Ulta Beauty (NASDAQ:ULTA) Given New $712.00 Price Target at Barclays

Key Points

• Barclays raised its price target on Ulta Beauty to $712 (from $680) and kept an "overweight" rating, implying about a 14.15% upside from the current stock price.
• Other brokers have pushed targets even higher (TD Cowen and Piper Sandler at $775, Deutsche Bank $732) while the MarketBeat consensus target is $633.12 and analyst sentiment is mostly positive (1 Strong Buy, 15 Buy, 11 Hold, 1 Sell).
• Ulta traded around $623.74 midday (down $22.60) with a $27.67B market cap; the company reported quarterly EPS of $5.14 beating estimates and revenue of $2.86B, up 12.9% year-over-year.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its price objective lifted by equities researchers at Barclays from $680.00 to $712.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the specialty retailer's stock. Barclays's price objective would suggest a potential upside of 14.15% from the stock's current price.

A number of other brokerages have also recently issued reports on ULTA. Deutsche Bank Aktiengesellschaft set a $732.00 price objective on Ulta Beauty in a report on Thursday, January 8th. TD Cowen upped their price target on Ulta Beauty from $725.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, January 21st. Piper Sandler reissued an "overweight" rating and issued a $775.00 price target on shares of Ulta Beauty in a report on Tuesday, January 27th. Evercore raised their price objective on shares of Ulta Beauty from $640.00 to $660.00 and gave the company an "outperform" rating in a research report on Friday, December 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Ulta Beauty from $600.00 to $606.00 and gave the company an "overweight" rating in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $633.12.

Ulta Beauty Stock Performance

ULTA stock traded down $22.60 during midday trading on Monday, reaching $623.74. 91,474 shares of the company's stock traded hands, compared to its average volume of 513,068. The firm has a market capitalization of $27.67 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 3.01 and a beta of 0.82. The company has a 50-day moving average price of $664.38 and a two-hundred day moving average price of $584.35. Ulta Beauty has a 52 week low of $309.01 and a 52 week high of $714.97.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Focus Partners Wealth grew its position in Ulta Beauty by 231.6% during the 1st quarter. Focus Partners Wealth now owns 3,744 shares of the specialty retailer's stock worth $1,372,000 after acquiring an additional 2,615 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Ulta Beauty by 48.9% in the first quarter. Intech Investment Management LLC now owns 4,795 shares of the specialty retailer's stock worth $1,758,000 after buying an additional 1,574 shares during the period. Sivia Capital Partners LLC bought a new stake in Ulta Beauty during the 2nd quarter valued at $466,000. Assetmark Inc. boosted its position in Ulta Beauty by 295.6% during the 2nd quarter. Assetmark Inc. now owns 178 shares of the specialty retailer's stock valued at $83,000 after buying an additional 133 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Ulta Beauty in the 2nd quarter worth $357,000. 90.39% of the stock is owned by institutional investors.

About Ulta Beauty

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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