Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $525.00 at Robert W. Baird

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its price target raised by stock analysts at Robert W. Baird from $440.00 to $525.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the specialty retailer's stock. Robert W. Baird's target price suggests a potential upside of 11.77% from the stock's previous close.

Several other research analysts also recently weighed in on ULTA. B. Riley reduced their price target on shares of Ulta Beauty from $430.00 to $330.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. The Goldman Sachs Group upgraded shares of Ulta Beauty from a "neutral" rating to a "buy" rating and upped their price target for the stock from $384.00 to $423.00 in a research report on Tuesday, April 1st. Evercore ISI upped their price target on shares of Ulta Beauty from $465.00 to $490.00 and gave the stock an "outperform" rating in a research report on Friday. Telsey Advisory Group upped their price target on shares of Ulta Beauty from $460.00 to $520.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Piper Sandler restated a "neutral" rating and set a $437.00 price target (up previously from $386.00) on shares of Ulta Beauty in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $454.04.

Ulta Beauty Trading Up 11.4%

Shares of Ulta Beauty stock 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 stock's 50 day moving average is $384.70 and its 200 day moving average is $388.06. The firm has a market capitalization of $21.21 billion, a PE ratio of 18.80, a PEG ratio of 0.89 and a beta of 1.06. Ulta Beauty has a twelve month low of $309.01 and a twelve month high of $491.98.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, topping analysts' consensus estimates of $5.73 by $0.97. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The company's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.47 earnings per share. As a group, sell-side analysts predict that Ulta Beauty will post 23.96 earnings per share for the current year.

Insider Activity

In other news, insider Jodi J. Caro sold 902 shares of the 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 sale, the insider now owns 7,632 shares of the company's stock, valued at $2,817,429.12. This represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.17% of the company's stock.

Institutional Trading of Ulta Beauty

Hedge funds have recently made changes to their positions in the company. Prestige Wealth Management Group LLC grew its stake in shares of Ulta Beauty by 121.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock valued at $27,000 after buying an additional 34 shares during the period. American National Bank & Trust purchased a new position in shares of Ulta Beauty during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new position in shares of Ulta Beauty during the 1st quarter worth approximately $31,000. Rakuten Securities Inc. boosted its position in shares of Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after purchasing an additional 59 shares during the period. Finally, Edge Capital Group LLC purchased a new position in shares of Ulta Beauty during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors 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.