Ulta Beauty (NASDAQ:ULTA) Given New $357.00 Price Target at Piper Sandler

Ulta Beauty (NASDAQ:ULTA) had its price objective raised by equities researchers at Piper Sandler from $356.00 to $357.00 in a report released on Thursday, Marketbeat.com reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Piper Sandler’s price target suggests a potential downside of 3.23% from the company’s current price.

Several other brokerages have also weighed in on ULTA. B. Riley assumed coverage on Ulta Beauty in a report on Tuesday, September 10th. They set a “sell” rating and a $300.00 price objective for the company. TD Cowen decreased their price objective on Ulta Beauty from $395.00 to $390.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Raymond James dropped their price objective on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. The Goldman Sachs Group reduced their target price on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Finally, UBS Group dropped their price target on shares of Ulta Beauty from $550.00 to $505.00 and set a “buy” 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 assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $423.71.

Ulta Beauty Price Performance

NASDAQ ULTA opened at $368.92 on Thursday. The business’s fifty day moving average is $373.91 and its 200-day moving average is $387.32. The stock has a market capitalization of $17.38 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.12 and a beta of 1.32. Ulta Beauty has a one year low of $318.17 and a one year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the firm posted $6.02 EPS. The business’s revenue was up .9% on a year-over-year basis. Research analysts expect that Ulta Beauty will post 23.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

Several hedge funds have recently bought and sold shares of ULTA. TD Asset Management Inc increased its holdings in shares of Ulta Beauty by 14.1% in the 2nd quarter. TD Asset Management Inc now owns 620,793 shares of the specialty retailer’s stock worth $239,545,000 after buying an additional 76,721 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its stake in Ulta Beauty by 14.4% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 516,405 shares of the specialty retailer’s stock valued at $200,944,000 after acquiring an additional 65,000 shares during the last quarter. Boston Partners raised its position in Ulta Beauty by 47.7% during the first quarter. Boston Partners now owns 476,027 shares of the specialty retailer’s stock valued at $246,862,000 after purchasing an additional 153,727 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Ulta Beauty by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 422,801 shares of the specialty retailer’s stock worth $163,149,000 after purchasing an additional 24,822 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Ulta Beauty by 1.2% in the 1st quarter. Bessemer Group Inc. now owns 357,503 shares of the specialty retailer’s stock worth $186,933,000 after purchasing an additional 4,344 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

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.