Ulta Beauty (NASDAQ:ULTA) Earns “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Ulta Beauty (NASDAQ:ULTA) in a report issued on Thursday morning, Benzinga reports. Telsey Advisory Group currently has a $450.00 price target on the specialty retailer’s stock.

ULTA has been the topic of several other research reports. Evercore ISI reduced their price target on shares of Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Barclays upped their target price on Ulta Beauty from $328.00 to $335.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Stifel Nicolaus lowered their target price on Ulta Beauty from $475.00 to $385.00 and set a “hold” rating on the stock in a report on Friday, August 30th. StockNews.com raised Ulta Beauty from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Raymond James decreased their price objective on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $423.71.

Ulta Beauty Price Performance

ULTA opened at $368.92 on Thursday. 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 $17.60 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.12 and a beta of 1.32. The stock’s 50 day simple moving average is $373.91 and its 200 day simple moving average is $386.40.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share 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 analyst estimates of $2.61 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the company posted $6.02 EPS. Research analysts expect that Ulta Beauty will post 23.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Choreo LLC grew its holdings in shares of Ulta Beauty by 71.7% during the 2nd quarter. Choreo LLC now owns 2,868 shares of the specialty retailer’s stock worth $1,103,000 after purchasing an additional 1,198 shares during the period. Duality Advisers LP raised its holdings in Ulta Beauty by 92.8% in the first quarter. Duality Advisers LP now owns 7,278 shares of the specialty retailer’s stock valued at $3,806,000 after buying an additional 3,504 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ulta Beauty by 10.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,799 shares of the specialty retailer’s stock valued at $46,954,000 after buying an additional 8,337 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Ulta Beauty during the second quarter worth approximately $19,136,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Ulta Beauty by 5.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,778 shares of the specialty retailer’s stock worth $1,072,000 after acquiring an additional 139 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.