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

Key Points

• Telsey Advisory Group raised its target on Ulta Beauty from $640 to $715 and kept an "outperform" rating, implying roughly a 10.6% upside from the prior close.
• Ulta posted strong quarterly results—EPS of $5.14 (vs. $4.61 expected) and revenue of $2.86B (vs. $2.70B expected)—with 12.9% YoY revenue growth and a 46.33% return on equity, reinforcing analyst optimism.
• The stock trades around $646.34 with a market cap of about $28.7B, consensus analyst rating of "Moderate Buy" (average target ~$629.84), and high institutional ownership (~90%).

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its target price lifted by stock analysts at Telsey Advisory Group from $640.00 to $715.00 in a research note issued to investors on Monday, Marketbeat reports. The firm currently has an "outperform" rating on the specialty retailer's stock. Telsey Advisory Group's target price would suggest a potential upside of 10.62% from the stock's previous close.

A number of other equities analysts also recently issued reports on ULTA. Weiss Ratings reiterated a "hold (c)" rating on shares of Ulta Beauty in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft set a $732.00 price objective on Ulta Beauty in a research note on Thursday, January 8th. Argus lifted their target price on Ulta Beauty from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Friday, January 2nd. TD Cowen upped their price target on Ulta Beauty from $725.00 to $775.00 and gave the stock a "buy" rating in a report on Wednesday, January 21st. Finally, Robert W. Baird set a $700.00 price target on Ulta Beauty in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $629.84.

Ulta Beauty Trading Down 1.1%

ULTA opened at $646.34 on Monday. Ulta Beauty has a 1-year low of $309.01 and a 1-year high of $714.97. The company has a market cap of $28.67 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 3.01 and a beta of 0.82. The company's fifty day moving average price is $664.38 and its two-hundred day moving average price is $584.35.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings data on Thursday, December 4th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.61 by $0.53. Ulta Beauty had a net margin of 9.93% and a return on equity of 46.33%. The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.70 billion. During the same period last year, the company earned $5.14 earnings per share. The business's revenue was up 12.9% on a year-over-year basis. As a group, equities analysts forecast that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Institutional Trading of Ulta Beauty

A number of hedge funds have recently bought and sold shares of ULTA. Fideuram Asset Management Ireland dac purchased a new stake in shares of Ulta Beauty during the 4th quarter valued at $25,000. Strengthening Families & Communities LLC boosted its holdings in shares of Ulta Beauty by 4,200.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 43 shares of the specialty retailer's stock worth $26,000 after buying an additional 42 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Ulta Beauty during the third quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. grew its position in Ulta Beauty by 2,550.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 53 shares of the specialty retailer's stock valued at $32,000 after buying an additional 51 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Ulta Beauty by 107.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 54 shares of the specialty retailer's stock worth $25,000 after buying an additional 28 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

Ulta Beauty Company Profile

Ulta Beauty, Inc NASDAQ: ULTA is a U.S.-based specialty retailer and beauty services provider focused on cosmetics, fragrance, skin care, hair care, bath and body, and beauty tools. The company operates a dual-format business that combines brick-and-mortar retail stores with an e-commerce platform, offering a broad assortment of national, prestige and mass-market brands alongside its own private-label products. In many locations Ulta also provides full-service salon treatments, positioning the company as a one-stop destination for product discovery and in-store services.

The retailer's product mix spans color cosmetics, haircare and styling products, skin and body care, fragrance, and accessories, catering to a wide range of consumer preferences and price points.

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