Ulta Beauty (NASDAQ:ULTA) Given New $350.00 Price Target at Wells Fargo & Company

Ulta Beauty (NASDAQ:ULTA) had its price target hoisted by Wells Fargo & Company from $300.00 to $350.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 19.10% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on ULTA. Piper Sandler boosted their price objective on Ulta Beauty from $357.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday. Barclays lifted their target price on Ulta Beauty from $328.00 to $335.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Telsey Advisory Group raised their price target on Ulta Beauty from $450.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $435.00 price objective on shares of Ulta Beauty in a research note on Wednesday, October 16th. 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. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $428.38.

Ulta Beauty Price Performance

Ulta Beauty stock opened at $432.63 on Friday. The firm’s 50 day moving average price is $373.67 and its 200-day moving average price is $376.39. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76. The stock has a market cap of $20.39 billion, a P/E ratio of 17.36, a PEG ratio of 2.27 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.50 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $5.07 earnings per share. As a group, equities analysts expect that Ulta Beauty will post 23.07 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Choreo LLC raised its stake in Ulta Beauty by 71.7% in the second quarter. Choreo LLC now owns 2,868 shares of the specialty retailer’s stock worth $1,103,000 after buying an additional 1,198 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Ulta Beauty in the 2nd quarter worth $19,136,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Ulta Beauty by 5.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,778 shares of the specialty retailer’s stock worth $1,072,000 after purchasing an additional 139 shares during the last quarter. Jensen Investment Management Inc. boosted its position in Ulta Beauty by 17.9% during the third quarter. Jensen Investment Management Inc. now owns 11,330 shares of the specialty retailer’s stock valued at $4,409,000 after purchasing an additional 1,720 shares in the last quarter. Finally, Distillate Capital Partners LLC purchased a new position in Ulta Beauty in the second quarter valued at about $14,665,000. Hedge funds and other institutional investors 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.