Bank of America Cuts Ulta Beauty (NASDAQ:ULTA) Price Target to $380.00

Ulta Beauty (NASDAQ:ULTA) had its target price cut by Bank of America from $475.00 to $380.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Several other research analysts have also issued reports on ULTA. Oppenheimer increased their target price on shares of Ulta Beauty from $505.00 to $515.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Citigroup increased their target price on shares of Ulta Beauty from $450.00 to $457.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. DA Davidson increased their target price on shares of Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Telsey Advisory Group reissued an “outperform” rating and set a $500.00 target price on shares of Ulta Beauty in a research note on Monday, March 10th. Finally, UBS Group increased their target price on shares of Ulta Beauty from $470.00 to $490.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. One 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. Based on data from MarketBeat, Ulta Beauty has an average rating of “Hold” and an average target price of $431.13.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $357.48 on Friday. The firm’s fifty day moving average is $385.01 and its 200-day moving average is $386.94. Ulta Beauty has a 52 week low of $309.01 and a 52 week high of $544.36. The firm has a market cap of $16.58 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.89 and a beta of 1.34.

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

Institutional Investors Weigh In On Ulta Beauty

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Ulta Beauty by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,199,935 shares of the specialty retailer’s stock worth $520,587,000 after acquiring an additional 11,205 shares during the last quarter. Capital World Investors bought a new stake in shares of Ulta Beauty in the 4th quarter worth approximately $430,674,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Ulta Beauty in the 3rd quarter worth approximately $359,480,000. Deutsche Bank AG lifted its holdings in shares of Ulta Beauty by 1.4% in the 4th quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer’s stock worth $285,123,000 after acquiring an additional 9,291 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in shares of Ulta Beauty by 5.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock worth $237,519,000 after acquiring an additional 31,540 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

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.