Ulta Beauty (NASDAQ:ULTA) PT Lowered to $500.00 at Oppenheimer

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its target price reduced by equities researchers at Oppenheimer from $600.00 to $500.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm presently has an "outperform" rating on the specialty retailer's stock. Oppenheimer's price target indicates a potential upside of 11.45% from the company's current price.

Several other analysts also recently commented on the stock. Raymond James dropped their price objective on shares of Ulta Beauty from $630.00 to $610.00 and set a "strong-buy" rating on the stock in a report on Wednesday. Telsey Advisory Group reiterated an "outperform" rating and issued a $600.00 target price on shares of Ulta Beauty in a research note on Friday, March 15th. JPMorgan Chase & Co. boosted their target price on shares of Ulta Beauty from $535.00 to $600.00 and gave the company an "overweight" rating in a research note on Thursday, February 15th. UBS Group boosted their target price on shares of Ulta Beauty from $575.00 to $690.00 and gave the company a "buy" rating in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus boosted their target price on shares of Ulta Beauty from $505.00 to $565.00 and gave the company a "hold" rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ulta Beauty presently has an average rating of "Moderate Buy" and a consensus target price of $575.45.

Ulta Beauty Trading Up 2.0 %

Shares of NASDAQ:ULTA traded up $8.66 during midday trading on Thursday, reaching $448.64. 2,915,049 shares of the company were exchanged, compared to its average volume of 756,220. The stock has a market cap of $21.66 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. Ulta Beauty has a one year low of $368.02 and a one year high of $574.76. The business's fifty day moving average is $528.07 and its two-hundred day moving average is $464.97.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating analysts' consensus estimates of $7.49 by $0.59. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the firm posted $6.68 EPS. The company's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Ulta Beauty will post 26.94 EPS for the current year.

Ulta Beauty declared that its Board of Directors has initiated a share repurchase program on Thursday, March 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Transactions at Ulta Beauty

In other news, insider Anita Jane Ryan sold 3,102 shares of the firm's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the transaction, the insider now directly owns 2,705 shares in the company, valued at $1,420,801.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Kecia Steelman sold 20,950 shares of Ulta Beauty stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total value of $11,027,870.50. Following the transaction, the chief operating officer now directly owns 10,494 shares in the company, valued at approximately $5,523,936.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anita Jane Ryan sold 3,102 shares of Ulta Beauty stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the completion of the transaction, the insider now owns 2,705 shares in the company, valued at $1,420,801.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,552 shares of company stock worth $12,920,326. Insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Ulta Beauty

Several institutional investors have recently made changes to their positions in ULTA. Price T Rowe Associates Inc. MD boosted its position in shares of Ulta Beauty by 125.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,530,543 shares of the specialty retailer's stock worth $717,932,000 after purchasing an additional 852,258 shares in the last quarter. Morgan Stanley raised its stake in shares of Ulta Beauty by 56.7% during the 3rd quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer's stock worth $614,568,000 after buying an additional 556,809 shares during the last quarter. Norges Bank acquired a new position in shares of Ulta Beauty during the 4th quarter worth $263,192,000. Voya Investment Management LLC raised its stake in shares of Ulta Beauty by 405.9% during the 4th quarter. Voya Investment Management LLC now owns 631,477 shares of the specialty retailer's stock worth $309,417,000 after buying an additional 506,645 shares during the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of Ulta Beauty during the 2nd quarter worth $207,721,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Ulta Beauty Company Profile

Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.