Oppenheimer Raises Ulta Beauty (NASDAQ:ULTA) Price Target to $600.00

Key Points

• Oppenheimer has increased its price target for Ulta Beauty to $600, suggesting a potential upside of 20.31% from its current price.
• Despite Oppenheimer's bullish stance, other analysts have issued mixed ratings, with Argus downgrading the stock to "hold" and a total of twelve buy ratings against one sell rating.
• Ulta Beauty recently reported a quarterly EPS of $6.70, exceeding expectations and showing a year-over-year revenue growth of 4.5%.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its price target increased by investment analysts at Oppenheimer from $510.00 to $600.00 in a research report issued on Tuesday, August 12th, Marketbeat Ratings reports. The brokerage presently has an "outperform" rating on the specialty retailer's stock. Oppenheimer's price objective indicates a potential upside of 15.83% from the stock's current price.

ULTA has been the topic of a number of other research reports. DA Davidson raised their price objective on shares of Ulta Beauty from $550.00 to $585.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Argus lowered shares of Ulta Beauty from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Raymond James Financial reaffirmed an "outperform" rating and issued a $500.00 price objective (up previously from $450.00) on shares of Ulta Beauty in a report on Friday, May 30th. Piper Sandler reissued a "neutral" rating and set a $437.00 target price (up from $386.00) on shares of Ulta Beauty in a research note on Friday, May 30th. Finally, Loop Capital restated a "hold" rating and set a $510.00 target price on shares of Ulta Beauty in a research report on Friday, July 25th. Twelve investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $475.17.

Ulta Beauty Stock Performance

Shares of Ulta Beauty stock traded up $1.15 during trading on Tuesday, hitting $518.02. 137,180 shares of the company's stock were exchanged, compared to its average volume of 872,491. Ulta Beauty has a 52-week low of $309.01 and a 52-week high of $534.10. The stock has a market capitalization of $23.28 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 3.14 and a beta of 1.12. The business has a 50-day simple moving average of $489.29 and a 200-day simple moving average of $419.20.

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. Ulta Beauty has set its FY 2025 guidance at 22.650-23.200 EPS. On average, equities analysts anticipate that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Cary Street Partners Investment Advisory LLC increased its stake in Ulta Beauty by 107.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 54 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 28 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Ulta Beauty in the 1st quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in shares of Ulta Beauty in the 1st quarter valued at $31,000. Hemington Wealth Management grew its position in shares of Ulta Beauty by 142.9% in the 2nd quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer's stock valued at $31,000 after buying an additional 40 shares during the last quarter. Finally, Rakuten Securities Inc. grew its position in shares of Ulta Beauty by 218.5% in the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

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.