Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Ulta Beauty (NASDAQ:ULTA - Free Report) had its price target hoisted by Canaccord Genuity Group from $510.00 to $542.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the specialty retailer's stock.

A number of other research firms have also issued reports on ULTA. B. Riley dropped their target price on shares of Ulta Beauty from $430.00 to $330.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Bank of America lowered their price target on shares of Ulta Beauty from $475.00 to $380.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. JPMorgan Chase & Co. upped their price objective on shares of Ulta Beauty from $477.00 to $525.00 and gave the company an "overweight" rating in a research note on Friday. UBS Group raised their target price on shares of Ulta Beauty from $490.00 to $525.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Argus cut Ulta Beauty from a "buy" rating to a "hold" rating in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Ulta Beauty currently has a consensus rating of "Hold" and an average price target of $454.04.

Ulta Beauty Stock Up 11.4%

Shares of Ulta Beauty stock traded up $47.92 during mid-day trading on Friday, reaching $469.71. 4,593,456 shares of the stock traded hands, compared to its average volume of 1,051,937. The stock has a market capitalization of $21.21 billion, a PE ratio of 18.80, a PEG ratio of 0.89 and a beta of 1.06. The business has a 50-day moving average of $384.70 and a 200 day moving average of $388.02. Ulta Beauty has a fifty-two week low of $309.01 and a fifty-two week high of $491.98.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, topping the consensus estimate of $5.73 by $0.97. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The firm had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.79 billion. During the same period in the previous year, the business earned $6.47 earnings per share. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Ulta Beauty

Several institutional investors and hedge funds have recently bought and sold shares of ULTA. Cornerstone Investment Partners LLC boosted its stake in Ulta Beauty by 3.9% during the fourth quarter. Cornerstone Investment Partners LLC now owns 665 shares of the specialty retailer's stock worth $289,000 after buying an additional 25 shares during the period. Wambolt & Associates LLC lifted its holdings in shares of Ulta Beauty by 1.6% in the 1st quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer's stock worth $626,000 after acquiring an additional 26 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of Ulta Beauty by 32.5% in the 1st quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer's stock worth $40,000 after acquiring an additional 27 shares during the last quarter. RWA Wealth Partners LLC boosted its position in shares of Ulta Beauty by 1.5% during the 4th quarter. RWA Wealth Partners LLC now owns 1,867 shares of the specialty retailer's stock worth $812,000 after purchasing an additional 28 shares during the period. Finally, Procyon Advisors LLC boosted its position in shares of Ulta Beauty by 4.3% during the 1st quarter. Procyon Advisors LLC now owns 707 shares of the specialty retailer's stock worth $259,000 after purchasing an additional 29 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

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.