TD Cowen Boosts Ulta Beauty (NASDAQ:ULTA) Price Target to $480.00

Ulta Beauty (NASDAQ:ULTA) had its price target upped by equities research analysts at TD Cowen from $450.00 to $480.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the specialty retailer’s stock. TD Cowen’s price objective points to a potential upside of 15.62% from the stock’s previous close.

Other analysts also recently issued reports about the company. Canaccord Genuity Group increased their price objective on Ulta Beauty from $500.00 to $538.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company increased their target price on shares of Ulta Beauty from $350.00 to $370.00 and gave the company an “underweight” rating in a report on Tuesday. StockNews.com raised shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup boosted their price objective on Ulta Beauty from $450.00 to $457.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Oppenheimer boosted their price target on shares of Ulta Beauty from $505.00 to $515.00 and gave the stock an “outperform” rating in a report on Tuesday. One research 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. Based on data from MarketBeat.com, Ulta Beauty presently has an average rating of “Hold” and an average target price of $460.30.

Ulta Beauty Stock Performance

Shares of ULTA opened at $415.14 on Wednesday. The firm has a market cap of $19.25 billion, a PE 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 business’s 50 day moving average price is $401.20 and its two-hundred day moving average price is $383.86.

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, topping 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 analyst estimates of $2.50 billion. During the same quarter in the prior year, the company earned $5.07 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Research analysts predict that Ulta Beauty will post 23.57 EPS for the current fiscal year.

Institutional Trading of Ulta Beauty

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

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.