Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, Oppenheimer Analyst Says

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 target price boosted by research analysts at Oppenheimer from $510.00 to $600.00 in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has an "outperform" rating on the specialty retailer's stock. Oppenheimer's target price points to a potential upside of 12.63% from the company's current price.

ULTA has been the subject of a number of other reports. Wells Fargo & Company increased their price objective on Ulta Beauty from $315.00 to $350.00 and gave the company an "underweight" rating in a report on Friday, May 30th. Loop Capital restated a "hold" rating and set a $510.00 price objective on shares of Ulta Beauty in a research report on Friday, July 25th. Argus cut Ulta Beauty from a "buy" rating to a "hold" rating in a report on Monday, April 14th. JPMorgan Chase & Co. raised their price target on shares of Ulta Beauty from $477.00 to $525.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Finally, Raymond James Financial restated an "outperform" rating and issued a $500.00 price target (up previously from $450.00) on shares of Ulta Beauty in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $473.00.

Ulta Beauty Trading Up 3.2%

ULTA traded up $16.69 on Tuesday, reaching $532.71. The stock had a trading volume of 741,703 shares, compared to its average volume of 883,641. The company has a market capitalization of $23.95 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12. The firm has a 50-day moving average of $484.69 and a 200-day moving average of $416.10. Ulta Beauty has a fifty-two week low of $309.01 and a fifty-two week high of $534.10.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.73 by $0.97. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. 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 earned $6.47 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

A number of institutional investors and hedge funds have recently made changes to their positions in ULTA. American National Bank & Trust purchased a new stake in shares of Ulta Beauty in the first quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in Ulta Beauty in the 1st quarter valued at $31,000. Hemington Wealth Management lifted its stake in Ulta Beauty by 142.9% during the 2nd quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer's stock valued at $31,000 after acquiring an additional 40 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after acquiring an additional 59 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in Ulta Beauty by 71.4% during the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds 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.