BMO Capital Markets Lowers Ulta Beauty (NASDAQ:ULTA) Price Target to $404.00

Ulta Beauty (NASDAQ:ULTA) had its target price dropped by BMO Capital Markets from $467.00 to $404.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “market perform” rating on the specialty retailer’s stock. BMO Capital Markets’ target price points to a potential upside of 13.01% from the company’s current price.

Several other equities analysts have also issued reports on ULTA. Oppenheimer increased their target price on Ulta Beauty from $505.00 to $515.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Barclays increased 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 report on Thursday, January 9th. Piper Sandler dropped their price objective on shares of Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a report on Friday. TD Cowen increased their target price on shares of Ulta Beauty from $450.00 to $480.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Finally, UBS Group raised their price target on shares of Ulta Beauty from $470.00 to $490.00 and gave the company a “buy” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $431.13.

Ulta Beauty Price Performance

Shares of ULTA opened at $357.48 on Friday. The firm has a 50-day simple moving average of $385.01 and a two-hundred day simple moving average of $386.80. The stock 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 1-year low of $309.01 and a 1-year high of $544.36.

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

Institutional Trading of Ulta Beauty

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Prestige Wealth Management Group LLC grew its stake in Ulta Beauty by 121.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock worth $27,000 after buying an additional 34 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Ulta Beauty by 118.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 45 shares during the period. Westside Investment Management Inc. raised its position in Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 50 shares during the last quarter. Edge Capital Group LLC acquired a new stake in Ulta Beauty during the 4th quarter worth $33,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Ulta Beauty during the 3rd quarter worth $41,000. 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.