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

Key Points

• DA Davidson raised its price target for Ulta Beauty from $550 to $585, indicating a potential upside of 13.61% from the current price and maintaining a "buy" rating.
• Ulta Beauty reported earnings of $6.70 per share for the last quarter, exceeding expectations and showing a revenue increase of 4.5% year-over-year.
• The consensus price target among analysts for Ulta Beauty is currently $466.57, with thirteen analysts recommending a "buy" rating.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its price objective upped by analysts at DA Davidson from $550.00 to $585.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the specialty retailer's stock. DA Davidson's price objective suggests a potential upside of 13.61% from the company's current price.

A number of other equities research analysts have also recently weighed in on the company. Citigroup lifted their price target on Ulta Beauty from $425.00 to $450.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Loop Capital restated a "hold" rating and set a $510.00 price target on shares of Ulta Beauty in a report on Friday, July 25th. Barclays lifted their price objective on shares of Ulta Beauty from $327.00 to $485.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. 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 research note on Friday, May 30th. Finally, Wall Street Zen raised shares of Ulta Beauty from a "hold" rating to a "buy" rating in a research report on Saturday, June 28th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Ulta Beauty has an average rating of "Hold" and a consensus price target of $466.57.

Ulta Beauty Trading Down 0.5%

NASDAQ:ULTA traded down $2.52 during mid-day trading on Thursday, hitting $514.91. The company had a trading volume of 275,862 shares, compared to its average volume of 898,919. The business has a fifty day simple moving average of $471.08 and a 200-day simple moving average of $410.00. Ulta Beauty has a 1 year low of $309.01 and a 1 year high of $523.68. The firm has a market capitalization of $23.15 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 3.11 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, beating the consensus estimate of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The company's revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $6.47 earnings per share. As a group, research analysts anticipate that Ulta Beauty will post 23.96 earnings per share for the current year.

Hedge Funds Weigh In On Ulta Beauty

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Ulta Beauty by 17.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,092 shares of the specialty retailer's stock worth $2,190,000 after purchasing an additional 924 shares during the period. Kingswood Wealth Advisors LLC grew its position in Ulta Beauty by 14.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer's stock valued at $435,000 after purchasing an additional 152 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in Ulta Beauty in the first quarter valued at $201,000. Farther Finance Advisors LLC grew its position in Ulta Beauty by 128.9% in the first quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer's stock valued at $275,000 after purchasing an additional 415 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Ulta Beauty by 26.4% in the fourth quarter. Alliancebernstein L.P. now owns 73,137 shares of the specialty retailer's stock valued at $31,809,000 after purchasing an additional 15,258 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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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