Wells Fargo & Company Boosts Ulta Beauty (NASDAQ:ULTA) Price Target to $370.00

Ulta Beauty (NASDAQ:ULTA) had its price objective hoisted by Wells Fargo & Company from $350.00 to $370.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 10.87% from the company’s current price.

Several other brokerages also recently commented on ULTA. StockNews.com downgraded shares of Ulta Beauty from a “hold” rating to a “sell” rating in a research note on Friday, December 20th. Telsey Advisory Group restated an “outperform” rating and issued a $500.00 price target on shares of Ulta Beauty in a research report on Tuesday. Citigroup raised their price objective on shares of Ulta Beauty from $390.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Loop Capital boosted their target price on Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Barclays raised their price target on Ulta Beauty from $335.00 to $410.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $458.78.

Ulta Beauty Price Performance

Shares of ULTA stock opened at $415.14 on Tuesday. The stock has a fifty day moving average price of $400.28 and a 200 day moving average price of $383.64. Ulta Beauty has a one year low of $318.17 and a one year high of $574.76. The stock has a market cap of $19.25 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 2.38 and a beta of 1.28.

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. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $5.07 EPS. Equities research analysts anticipate that Ulta Beauty will post 23.57 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ULTA. National Bank of Canada FI lifted its stake 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 valued at $7,065,000 after buying an additional 2,619 shares during the period. Private Advisor Group LLC increased its stake in shares of Ulta Beauty by 65.9% in 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 last quarter. Acadian Asset Management LLC acquired a new stake in shares of Ulta Beauty in the 2nd quarter valued at approximately $525,000. Caprock Group LLC boosted its stake in Ulta Beauty by 1.7% during the 2nd quarter. Caprock Group LLC now owns 4,328 shares of the specialty retailer’s stock worth $1,670,000 after acquiring an additional 72 shares during the last quarter. Finally, First Foundation Advisors grew its holdings in Ulta Beauty by 45.9% during the second quarter. First Foundation Advisors now owns 162 shares of the specialty retailer’s stock valued at $63,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

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.