Ulta Beauty (NASDAQ:ULTA) Reaches New 12-Month High - Should You Buy?

Ulta Beauty Inc. (NASDAQ:ULTA - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $500.95 and last traded at $497.41, with a volume of 608724 shares. The stock had previously closed at $493.30.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Robert W. Baird upped their price target on Ulta Beauty from $440.00 to $525.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Canaccord Genuity Group upped their price target on Ulta Beauty from $510.00 to $542.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Citigroup upped their target price on Ulta Beauty from $425.00 to $450.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Raymond James Financial reaffirmed an "outperform" rating and issued a $500.00 target price (up previously from $450.00) on shares of Ulta Beauty in a research note on Friday, May 30th. Finally, Oppenheimer upped their target price on Ulta Beauty from $465.00 to $510.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Ulta Beauty currently has an average rating of "Moderate Buy" and an average price target of $465.04.

Ulta Beauty Price Performance

The stock has a market capitalization of $22.36 billion, a P/E ratio of 19.27, a PEG ratio of 2.99 and a beta of 1.08. The business's 50 day simple moving average is $455.14 and its 200-day simple moving average is $404.92.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, beating the consensus estimate of $5.73 by $0.97. The business had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.47 EPS. Research analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

Large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ulta Beauty by 17.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,092 shares of the specialty retailer's stock valued at $2,190,000 after acquiring an additional 924 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of Ulta Beauty by 14.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer's stock worth $435,000 after buying an additional 152 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of Ulta Beauty during the first quarter worth $201,000. Farther Finance Advisors LLC increased its position in shares of Ulta Beauty by 128.9% during the first quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer's stock worth $275,000 after buying an additional 415 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Ulta Beauty by 26.4% during the fourth quarter. Alliancebernstein L.P. now owns 73,137 shares of the specialty retailer's stock worth $31,809,000 after buying an additional 15,258 shares during the period. 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.

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