Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $510.00

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its price objective hoisted by stock analysts at Oppenheimer from $465.00 to $510.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the specialty retailer's stock. Oppenheimer's target price would indicate a potential upside of 7.22% from the company's previous close.

ULTA has been the topic of a number of other reports. Truist Financial increased their price objective on shares of Ulta Beauty from $364.00 to $386.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Citigroup boosted their price target on Ulta Beauty from $425.00 to $450.00 and gave the company a "neutral" rating in a research report on Friday. Stifel Nicolaus reduced their target price on shares of Ulta Beauty from $475.00 to $400.00 and set a "hold" rating on the stock in a report on Friday, March 14th. Raymond James restated 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. Finally, Robert W. Baird upped their target price on Ulta Beauty from $440.00 to $525.00 and gave the company an "outperform" rating in a research report on Friday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $460.91.

Ulta Beauty Trading Up 0.9%

Ulta Beauty stock traded up $4.21 during mid-day trading on Friday, hitting $475.67. The company's stock had a trading volume of 1,312,855 shares, compared to its average volume of 1,052,973. The firm has a market capitalization of $21.48 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. Ulta Beauty has a 1 year low of $309.01 and a 1 year high of $491.98. The stock's fifty day moving average is $384.70 and its two-hundred day moving average is $388.06.

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 (EPS) for the quarter, topping the consensus estimate of $5.73 by $0.97. The business had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.79 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $6.47 EPS. On average, equities analysts expect that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jodi J. Caro sold 902 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total value of $332,982.32. Following the completion of the sale, the insider now owns 7,632 shares in the company, valued at $2,817,429.12. This trade represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company's stock.

Institutional Trading of Ulta Beauty

A number of hedge funds have recently made changes to their positions in the stock. Prestige Wealth Management Group LLC lifted its position in Ulta Beauty by 121.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 34 shares during the period. American National Bank & Trust bought a new stake in Ulta Beauty in the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new position in shares of Ulta Beauty during the 1st quarter worth about $31,000. Rakuten Securities Inc. increased 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 purchasing an additional 59 shares in the last quarter. Finally, Edge Capital Group LLC bought a new position in shares of Ulta Beauty in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Ulta Beauty Company Profile

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.