauty will post 23.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Ulta Beauty by 180,713.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock valued at $481,952,000 after buying an additional 1,237,884 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Ulta Beauty by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,188,730 shares of the specialty retailer’s stock worth $461,059,000 after acquiring an additional 10,153 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Ulta Beauty during the 3rd quarter worth about $359,480,000. TD Asset Management Inc raised its position in shares of Ulta Beauty by 14.1% during the 2nd quarter. TD Asset Management Inc now owns 620,793 shares of the specialty retailer’s stock worth $239,545,000 after acquiring an additional 76,721 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its position in shares of Ulta Beauty by 5.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock worth $237,519,000 after acquiring an additional 31,540 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

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.