Canaccord Genuity Group Has Lowered Expectations for Ulta Beauty (NASDAQ:ULTA) Stock Price

Ulta Beauty (NASDAQ:ULTA) had its target price lowered by Canaccord Genuity Group from $538.00 to $526.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the specialty retailer’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 47.14% from the stock’s previous close.

Several other research firms have also issued reports on ULTA. DA Davidson reduced their target price on shares of Ulta Beauty from $510.00 to $415.00 and set a “buy” rating for the company in a report on Friday. Morgan Stanley decreased their price objective on shares of Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating on the stock in a research report on Friday. Bank of America dropped their target price on shares of Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating for the company in a report on Friday. B. Riley lowered their price objective on Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus cut their target price on Ulta Beauty from $475.00 to $400.00 and set a “hold” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Ulta Beauty has a consensus rating of “Hold” and an average price target of $431.13.

Ulta Beauty Trading Up 13.7 %

Shares of NASDAQ ULTA opened at $357.48 on Friday. Ulta Beauty has a 12-month low of $309.01 and a 12-month high of $544.36. The firm has a market capitalization of $16.58 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The firm has a 50 day moving average of $385.01 and a 200 day moving average of $386.80.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, topping analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the firm earned $8.08 EPS. Ulta Beauty’s revenue for the quarter was down 1.9% compared to the same quarter last year. Sell-side analysts predict 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 bought and sold shares of the stock. Cornerstone Investment Partners LLC increased its position in Ulta Beauty by 3.9% during the fourth quarter. Cornerstone Investment Partners LLC now owns 665 shares of the specialty retailer’s stock valued at $289,000 after acquiring an additional 25 shares during the last quarter. RWA Wealth Partners LLC boosted its stake in shares of Ulta Beauty by 1.5% during the 4th quarter. RWA Wealth Partners LLC now owns 1,867 shares of the specialty retailer’s stock worth $812,000 after purchasing an additional 28 shares during the period. Lido Advisors LLC raised its position in Ulta Beauty by 5.0% in the 4th quarter. Lido Advisors LLC now owns 626 shares of the specialty retailer’s stock worth $272,000 after purchasing an additional 30 shares during the period. Colonial Trust Co SC lifted its stake in Ulta Beauty by 36.9% in the fourth quarter. Colonial Trust Co SC now owns 115 shares of the specialty retailer’s stock worth $50,000 after purchasing an additional 31 shares during the last quarter. Finally, Stonegate Investment Group LLC grew its stake in shares of Ulta Beauty by 0.5% during the fourth quarter. Stonegate Investment Group LLC now owns 6,623 shares of the specialty retailer’s stock valued at $2,881,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors 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.