Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Key Points

• Ulta Beauty's stock price target has been raised from $575.00 to $600.00 by Robert W. Baird, indicating a potential upside of 13.07% from its current price.
• Thirteen investment analysts have rated Ulta's stock as a Buy, with an average price target of $510.13.
• In the most recent quarter, Ulta Beauty reported earnings per share of $5.78, exceeding estimates by $0.75 with revenue reaching $2.79 billion.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) had its price target boosted by equities research analysts at Robert W. Baird from $575.00 to $600.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the specialty retailer's stock. Robert W. Baird's price objective indicates a potential upside of 13.07% from the company's current price.

ULTA has been the topic of a number of other research reports. DA Davidson upped their target price on Ulta Beauty from $550.00 to $585.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Truist Financial upped their target price on Ulta Beauty from $364.00 to $386.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Morgan Stanley upped their target price on Ulta Beauty from $460.00 to $550.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Telsey Advisory Group upped their target price on Ulta Beauty from $520.00 to $590.00 and gave the company an "outperform" rating in a report on Monday. Finally, Jefferies Financial Group upped their target price on Ulta Beauty from $425.00 to $550.00 and gave the company a "hold" rating in a report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $510.13.

Ulta Beauty Trading Down 0.6%

NASDAQ ULTA opened at $530.63 on Friday. The stock's 50-day moving average price is $498.62 and its two-hundred day moving average price is $425.95. The company has a market cap of $23.85 billion, a PE ratio of 20.73, a PEG ratio of 3.20 and a beta of 1.12. Ulta Beauty has a 1 year low of $309.01 and a 1 year high of $538.59.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $0.75. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%.The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.30 EPS. Research analysts forecast that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

A number of large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in Ulta Beauty by 128.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer's stock worth $449,021,000 after purchasing an additional 688,267 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Ulta Beauty by 64.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer's stock worth $341,453,000 after purchasing an additional 366,147 shares during the period. JPMorgan Chase & Co. boosted its position in Ulta Beauty by 81.7% during the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock worth $334,871,000 after purchasing an additional 410,900 shares during the period. Invesco Ltd. boosted its position in Ulta Beauty by 10.9% during the first quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer's stock worth $298,231,000 after purchasing an additional 79,666 shares during the period. Finally, Deutsche Bank AG boosted its position in Ulta Beauty by 1.4% during the fourth quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer's stock worth $285,123,000 after purchasing an additional 9,291 shares during the period. Institutional investors own 90.39% of the company's stock.

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.

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