Ulta Beauty (NASDAQ:ULTA) Price Target Lowered to $325.00 at Wells Fargo & Company

Ulta Beauty (NASDAQ:ULTA) had its price target decreased by research analysts at Wells Fargo & Company from $350.00 to $325.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 11.26% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Citigroup dropped their target price on shares of Ulta Beauty from $485.00 to $400.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Oppenheimer cut their target price on shares of Ulta Beauty from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Monday, July 15th. Evercore ISI decreased their target price on Ulta Beauty from $630.00 to $500.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Barclays dropped their price target on Ulta Beauty from $394.00 to $355.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. Finally, Jefferies Financial Group decreased their price objective on Ulta Beauty from $438.00 to $412.00 and set a “hold” rating for the company in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $497.61.

Ulta Beauty Price Performance

Shares of ULTA traded down $23.04 during trading hours on Wednesday, hitting $366.25. 815,027 shares of the company were exchanged, compared to its average volume of 805,342. The company has a market capitalization of $17.48 billion, a PE ratio of 14.36, a PEG ratio of 1.81 and a beta of 1.37. The firm has a fifty day simple moving average of $389.70 and a 200-day simple moving average of $452.35. Ulta Beauty has a one year low of $365.64 and a one year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 EPS for the quarter, beating the consensus estimate of $6.19 by $0.28. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.72 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. Ulta Beauty’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $6.88 earnings per share. Sell-side analysts expect that Ulta Beauty will post 25.7 EPS for the current year.

Insider Buying and Selling at Ulta Beauty

In related news, insider Jodi J. Caro sold 650 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total transaction of $252,642.00. Following the completion of the sale, the insider now directly owns 6,801 shares of the company’s stock, valued at approximately $2,643,412.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ulta Beauty news, Director Catherine Ann Halligan sold 100 shares of Ulta Beauty stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total value of $39,008.00. Following the transaction, the director now directly owns 2,017 shares of the company’s stock, valued at approximately $786,791.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jodi J. Caro sold 650 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total value of $252,642.00. Following the transaction, the insider now owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Ulta Beauty

Hedge funds and other institutional investors have recently modified their holdings of the stock. 1832 Asset Management L.P. grew its position in Ulta Beauty by 120.2% in the 4th quarter. 1832 Asset Management L.P. now owns 14,448 shares of the specialty retailer’s stock worth $7,079,000 after purchasing an additional 7,887 shares during the last quarter. Duality Advisers LP grew its position in Ulta Beauty by 92.8% during the first quarter. Duality Advisers LP now owns 7,278 shares of the specialty retailer’s stock worth $3,806,000 after buying an additional 3,504 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Ulta Beauty during the fourth quarter valued at about $1,810,000. Illinois Municipal Retirement Fund raised its holdings in Ulta Beauty by 6.5% in the 4th quarter. Illinois Municipal Retirement Fund now owns 27,037 shares of the specialty retailer’s stock valued at $13,248,000 after acquiring an additional 1,662 shares in the last quarter. Finally, Warther Private Wealth LLC bought a new stake in shares of Ulta Beauty in the 4th quarter worth approximately $6,023,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

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.