Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Ulta Beauty (NASDAQ:ULTA) had its target price boosted by stock analysts at Canaccord Genuity Group from $442.00 to $476.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 19.06% from the company’s current price.

A number of other equities research analysts have also issued reports on ULTA. Evercore ISI cut their price objective on shares of Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, August 26th. William Blair lowered shares of Ulta Beauty from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. Barclays raised their target price on shares of Ulta Beauty from $328.00 to $335.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. JPMorgan Chase & Co. lifted their price objective on shares of Ulta Beauty from $450.00 to $472.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, B. Riley initiated coverage on shares of Ulta Beauty in a research note on Tuesday, September 10th. They set a “sell” rating and a $300.00 price objective for the company. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $421.71.

Ulta Beauty Price Performance

Shares of ULTA opened at $399.81 on Tuesday. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76. The company has a 50 day simple moving average of $373.94 and a two-hundred day simple moving average of $376.27. The firm has a market cap of $18.84 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 2.26 and a beta of 1.32.

Hedge Funds Weigh In On Ulta Beauty

Several institutional investors and hedge funds have recently added to or reduced their stakes in ULTA. Cetera Investment Advisers grew its stake in Ulta Beauty by 34.3% in the first quarter. Cetera Investment Advisers now owns 13,471 shares of the specialty retailer’s stock valued at $7,044,000 after purchasing an additional 3,443 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of Ulta Beauty by 201.3% during the first quarter. Cetera Advisors LLC now owns 4,134 shares of the specialty retailer’s stock worth $2,162,000 after acquiring an additional 2,762 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Ulta Beauty by 38.4% during the second quarter. GAMMA Investing LLC now owns 335 shares of the specialty retailer’s stock worth $129,000 after acquiring an additional 93 shares during the last quarter. Mather Group LLC. grew its stake in shares of Ulta Beauty by 865.9% during the second quarter. Mather Group LLC. now owns 879 shares of the specialty retailer’s stock worth $339,000 after acquiring an additional 788 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its stake in shares of Ulta Beauty by 14.7% during the second quarter. Kingswood Wealth Advisors LLC now owns 796 shares of the specialty retailer’s stock worth $307,000 after acquiring an additional 102 shares during the last quarter. 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.