Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $525.00

Ulta Beauty (NASDAQ:ULTA - Free Report) had its price target boosted by UBS Group from $490.00 to $525.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the specialty retailer's stock.

Other equities analysts have also recently issued reports about the stock. Oppenheimer reissued an "outperform" rating and issued a $465.00 price objective (up from $435.00) on shares of Ulta Beauty in a research note on Tuesday, May 20th. DA Davidson reiterated a "buy" rating and issued a $415.00 price target on shares of Ulta Beauty in a research report on Wednesday, April 16th. BMO Capital Markets reduced their price objective on Ulta Beauty from $467.00 to $404.00 and set a "market perform" rating on the stock in a research note on Friday, March 14th. B. Riley reduced their price objective on Ulta Beauty from $430.00 to $330.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Finally, Truist Financial boosted their price objective on Ulta Beauty from $364.00 to $386.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $454.04.

Ulta Beauty Stock Up 11.4%

NASDAQ ULTA traded up $47.92 during trading on Friday, hitting $469.71. 4,593,456 shares of the stock traded hands, compared to its average volume of 1,051,937. Ulta Beauty has a 12-month low of $309.01 and a 12-month high of $491.98. The firm has a 50-day simple moving average of $384.70 and a 200-day simple moving average of $388.02. The company has a market capitalization of $21.21 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $2.79 billion. During the same period in the prior year, the company earned $6.47 EPS. The company's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts predict that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Insider Buying and Selling at Ulta Beauty

In other news, insider Jodi J. Caro sold 902 shares of Ulta Beauty stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 owns 7,632 shares of the company's stock, valued at approximately $2,817,429.12. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Investment Partners LLC boosted its position in Ulta Beauty by 3.9% during the 4th quarter. Cornerstone Investment Partners LLC now owns 665 shares of the specialty retailer's stock valued at $289,000 after acquiring an additional 25 shares in the last quarter. Wambolt & Associates LLC grew its position 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 buying an additional 26 shares during the last quarter. Westside Investment Management Inc. increased its position in shares of Ulta Beauty by 32.5% during the first quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer's stock worth $40,000 after purchasing an additional 27 shares in the last quarter. RWA Wealth Partners LLC boosted its position in shares of Ulta Beauty by 1.5% in 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 in the last quarter. Finally, Procyon Advisors LLC boosted its position in shares of Ulta Beauty by 4.3% in 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 in the last quarter. Institutional investors 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.