Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, Piper Sandler Analyst Says

Ulta Beauty (NASDAQ:ULTA) had its price objective hoisted by stock analysts at Piper Sandler from $390.00 to $394.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. Piper Sandler’s target price suggests a potential downside of 8.00% from the stock’s current price.

Several other brokerages also recently commented on ULTA. Loop Capital lifted their target price on shares of Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a report on Monday, December 9th. BMO Capital Markets upped their target price on Ulta Beauty from $385.00 to $420.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Canaccord Genuity Group boosted their price objective on shares of Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. TD Cowen reduced their price objective on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Finally, William Blair downgraded shares of Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Ulta Beauty currently has an average rating of “Hold” and a consensus price target of $454.43.

Ulta Beauty Trading Down 0.7 %

Shares of Ulta Beauty stock opened at $428.27 on Monday. The stock has a 50-day moving average price of $399.50 and a 200 day moving average price of $383.42. The company has a market cap of $19.86 billion, a P/E ratio of 17.14, a P/E/G ratio of 2.38 and a beta of 1.28. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.45 by $0.69. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the business posted $5.07 EPS. On average, equities analysts forecast that Ulta Beauty will post 23.57 earnings per share for the current fiscal year.

Institutional Trading of Ulta Beauty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI raised its holdings in Ulta Beauty by 16.6% during the second quarter. National Bank of Canada FI now owns 18,392 shares of the specialty retailer’s stock valued at $7,065,000 after acquiring an additional 2,619 shares during the period. Private Advisor Group LLC grew its position in Ulta Beauty by 65.9% during the 2nd quarter. Private Advisor Group LLC now owns 10,022 shares of the specialty retailer’s stock worth $3,867,000 after purchasing an additional 3,982 shares during the last quarter. Candriam S.C.A. raised its stake in Ulta Beauty by 5.2% in the 2nd quarter. Candriam S.C.A. now owns 25,138 shares of the specialty retailer’s stock worth $9,700,000 after acquiring an additional 1,253 shares during the last quarter. Gallacher Capital Management LLC acquired a new stake in shares of Ulta Beauty during the second quarter worth about $213,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Ulta Beauty in the 2nd quarter valued at $525,000. Hedge funds and other 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.