Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Ulta Beauty (NASDAQ:ULTA) had its price objective increased by investment analysts at BMO Capital Markets from $385.00 to $420.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the specialty retailer’s stock. BMO Capital Markets’ target price would indicate a potential downside of 1.91% from the stock’s previous close.

ULTA has been the topic of several other reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. 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. Wells Fargo & Company lifted their price objective on shares of Ulta Beauty from $300.00 to $350.00 and gave the company an “underweight” rating in a research report on Friday. B. Riley initiated coverage on shares of Ulta Beauty in a research report on Tuesday, September 10th. They set a “sell” rating and a $300.00 target price for the company. Finally, The Goldman Sachs Group reduced their price target on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $438.00.

Ulta Beauty Stock Performance

ULTA stock opened at $428.17 on Friday. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.30 and a beta of 1.32. The business’s 50-day moving average is $374.15 and its two-hundred day moving average is $376.64. Ulta Beauty has a fifty-two week low of $318.17 and a fifty-two week high of $574.76.

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

Institutional Trading of Ulta Beauty

Several hedge funds have recently modified their holdings of ULTA. UMB Bank n.a. lifted its holdings in shares of Ulta Beauty by 83.3% during the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares during the last quarter. Innealta Capital LLC acquired a new position in Ulta Beauty during the 2nd quarter valued at about $32,000. Paladin Wealth LLC purchased a new stake in Ulta Beauty in the third quarter valued at about $32,000. Westside Investment Management Inc. boosted its holdings in Ulta Beauty by 151.5% in the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 50 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of Ulta Beauty by 118.4% during the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 45 shares during the last quarter. 90.39% of the stock is 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.