JPMorgan Chase & Co. Issues Pessimistic Forecast for Ulta Beauty (NASDAQ:ULTA) Stock Price

Ulta Beauty (NASDAQ:ULTA) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $480.00 to $475.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 32.87% from the company’s previous close.

ULTA has been the topic of a number of other research reports. Canaccord Genuity Group upped their target price on shares of Ulta Beauty from $500.00 to $538.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Stifel Nicolaus cut their price target on shares of Ulta Beauty from $475.00 to $400.00 and set a “hold” rating on the stock in a research note on Friday. Barclays boosted their price target on shares of Ulta Beauty from $410.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 9th. William Blair lowered shares of Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. Finally, DA Davidson boosted their price target on shares of Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $431.13.

Ulta Beauty Price Performance

NASDAQ ULTA opened at $357.48 on Friday. The firm’s 50-day moving average is $385.01 and its two-hundred day moving average is $386.80. Ulta Beauty has a 12 month low of $309.01 and a 12 month high of $544.36. The stock has a market capitalization of $16.58 billion, a P/E ratio of 14.30, a PEG ratio of 0.89 and a beta of 1.34.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, beating analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the prior year, the company posted $8.08 earnings per share. Ulta Beauty’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, analysts anticipate that Ulta Beauty will post 23.96 EPS for the current year.

Institutional Trading of Ulta Beauty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prestige Wealth Management Group LLC raised its holdings in Ulta Beauty by 121.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 34 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in Ulta Beauty by 118.4% during 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 in the last quarter. Westside Investment Management Inc. raised 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 worth $32,000 after purchasing an additional 50 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Ulta Beauty during the fourth quarter worth approximately $43,000. Finally, Ameliora Wealth Management Ltd. purchased a new position in shares of Ulta Beauty during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds 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.