Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $525.00 at JPMorgan Chase & Co.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its target price upped by investment analysts at JPMorgan Chase & Co. from $477.00 to $525.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the specialty retailer's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 11.77% from the stock's current price.

A number of other research firms also recently issued reports on ULTA. Canaccord Genuity Group cut their price target on Ulta Beauty from $526.00 to $510.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. UBS Group lifted their target price on Ulta Beauty from $490.00 to $525.00 and gave the company a "buy" rating in a research report on Friday. Bank of America lowered their price target on Ulta Beauty from $475.00 to $380.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Telsey Advisory Group raised their price objective on Ulta Beauty from $460.00 to $520.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Piper Sandler reiterated a "neutral" rating on shares of Ulta Beauty in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $454.04.

Ulta Beauty Trading Up 11.4%

Shares of ULTA traded up $47.92 during trading hours on Friday, reaching $469.71. The stock had a trading volume of 4,593,456 shares, compared to its average volume of 1,051,937. The firm has a 50-day simple moving average of $384.70 and a 200 day simple moving average of $388.02. Ulta Beauty has a 12 month low of $309.01 and a 12 month high of $491.98. The company has a market capitalization of $21.21 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 0.89 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, beating analysts' consensus estimates of $5.73 by $0.97. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.79 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $6.47 earnings per share. On average, equities analysts forecast that Ulta Beauty will post 23.96 EPS for the current year.

Insider Buying and Selling

In related news, insider Jodi J. Caro sold 902 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total value of $332,982.32. Following the completion of the transaction, the insider now directly owns 7,632 shares of the company's stock, valued at approximately $2,817,429.12. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ulta Beauty

Large investors have recently made changes to their positions in the stock. Cornerstone Investment Partners LLC lifted its holdings in Ulta Beauty by 3.9% during the 4th quarter. Cornerstone Investment Partners LLC now owns 665 shares of the specialty retailer's stock worth $289,000 after purchasing an additional 25 shares in the last quarter. Wambolt & Associates LLC grew its holdings in Ulta Beauty by 1.6% during the 1st quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer's stock valued at $626,000 after buying an additional 26 shares in the last quarter. Westside Investment Management Inc. increased its position in shares of Ulta Beauty by 32.5% during the first quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer's stock valued at $40,000 after buying an additional 27 shares during the period. RWA Wealth Partners LLC increased its position in shares of Ulta Beauty by 1.5% during the fourth quarter. RWA Wealth Partners LLC now owns 1,867 shares of the specialty retailer's stock valued at $812,000 after buying an additional 28 shares during the period. Finally, Procyon Advisors LLC lifted its holdings in shares of Ulta Beauty by 4.3% in the first quarter. Procyon Advisors LLC now owns 707 shares of the specialty retailer's stock worth $259,000 after buying an additional 29 shares in the last quarter. 90.39% of the stock is 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.