Oppenheimer Forecasts Strong Price Appreciation for Ulta Beauty (NASDAQ:ULTA) Stock

Ulta Beauty (NASDAQ:ULTA) had its price objective raised by equities research analysts at Oppenheimer from $505.00 to $515.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the specialty retailer’s stock. Oppenheimer’s target price would suggest a potential upside of 24.05% from the stock’s current price.

Several other research firms have also issued reports on ULTA. StockNews.com lowered Ulta Beauty from a “hold” rating to a “sell” rating in a report on Friday, December 20th. TD Cowen lowered their price target on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft reduced their price objective on Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Raymond James lowered their target price on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Finally, Canaccord Genuity Group raised their price target 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. 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 company. According to data from MarketBeat, Ulta Beauty currently has a consensus rating of “Hold” and an average target price of $458.78.

Ulta Beauty Stock Down 3.1 %

ULTA opened at $415.14 on Tuesday. Ulta Beauty has a 12-month low of $318.17 and a 12-month high of $574.76. The business has a 50 day moving average of $400.28 and a 200-day moving average of $383.64. The stock has a market cap of $19.25 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 2.38 and a beta of 1.28.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.45 by $0.69. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the firm posted $5.07 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, analysts expect that Ulta Beauty will post 23.57 earnings per share for the current year.

Institutional Trading of Ulta Beauty

Several large investors have recently made changes to their positions in the company. Paladin Wealth LLC bought a new stake in shares of Ulta Beauty during the third quarter valued at approximately $32,000. Sunbelt Securities Inc. grew its position in shares of Ulta Beauty by 118.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 45 shares during the period. Westside Investment Management Inc. grew its holdings in Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 50 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Ulta Beauty in the third quarter worth $41,000. Finally, American National Bank & Trust purchased a new stake in Ulta Beauty in the third quarter worth $44,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.