Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its price objective raised by investment analysts at Evercore ISI from $465.00 to $490.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the specialty retailer's stock. Evercore ISI's price target would indicate a potential upside of 4.32% from the company's current price.
Several other research analysts also recently commented on ULTA. Wells Fargo & Company boosted their price objective on shares of Ulta Beauty from $315.00 to $350.00 and gave the company an "underweight" rating in a research report on Friday. Canaccord Genuity Group boosted their price objective on shares of Ulta Beauty from $510.00 to $542.00 and gave the company a "buy" rating in a research report on Friday. B. Riley lowered their price objective on shares of Ulta Beauty from $430.00 to $330.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Piper Sandler restated a "neutral" rating and set a $437.00 price objective (up from $386.00) on shares of Ulta Beauty in a research report on Friday. Finally, Raymond James restated an "outperform" rating and set a $500.00 price objective (up from $450.00) on shares of Ulta Beauty in a research report on Friday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $454.04.
Read Our Latest Stock Report on ULTA
Ulta Beauty Stock Performance
Shares of NASDAQ ULTA traded up $47.92 during midday trading on Friday, reaching $469.71. The company's stock had a trading volume of 4,593,456 shares, compared to its average volume of 1,051,937. Ulta Beauty has a fifty-two week low of $309.01 and a fifty-two week high of $491.98. The business's 50 day moving average price is $384.70 and its two-hundred day moving average price is $388.06. The company has a market cap of $21.21 billion, a P/E ratio of 18.80, a P/E/G ratio of 0.89 and a beta of 1.06.
Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings results 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 net margin of 10.58% and a return on equity of 51.95%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the previous year, the business earned $6.47 earnings per share. The firm's quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Jodi J. Caro sold 902 shares of the business's stock in a transaction 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 sale, the insider now owns 7,632 shares of the company's stock, valued at $2,817,429.12. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.
Institutional Trading of Ulta Beauty
A number of institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Ulta Beauty by 128.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer's stock valued at $449,021,000 after acquiring an additional 688,267 shares during the last quarter. Geode Capital Management LLC boosted its position in Ulta Beauty by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,199,935 shares of the specialty retailer's stock valued at $520,587,000 after acquiring an additional 11,205 shares during the last quarter. Capital World Investors bought a new stake in Ulta Beauty during the fourth quarter valued at $430,674,000. T. Rowe Price Investment Management Inc. boosted its position in Ulta Beauty by 64.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer's stock valued at $341,453,000 after acquiring an additional 366,147 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ulta Beauty by 81.7% during the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock valued at $334,871,000 after purchasing an additional 410,900 shares during the period. Institutional investors own 90.39% of the company's stock.
About Ulta Beauty
(
Get Free Report)
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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