Ulta Beauty's (ULTA) Outperform Rating Reaffirmed at Telsey Advisory Group

Ulta Beauty (NASDAQ:ULTA - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Telsey Advisory Group in a research note issued on Thursday,Benzinga reports. They presently have a $520.00 target price on the specialty retailer's stock. Telsey Advisory Group's price objective points to a potential upside of 13.62% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. DA Davidson increased their target price on Ulta Beauty from $415.00 to $485.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Piper Sandler reiterated a "neutral" rating and issued a $437.00 price target (up previously from $386.00) on shares of Ulta Beauty in a research note on Friday, May 30th. JPMorgan Chase & Co. increased their price objective on shares of Ulta Beauty from $477.00 to $525.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Wells Fargo & Company raised their price objective on shares of Ulta Beauty from $315.00 to $350.00 and gave the company an "underweight" rating in a research note on Friday, May 30th. Finally, Evercore ISI lifted their target price on shares of Ulta Beauty from $465.00 to $490.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $462.22.

Ulta Beauty Price Performance

NASDAQ:ULTA traded down $1.43 during mid-day trading on Thursday, hitting $457.66. 834,518 shares of the company's stock were exchanged, compared to its average volume of 1,041,952. The company has a market cap of $20.57 billion, a PE ratio of 17.88, a P/E/G ratio of 2.74 and a beta of 1.09. Ulta Beauty has a one year low of $309.01 and a one year high of $491.98. The business has a fifty day moving average price of $423.67 and a 200 day moving average price of $399.70.

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

Insider Activity at Ulta Beauty

In related news, insider Jodi J. Caro sold 902 shares of the firm's 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 transaction, the insider now owns 7,632 shares of the company's stock, valued at approximately $2,817,429.12. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. LaFleur & Godfrey LLC raised its holdings in Ulta Beauty by 32.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 2,455 shares of the specialty retailer's stock worth $1,068,000 after purchasing an additional 596 shares during the period. IFP Advisors Inc increased its position in Ulta Beauty by 6.5% in the fourth quarter. IFP Advisors Inc now owns 3,481 shares of the specialty retailer's stock worth $1,514,000 after buying an additional 213 shares in the last quarter. Simmons Bank increased its position in Ulta Beauty by 14.1% in the fourth quarter. Simmons Bank now owns 5,124 shares of the specialty retailer's stock worth $2,229,000 after buying an additional 634 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Ulta Beauty by 4.8% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 19,500 shares of the specialty retailer's stock worth $8,481,000 after buying an additional 900 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Ulta Beauty by 6.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 10,587 shares of the specialty retailer's stock valued at $4,605,000 after buying an additional 680 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

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.