Telsey Advisory Group Forecasts Strong Price Appreciation for Ulta Beauty (NASDAQ:ULTA) Stock

Key Points

• Telsey Advisory Group has increased Ulta Beauty's price target from $590.00 to $610.00, indicating a potential upside of 23.80% based on the stock's previous close.
• Recent earnings results show Ulta Beauty surpassed analyst expectations with earnings per share of $5.78 and a revenue of $2.79 billion for the latest quarter.
• Thirteen analysts have rated Ulta Beauty as a Buy, while the company holds an average rating of "Hold" and a consensus target price of $535.58.

Ulta Beauty (NASDAQ:ULTA - Free Report) had its price target hoisted by Telsey Advisory Group from $590.00 to $610.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the specialty retailer's stock. Telsey Advisory Group also issued estimates for Ulta Beauty's Q3 2026 earnings at $4.39 EPS, Q4 2026 earnings at $7.40 EPS, FY2026 earnings at $24.30 EPS, Q1 2027 earnings at $7.38 EPS, Q3 2027 earnings at $4.98 EPS and FY2027 earnings at $26.88 EPS.

Several other equities research analysts have also issued reports on ULTA. Truist Financial increased their target price on shares of Ulta Beauty from $364.00 to $386.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. UBS Group lifted their price objective on shares of Ulta Beauty from $640.00 to $680.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Jefferies Financial Group boosted their price objective on Ulta Beauty from $425.00 to $550.00 and gave the stock a "hold" rating in a research note on Tuesday, August 26th. Canaccord Genuity Group set a $650.00 price objective on shares of Ulta Beauty in a research note on Friday, August 29th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $605.00 target price (up previously from $580.00) on shares of Ulta Beauty in a research note on Friday, August 29th. Fourteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Ulta Beauty presently has a consensus rating of "Hold" and an average target price of $543.13.

Ulta Beauty Trading Down 2.8%

NASDAQ ULTA traded down $14.64 during trading hours on Tuesday, hitting $514.86. 880,236 shares of the company's stock traded hands, compared to its average volume of 894,724. Ulta Beauty has a 52 week low of $309.01 and a 52 week high of $539.00. The firm has a market capitalization of $23.09 billion, a P/E ratio of 19.74, a P/E/G ratio of 2.92 and a beta of 1.06. The business's fifty day moving average price is $503.66 and its two-hundred day moving average price is $431.05.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, topping the consensus estimate of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The business had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter last year, the company posted $5.30 EPS. The company's revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts expect that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

Several large investors have recently modified their holdings of ULTA. Lido Advisors LLC lifted its position in Ulta Beauty by 5.0% during the fourth quarter. Lido Advisors LLC now owns 626 shares of the specialty retailer's stock valued at $272,000 after acquiring an additional 30 shares during the last quarter. Aptus Capital Advisors LLC acquired a new position in shares of Ulta Beauty in the fourth quarter valued at about $398,000. Baird Financial Group Inc. raised its position in Ulta Beauty by 19.4% during the 4th quarter. Baird Financial Group Inc. now owns 22,194 shares of the specialty retailer's stock worth $9,653,000 after buying an additional 3,605 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in Ulta Beauty in the fourth quarter valued at $2,799,000. Finally, Captrust Financial Advisors raised its stake in shares of Ulta Beauty by 6.8% during the 4th quarter. Captrust Financial Advisors now owns 2,255 shares of the specialty retailer's stock valued at $981,000 after buying an additional 143 shares during the last quarter. 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.