Ulta Beauty (NASDAQ:ULTA) Given New $585.00 Price Target at Jefferies Financial Group

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its price objective reduced by equities research analysts at Jefferies Financial Group from $610.00 to $585.00 in a report issued on Wednesday, Marketbeat.com reports. The firm currently has a "buy" rating on the specialty retailer's stock. Jefferies Financial Group's price objective suggests a potential upside of 29.73% from the company's current price.

Other analysts also recently issued research reports about the company. Stifel Nicolaus increased their target price on Ulta Beauty from $505.00 to $565.00 and gave the company a "hold" rating in a research note on Friday, March 15th. Evercore ISI cut their price target on Ulta Beauty from $656.00 to $635.00 and set an "outperform" rating for the company in a report on Friday, March 15th. DA Davidson reaffirmed a "buy" rating and issued a $595.00 price target on shares of Ulta Beauty in a report on Friday, March 15th. Telsey Advisory Group reissued an "outperform" rating and issued a $600.00 target price on shares of Ulta Beauty in a report on Friday, March 15th. Finally, Piper Sandler dropped their target price on Ulta Beauty from $665.00 to $595.00 and set an "overweight" rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $570.70.

Ulta Beauty Trading Down 0.8 %

ULTA stock traded down $3.85 during mid-day trading on Wednesday, hitting $450.95. The stock had a trading volume of 875,758 shares, compared to its average volume of 766,362. Ulta Beauty has a 1-year low of $368.02 and a 1-year high of $574.76. The company has a fifty day moving average of $524.02 and a 200 day moving average of $466.60. The stock has a market capitalization of $21.77 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.86 and a beta of 1.30.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.49 by $0.59. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.53 billion. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The firm's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.68 EPS. As a group, sell-side analysts expect that Ulta Beauty will post 26.76 earnings per share for the current fiscal year.

Ulta Beauty announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Activity at Ulta Beauty

In related news, insider Anita Jane Ryan sold 3,102 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total value of $1,629,325.50. Following the completion of the sale, the insider now directly owns 2,705 shares in the company, valued at $1,420,801.25. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Catherine Ann Halligan sold 500 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total value of $263,130.00. Following the completion of the sale, the director now directly owns 1,665 shares in the company, valued at $876,222.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anita Jane Ryan sold 3,102 shares of the company's 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 sale, the insider now directly owns 2,705 shares in the company, valued at approximately $1,420,801.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,552 shares of company stock worth $12,920,326. Company insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Ulta Beauty

Institutional investors and hedge funds have recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC bought a new position in shares of Ulta Beauty during the 4th quarter worth approximately $25,000. Loomis Sayles & Co. L P lifted its position in shares of Ulta Beauty by 364.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer's stock worth $26,000 after buying an additional 51 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Ulta Beauty during the 2nd quarter worth approximately $26,000. Vima LLC bought a new position in shares of Ulta Beauty during the 4th quarter worth approximately $27,000. Finally, BKM Wealth Management LLC bought a new position in shares of Ulta Beauty during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 90.39% of the company's stock.

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.