Piper Sandler Cuts Ulta Beauty (NASDAQ:ULTA) Price Target to $364.00

Ulta Beauty (NASDAQ:ULTA) had its target price cut by Piper Sandler from $425.00 to $364.00 in a research note published on Friday, Marketbeat reports. They currently have a neutral rating on the specialty retailer’s stock.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Ulta Beauty from $472.00 to $480.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. StockNews.com upgraded shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. Morgan Stanley upgraded shares of Ulta Beauty from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, February 19th. Barclays upped their price objective on shares of Ulta Beauty from $410.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 9th. Finally, Canaccord Genuity Group upped their price objective on shares of Ulta Beauty from $500.00 to $538.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Ulta Beauty currently has an average rating of “Hold” and an average target price of $431.13.

Ulta Beauty Trading Up 13.7 %

NASDAQ:ULTA opened at $357.48 on Friday. The company has a market cap of $16.58 billion, a PE ratio of 14.30, a P/E/G ratio of 0.89 and a beta of 1.34. Ulta Beauty has a twelve month low of $309.01 and a twelve month high of $544.36. The company’s 50 day moving average is $385.01 and its two-hundred day moving average is $386.94.

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

Institutional Investors Weigh In On Ulta Beauty

A number of large investors have recently added to or reduced their stakes in the business. Lansforsakringar Fondforvaltning AB publ purchased a new position in Ulta Beauty in the 4th quarter valued at about $6,565,000. Berkeley Inc lifted its holdings in Ulta Beauty by 75.8% in the 4th quarter. Berkeley Inc now owns 10,440 shares of the specialty retailer’s stock valued at $4,541,000 after purchasing an additional 4,501 shares in the last quarter. Siemens Fonds Invest GmbH lifted its holdings in Ulta Beauty by 1,015.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 11,851 shares of the specialty retailer’s stock valued at $5,154,000 after purchasing an additional 10,789 shares in the last quarter. GHE LLC lifted its holdings in Ulta Beauty by 17.9% in the 4th quarter. GHE LLC now owns 4,076 shares of the specialty retailer’s stock valued at $1,773,000 after purchasing an additional 620 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in Ulta Beauty in the 4th quarter valued at about $123,000. 90.39% of the stock is 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.