Ulta Beauty (NASDAQ:ULTA) Downgraded by Wall Street Zen to "Hold"

Key Points

• Ulta Beauty has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, while others like Morgan Stanley and JPMorgan Chase maintain higher target prices of $550.00 and $525.00 respectively.
• The company reported strong quarterly earnings, with an EPS of $6.70, exceeding estimates by $0.97 and showing a 4.5% year-over-year revenue growth.
• Hedge funds and institutional investors own 90.39% of Ulta Beauty's stock, signaling strong confidence from major financial stakeholders.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Several other research analysts have also commented on the company. Canaccord Genuity Group raised 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. Raymond James Financial reiterated an "outperform" rating and issued a $500.00 target price (up from $450.00) on shares of Ulta Beauty in a research note on Friday, May 30th. Morgan Stanley boosted their target price on Ulta Beauty from $460.00 to $550.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Evercore ISI boosted their target price on Ulta Beauty from $465.00 to $490.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Finally, Loop Capital restated a "hold" rating and issued a $510.00 price target on shares of Ulta Beauty in a report on Friday, July 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $469.09.

Ulta Beauty Stock Down 1.4%

Ulta Beauty stock traded down $7.28 during midday trading on Friday, reaching $507.73. 609,772 shares of the stock traded hands, compared to its average volume of 577,379. The stock's fifty day moving average is $475.19 and its 200-day moving average is $411.51. Ulta Beauty has a 12 month low of $309.01 and a 12 month high of $523.68. The stock has a market cap of $22.82 billion, a P/E ratio of 19.83, a PEG ratio of 3.07 and a beta of 1.12.

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

Institutional Trading of Ulta Beauty

Several institutional investors have recently bought and sold shares of the business. Hemington Wealth Management boosted its stake in Ulta Beauty by 142.9% during the second quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer's stock worth $31,000 after buying an additional 40 shares during the last quarter. American National Bank & Trust acquired a new position in Ulta Beauty during the 1st quarter worth $29,000. Wayfinding Financial LLC acquired a new position in Ulta Beauty during the 1st quarter worth $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 acquiring an additional 59 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its position in shares of Ulta Beauty by 71.4% during the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 40 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

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.