Telsey Advisory Group Reaffirms “Outperform” Rating for Ulta Beauty (NASDAQ:ULTA)

Ulta Beauty (NASDAQ:ULTA)‘s stock had its “outperform” rating reaffirmed by analysts at Telsey Advisory Group in a research note issued on Tuesday,Benzinga reports. They presently have a $500.00 target price on the specialty retailer’s stock. Telsey Advisory Group’s price target indicates a potential upside of 20.44% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Raymond James reduced their price objective on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Barclays raised their target price on shares of Ulta Beauty from $335.00 to $410.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. DA Davidson upped their price objective on Ulta Beauty from $435.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Citigroup raised their target price on shares of Ulta Beauty from $390.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Piper Sandler upped their price objective on Ulta Beauty from $390.00 to $394.00 and gave the company a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $458.78.

Ulta Beauty Stock Down 3.1 %

Shares of ULTA stock opened at $415.14 on Tuesday. The firm 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 12-month low of $318.17 and a 12-month high of $574.76. The firm has a fifty day moving average of $400.28 and a 200-day moving average of $383.64.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the business posted $5.07 EPS. Ulta Beauty’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts expect that Ulta Beauty will post 23.57 earnings per share for the current year.

Hedge Funds Weigh In On Ulta Beauty

A number of hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC boosted its position in Ulta Beauty by 180,713.0% in the third quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock worth $481,952,000 after purchasing an additional 1,237,884 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new position in shares of Ulta Beauty in the 3rd quarter worth about $359,480,000. Holocene Advisors LP grew its position in Ulta Beauty by 3,246.2% during the third quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock valued at $134,737,000 after buying an additional 335,914 shares during the period. Atreides Management LP purchased a new stake in Ulta Beauty during the third quarter worth about $73,069,000. Finally, Hsbc Holdings PLC raised its position in Ulta Beauty by 87.3% in the second quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock worth $130,380,000 after acquiring an additional 157,497 shares during the period. 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.