Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, Citigroup Analyst Says

Ulta Beauty (NASDAQ:ULTA) had its target price upped by equities researchers at Citigroup from $390.00 to $450.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. Citigroup’s price target points to a potential upside of 5.10% from the company’s current price.

Several other equities analysts also recently commented on ULTA. Wells Fargo & Company upped their target price on Ulta Beauty from $300.00 to $350.00 and gave the company an “underweight” rating in a research report on Friday. TD Cowen lowered their price objective on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. UBS Group dropped their target price on Ulta Beauty from $550.00 to $505.00 and set a “buy” rating for the company in a report on Friday, August 30th. The Goldman Sachs Group decreased their price target on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, Barclays lifted their price objective on shares of Ulta Beauty from $335.00 to $410.00 and gave the stock an “equal weight” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $438.00.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $428.17 on Friday. The business has a fifty day simple moving average of $374.15 and a two-hundred day simple moving average of $376.64. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76. The company has a market capitalization of $20.18 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.30 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. Ulta Beauty’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $5.07 EPS. As a group, equities analysts anticipate that Ulta Beauty will post 23.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in shares of Ulta Beauty by 180,713.0% in the third quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock worth $481,952,000 after acquiring an additional 1,237,884 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Ulta Beauty in the 3rd quarter valued at approximately $359,480,000. Holocene Advisors LP boosted its position in Ulta Beauty by 3,246.2% in the third quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock valued at $134,737,000 after buying an additional 335,914 shares in the last quarter. Atreides Management LP bought a new stake in shares of Ulta Beauty during the third quarter worth $73,069,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Ulta Beauty by 87.3% during the second quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock worth $130,380,000 after buying an additional 157,497 shares in the last quarter. Institutional investors 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.