Ulta Beauty Inc. (NASDAQ:ULTA) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Ulta Beauty Inc. has received a consensus recommendation of "Hold" from 25 research firms, with 12 buy recommendations and one sell rating.
• The average price target for Ulta Beauty shares is $475.17, with some analysts raising their targets notably to $600.00.
• Ulta Beauty reported $6.70 earnings per share for the last quarter, exceeding estimates, along with a revenue of $2.85 billion, reflecting a 4.5% year-over-year increase.

Ulta Beauty Inc. (NASDAQ:ULTA - Get Free Report) has received a consensus recommendation of "Hold" from the twenty-five research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $475.1739.

Several analysts have weighed in on the company. Oppenheimer lifted their price objective on Ulta Beauty from $510.00 to $600.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Canaccord Genuity Group boosted their price target on Ulta Beauty from $542.00 to $600.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Truist Financial boosted their price target on Ulta Beauty from $364.00 to $386.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price target on Ulta Beauty from $477.00 to $525.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Finally, Piper Sandler restated a "neutral" rating and issued a $437.00 price objective (up from $386.00) on shares of Ulta Beauty in a report on Friday, May 30th.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $521.00 on Monday. The stock's 50 day simple moving average is $488.32 and its two-hundred day simple moving average is $418.47. The stock has a market cap of $23.42 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 3.14 and a beta of 1.12. Ulta Beauty has a fifty-two week low of $309.01 and a fifty-two week high of $534.10.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, beating the consensus estimate of $5.73 by $0.97. The business had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.79 billion. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The business's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $6.47 EPS. On average, analysts predict that Ulta Beauty will post 23.96 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC raised its position in shares of Ulta Beauty by 1.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,165 shares of the specialty retailer's stock valued at $545,000 after buying an additional 21 shares in the last quarter. ORG Partners LLC raised its position in shares of Ulta Beauty by 17.7% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the specialty retailer's stock valued at $72,000 after buying an additional 23 shares in the last quarter. Chesley Taft & Associates LLC raised its position in shares of Ulta Beauty by 3.0% during the 2nd quarter. Chesley Taft & Associates LLC now owns 834 shares of the specialty retailer's stock valued at $390,000 after buying an additional 24 shares in the last quarter. OFI Invest Asset Management raised its position in shares of Ulta Beauty by 6.8% during the 2nd quarter. OFI Invest Asset Management now owns 375 shares of the specialty retailer's stock valued at $175,000 after buying an additional 24 shares in the last quarter. Finally, Richard W. Paul & Associates LLC raised its position in shares of Ulta Beauty by 0.8% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 2,990 shares of the specialty retailer's stock valued at $1,399,000 after buying an additional 24 shares in 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.

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