Ulta Beauty (NASDAQ:ULTA) Shares Down 2.7%

Shares of Ulta Beauty, Inc. (NASDAQ:ULTA) fell 2.7% during mid-day trading on Tuesday . The stock traded as low as $378.70 and last traded at $378.70. 347,050 shares were traded during mid-day trading, a decline of 64% from the average session volume of 951,223 shares. The stock had previously closed at $389.12.

Wall Street Analyst Weigh In

ULTA has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating on the stock in a research note on Friday, August 23rd. Oppenheimer lowered their price objective on Ulta Beauty from $450.00 to $435.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. Canaccord Genuity Group cut their target price on shares of Ulta Beauty from $522.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Barclays upped their price target on Ulta Beauty from $328.00 to $335.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Finally, Piper Sandler reiterated a “neutral” rating and set a $356.00 price target (down previously from $404.00) on shares of Ulta Beauty in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $425.29.

Ulta Beauty Trading Down 2.2 %

The company has a fifty day moving average price of $368.35 and a two-hundred day moving average price of $400.45. The firm has a market capitalization of $17.94 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 2.31 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the firm posted $6.02 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts expect that Ulta Beauty, Inc. will post 23.21 earnings per share for the current year.

Hedge Funds Weigh In On Ulta Beauty

Institutional investors have recently bought and sold shares of the company. Vima LLC purchased a new stake in shares of Ulta Beauty during the 4th quarter valued at approximately $27,000. Riverview Trust Co purchased a new stake in Ulta Beauty in the first quarter valued at $30,000. Sound Income Strategies LLC raised its position in Ulta Beauty by 490.0% in the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 49 shares during the period. LRI Investments LLC acquired a new position in shares of Ulta Beauty in the 1st quarter valued at $31,000. Finally, UMB Bank n.a. grew its holdings in shares of Ulta Beauty by 83.3% during the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 30 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.