Bank of America Increases Ulta Beauty (NASDAQ:ULTA) Price Target to $475.00

Ulta Beauty (NASDAQ:ULTA) had its price target boosted by Bank of America from $460.00 to $475.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Bank of America‘s price target points to a potential upside of 14.42% from the stock’s previous close.

A number of other analysts have also recently commented on ULTA. Loop Capital lifted their target price on Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. StockNews.com lowered Ulta Beauty from a “hold” rating to a “sell” rating in a research report on Friday, December 20th. William Blair lowered shares of Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. B. Riley upgraded shares of Ulta Beauty from a “sell” rating to a “neutral” rating and upped their price target for the company from $330.00 to $430.00 in a research report on Tuesday. Finally, Piper Sandler increased their price target on shares of Ulta Beauty from $390.00 to $394.00 and gave the stock a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $458.78.

Ulta Beauty Stock Down 3.1 %

Shares of ULTA opened at $415.14 on Tuesday. The company has a market capitalization of $19.25 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 2.38 and a beta of 1.28. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76. The stock has a 50 day moving average price of $400.28 and a 200 day moving average price of $383.64.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.45 by $0.69. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.07 EPS. On average, equities analysts anticipate that Ulta Beauty will post 23.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake 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 buying an additional 1,237,884 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Ulta Beauty in the third quarter valued at $359,480,000. Holocene Advisors LP grew its holdings in shares of Ulta Beauty by 3,246.2% during the 3rd quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock worth $134,737,000 after purchasing an additional 335,914 shares during the period. Atreides Management LP acquired a new position in shares of Ulta Beauty during the 3rd quarter valued at $73,069,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Ulta Beauty by 87.3% during the second quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock worth $130,380,000 after purchasing an additional 157,497 shares in 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.