JPMorgan Chase & Co. Cuts Ulta Beauty (NASDAQ:ULTA) Price Target to $475.00

Ulta Beauty (NASDAQ:ULTA) had its price objective cut by JPMorgan Chase & Co. from $480.00 to $475.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the specialty retailer’s stock.

A number of other research analysts have also recently commented on the company. Oppenheimer boosted their price target on Ulta Beauty from $505.00 to $515.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Loop Capital lifted their price objective on Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com raised Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. William Blair downgraded Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. Finally, Canaccord Genuity Group lifted their price objective on Ulta Beauty from $500.00 to $538.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $431.13.

Ulta Beauty Stock Up 13.7 %

ULTA stock opened at $357.48 on Friday. Ulta Beauty has a twelve month low of $309.01 and a twelve month high of $544.36. The stock has a market cap of $16.58 billion, a P/E ratio of 14.30, a PEG ratio of 0.89 and a beta of 1.34. The business’s 50-day moving average price is $385.01 and its 200-day moving average price is $386.94.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, topping analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the firm earned $8.08 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts expect that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

Several hedge funds have recently bought and sold shares of ULTA. Impax Asset Management Group plc grew its position in Ulta Beauty by 11.8% in the 3rd quarter. Impax Asset Management Group plc now owns 93,419 shares of the specialty retailer’s stock valued at $36,351,000 after acquiring an additional 9,863 shares during the last quarter. Sigma Planning Corp grew its position in Ulta Beauty by 49.2% in the 3rd quarter. Sigma Planning Corp now owns 1,159 shares of the specialty retailer’s stock valued at $451,000 after acquiring an additional 382 shares during the last quarter. Apollon Wealth Management LLC grew its position in Ulta Beauty by 44.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,399 shares of the specialty retailer’s stock valued at $544,000 after acquiring an additional 432 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Ulta Beauty by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,909 shares of the specialty retailer’s stock valued at $43,546,000 after acquiring an additional 1,687 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Ulta Beauty by 24.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 9,907 shares of the specialty retailer’s stock worth $3,855,000 after buying an additional 1,977 shares during the period. 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.