Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, Barclays Analyst Says

Ulta Beauty (NASDAQ:ULTA) had its price target upped by equities research analysts at Barclays from $335.00 to $410.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s target price points to a potential downside of 4.24% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Loop Capital reduced their target price on Ulta Beauty from $520.00 to $450.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Canaccord Genuity Group raised their price objective on shares of Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Piper Sandler upped their target price on shares of Ulta Beauty from $357.00 to $360.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Oppenheimer increased their target price on shares of Ulta Beauty from $435.00 to $505.00 and gave the company an “outperform” rating in a report on Friday. Finally, DA Davidson decreased their price target on Ulta Beauty from $507.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $438.00.

Ulta Beauty Stock Up 9.0 %

Shares of Ulta Beauty stock opened at $428.17 on Friday. The firm has a market cap 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 52-week low of $318.17 and a 52-week high of $574.76. The company’s 50-day simple moving average is $374.15 and its 200-day simple moving average is $376.64.

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

Institutional Investors Weigh In On Ulta Beauty

Hedge funds have recently made changes to their positions in the business. Synovus Financial Corp lifted its holdings in shares of Ulta Beauty by 5.2% during the 3rd quarter. Synovus Financial Corp now owns 2,556 shares of the specialty retailer’s stock worth $995,000 after acquiring an additional 126 shares during the period. World Investment Advisors LLC acquired a new position in Ulta Beauty during the third quarter worth approximately $212,000. Pine Valley Investments Ltd Liability Co raised its stake in Ulta Beauty by 12.4% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,589 shares of the specialty retailer’s stock worth $3,731,000 after purchasing an additional 1,057 shares during the period. Rule One Partners LLC acquired a new position in shares of Ulta Beauty in the 3rd quarter valued at $2,179,000. Finally, Diamant Asset Management Inc. grew its stake in shares of Ulta Beauty by 2.1% during the 3rd quarter. Diamant Asset Management Inc. now owns 2,920 shares of the specialty retailer’s stock valued at $1,136,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds 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.