Canaccord Genuity Group Forecasts Strong Price Appreciation for Ulta Beauty (NASDAQ:ULTA) Stock

Ulta Beauty (NASDAQ:ULTA) had its price target increased by Canaccord Genuity Group from $500.00 to $538.00 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 objective indicates a potential upside of 29.59% from the company’s current price.

ULTA has been the subject of a number of other reports. TD Cowen reduced their price target on shares of Ulta Beauty from $390.00 to $380.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company raised their price objective on Ulta Beauty from $350.00 to $370.00 and gave the stock an “underweight” rating in a research report on Tuesday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Ulta Beauty in a research report on Tuesday. Barclays boosted their target price on Ulta Beauty from $335.00 to $410.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, StockNews.com downgraded Ulta Beauty from a “hold” rating to a “sell” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Ulta Beauty currently has an average rating of “Hold” and an average target price of $458.78.

Ulta Beauty Trading Down 3.1 %

NASDAQ ULTA opened at $415.14 on Tuesday. Ulta Beauty has a 52 week low of $318.17 and a 52 week high of $574.76. The stock has a market cap of $19.25 billion, a P/E ratio of 16.61, a PEG ratio of 2.38 and a beta of 1.28. The company’s fifty day simple moving average is $400.28 and its 200-day simple moving average is $383.64.

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

Institutional Trading of Ulta Beauty

Several institutional investors and hedge funds have recently modified their holdings of ULTA. National Bank of Canada FI boosted its position in Ulta Beauty by 16.6% in the second quarter. National Bank of Canada FI now owns 18,392 shares of the specialty retailer’s stock worth $7,065,000 after purchasing an additional 2,619 shares during the last quarter. Private Advisor Group LLC raised its holdings in Ulta Beauty by 65.9% during the 2nd quarter. Private Advisor Group LLC now owns 10,022 shares of the specialty retailer’s stock valued at $3,867,000 after acquiring an additional 3,982 shares during the period. Acadian Asset Management LLC bought a new position in Ulta Beauty in the 2nd quarter worth about $525,000. Caprock Group LLC boosted its position in shares of Ulta Beauty by 1.7% in the second quarter. Caprock Group LLC now owns 4,328 shares of the specialty retailer’s stock valued at $1,670,000 after acquiring an additional 72 shares during the period. Finally, First Foundation Advisors grew its position in shares of Ulta Beauty by 45.9% during the 2nd quarter. First Foundation Advisors now owns 162 shares of the specialty retailer’s stock valued at $63,000 after purchasing an additional 51 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.