Oppenheimer Raises Ulta Beauty (NASDAQ:ULTA) Price Target to $505.00

Ulta Beauty (NASDAQ:ULTA) had its target price lifted by analysts at Oppenheimer from $435.00 to $505.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the specialty retailer’s stock. Oppenheimer’s target price points to a potential upside of 17.45% from the company’s current price.

ULTA has been the subject of a number of other reports. Citigroup boosted their price target on shares of Ulta Beauty from $345.00 to $390.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. DA Davidson dropped their price target on shares of Ulta Beauty from $507.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. B. Riley initiated coverage on shares of Ulta Beauty in a research report on Tuesday, September 10th. They set a “sell” rating and a $300.00 target price on the stock. Telsey Advisory Group upped their target price on shares of Ulta Beauty from $450.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Canaccord Genuity Group increased their price target on shares of Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Ulta Beauty presently has a consensus rating of “Hold” and an average target price of $431.63.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA traded up $37.11 during trading hours on Friday, hitting $429.98. 1,644,011 shares of the company’s stock traded hands, compared to its average volume of 974,332. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76. The firm has a market capitalization of $20.26 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 2.27 and a beta of 1.32. The business has a fifty day moving average price of $373.67 and a 200-day moving average price 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. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm earned $5.07 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities analysts predict that Ulta Beauty will post 23.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of Ulta Beauty by 83.3% during the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 30 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Ulta Beauty during the second quarter valued at approximately $32,000. Paladin Wealth LLC bought a new stake in shares of Ulta Beauty during the third quarter valued at approximately $32,000. Westside Investment Management Inc. boosted its holdings in Ulta Beauty by 151.5% in the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 50 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Ulta Beauty by 118.4% in the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 45 shares in the last quarter. Institutional investors 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.