Oppenheimer Raises Ulta Beauty (NASDAQ:ULTA) Price Target to $505.00

Ulta Beauty (NASDAQ:ULTA) had its target price hoisted by analysts at Oppenheimer from $435.00 to $505.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Oppenheimer’s price objective points to a potential upside of 17.94% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Ulta Beauty from $300.00 to $350.00 and gave the company an “underweight” rating in a report on Friday. Raymond James cut their price target on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a report on Monday, October 14th. UBS Group decreased their price objective on Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a report on Friday, August 30th. TD Cowen cut their target price on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group lifted their target price on Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $438.00.

Ulta Beauty Price Performance

ULTA opened at $428.17 on Friday. The company’s 50 day simple moving average is $374.15 and its two-hundred day simple moving average is $376.64. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 2.30 and a beta of 1.32. Ulta Beauty has a 1-year low of $318.17 and a 1-year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data 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 firm 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 was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $5.07 earnings per share. On average, equities analysts anticipate that Ulta Beauty will post 23.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in Ulta Beauty by 180,713.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock valued at $481,952,000 after purchasing an additional 1,237,884 shares in the last quarter. Geode Capital Management LLC raised its holdings in Ulta Beauty by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,188,730 shares of the specialty retailer’s stock valued at $461,059,000 after acquiring an additional 10,153 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Ulta Beauty in the third quarter valued at approximately $359,480,000. TD Asset Management Inc lifted its stake in Ulta Beauty by 14.1% in the second quarter. TD Asset Management Inc now owns 620,793 shares of the specialty retailer’s stock worth $239,545,000 after acquiring an additional 76,721 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in Ulta Beauty by 5.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock worth $237,519,000 after acquiring an additional 31,540 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

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.