Ulta Beauty (NASDAQ:ULTA) Earns "Outperform" Rating from Telsey Advisory Group

Ulta Beauty (NASDAQ:ULTA - Get Free Report)'s stock had its "outperform" rating reiterated by Telsey Advisory Group in a report issued on Friday,Benzinga reports. They currently have a $520.00 price target on the specialty retailer's stock. Telsey Advisory Group's price objective would indicate a potential upside of 9.05% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. Oppenheimer raised their target price on shares of Ulta Beauty from $465.00 to $510.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. DA Davidson raised their target price on shares of Ulta Beauty from $485.00 to $550.00 and gave the stock a "buy" rating in a report on Monday, July 7th. BMO Capital Markets lowered their target price on shares of Ulta Beauty from $467.00 to $404.00 and set a "market perform" rating on the stock in a report on Friday, March 14th. Wall Street Zen upgraded shares of Ulta Beauty from a "hold" rating to a "buy" rating in a research report on Saturday, June 28th. Finally, Robert W. Baird increased their price target on shares of Ulta Beauty from $440.00 to $525.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Ulta Beauty currently has a consensus rating of "Moderate Buy" and a consensus price target of $465.04.

Ulta Beauty Stock Up 0.1%

Shares of ULTA stock traded up $0.70 on Friday, reaching $476.84. The stock had a trading volume of 474,112 shares, compared to its average volume of 1,043,671. The firm's 50-day moving average is $445.81 and its two-hundred day moving average is $403.72. The firm has a market capitalization of $21.43 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 2.89 and a beta of 1.08. Ulta Beauty has a 12 month low of $309.01 and a 12 month high of $498.52.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly 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 firm 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 business's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $6.47 EPS. On average, sell-side analysts forecast that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

A number of hedge funds have recently bought and sold shares of the company. Chesley Taft & Associates LLC grew its holdings in Ulta Beauty by 3.0% in the 2nd quarter. Chesley Taft & Associates LLC now owns 834 shares of the specialty retailer's stock worth $390,000 after acquiring an additional 24 shares during the last quarter. Wambolt & Associates LLC lifted 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 purchasing an additional 26 shares during the period. Westside Investment Management Inc. lifted its position 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 purchasing an additional 27 shares during the period. RWA Wealth Partners LLC lifted 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 during the period. Finally, Procyon Advisors LLC lifted 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 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.