Alps Advisors Inc. Purchases Shares of 1,010 Ulta Beauty Inc. (NASDAQ:ULTA)

Alps Advisors Inc. acquired a new stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,010 shares of the specialty retailer's stock, valued at approximately $370,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ULTA. Frank Rimerman Advisors LLC purchased a new stake in shares of Ulta Beauty during the 4th quarter worth approximately $264,000. Creative Financial Designs Inc. ADV increased its position in Ulta Beauty by 19.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 395 shares of the specialty retailer's stock worth $172,000 after buying an additional 63 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Ulta Beauty by 1.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,857 shares of the specialty retailer's stock worth $4,722,000 after buying an additional 159 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in Ulta Beauty in the fourth quarter worth $985,000. Finally, Enhancing Capital LLC purchased a new stake in Ulta Beauty in the fourth quarter worth $625,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ULTA. Wall Street Zen upgraded shares of Ulta Beauty from a "hold" rating to a "buy" rating in a research note on Saturday, June 28th. Piper Sandler reiterated a "neutral" rating and issued a $437.00 price objective (up from $386.00) on shares of Ulta Beauty in a research note on Friday, May 30th. Evercore ISI lifted their price objective on shares of Ulta Beauty from $465.00 to $490.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Citigroup lifted their price objective on shares of Ulta Beauty from $425.00 to $450.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Finally, UBS Group lifted their price objective on shares of Ulta Beauty from $490.00 to $525.00 and gave the company a "buy" rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Ulta Beauty has a consensus rating of "Moderate Buy" and a consensus price target of $465.04.

Ulta Beauty Trading Up 2.4%

Shares of NASDAQ ULTA traded up $11.30 during trading on Wednesday, reaching $485.08. 613,562 shares of the company traded hands, compared to its average volume of 1,038,284. The firm's fifty day simple moving average is $449.25 and its 200 day simple moving average is $403.95. The stock has a market cap of $21.80 billion, a P/E ratio of 18.95, a PEG ratio of 2.91 and a beta of 1.08. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $498.52.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.73 by $0.97. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the firm posted $6.47 earnings per share. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts expect that Ulta Beauty Inc. will post 23.96 EPS for the current year.

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.