Ulta Beauty (NASDAQ:ULTA) Price Target Lowered to $345.00 at Citigroup

Ulta Beauty (NASDAQ:ULTA) had its price objective reduced by Citigroup from $375.00 to $345.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Citigroup’s price objective indicates a potential downside of 2.09% from the company’s previous close.

ULTA has been the topic of several other research reports. Piper Sandler restated a “neutral” rating and set a $356.00 price target (down previously from $404.00) on shares of Ulta Beauty in a research note on Friday. Stifel Nicolaus dropped their price target on shares of Ulta Beauty from $475.00 to $385.00 and set a “hold” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Ulta Beauty from $552.00 to $448.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays raised their price target on shares of Ulta Beauty from $328.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, The Goldman Sachs Group reduced their price objective on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating for the company in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Ulta Beauty has an average rating of “Moderate Buy” and a consensus target price of $443.78.

Ulta Beauty Stock Performance

Ulta Beauty stock traded down $15.23 during trading on Friday, reaching $352.35. 4,021,828 shares of the company’s stock were exchanged, compared to its average volume of 912,023. The firm has a market cap of $16.81 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.75 and a beta of 1.37. The company’s 50-day moving average is $373.05 and its two-hundred day moving average is $427.73. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.17). The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. Ulta Beauty’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the company posted $6.02 EPS. Analysts anticipate that Ulta Beauty will post 25.48 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ULTA. Nvwm LLC grew its position in Ulta Beauty by 2.1% during the fourth quarter. Nvwm LLC now owns 1,043 shares of the specialty retailer’s stock valued at $511,000 after acquiring an additional 21 shares during the last quarter. Manchester Capital Management LLC lifted its stake in Ulta Beauty by 41.2% in the fourth quarter. Manchester Capital Management LLC now owns 72 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 21 shares during the period. Nkcfo LLC raised its holdings in Ulta Beauty by 14.4% in the fourth quarter. Nkcfo LLC now owns 183 shares of the specialty retailer’s stock worth $90,000 after purchasing an additional 23 shares in the last quarter. Janiczek Wealth Management LLC raised its holdings in Ulta Beauty by 32.5% in the first quarter. Janiczek Wealth Management LLC now owns 102 shares of the specialty retailer’s stock worth $53,000 after purchasing an additional 25 shares in the last quarter. Finally, Bfsg LLC raised its holdings in Ulta Beauty by 0.4% in the first quarter. Bfsg LLC now owns 6,284 shares of the specialty retailer’s stock worth $3,286,000 after purchasing an additional 26 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

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.