Ulta Beauty's (ULTA) Outperform Rating Reiterated at Telsey Advisory Group

Key Points

• Analysts at Telsey Advisory Group have reaffirmed their "outperform" rating on Ulta Beauty (ULTA) with a price target of $610.00, indicating a potential upside of 18.48% from the current stock price.
• Ulta Beauty reported a quarterly EPS of $5.78, exceeding estimates by $0.75, along with a revenue of $2.79 billion, marking a 9.3% increase from the previous year.
• Currently, Ulta Beauty has a diverse range of ratings from analysts, with 14 analysts giving it a Buy rating, and just 1 analyst assigning a Sell rating.

Ulta Beauty (NASDAQ:ULTA - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Telsey Advisory Group in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $610.00 price target on the specialty retailer's stock. Telsey Advisory Group's price target indicates a potential upside of 18.48% from the stock's current price.

Several other research analysts have also issued reports on the stock. Truist Financial increased their price target on shares of Ulta Beauty from $364.00 to $386.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Citigroup increased their price target on shares of Ulta Beauty from $450.00 to $550.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Wall Street Zen upgraded shares of Ulta Beauty from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. DA Davidson increased their price target on shares of Ulta Beauty from $585.00 to $625.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Finally, Jefferies Financial Group raised their price objective on shares of Ulta Beauty from $425.00 to $550.00 and gave the company a "hold" rating in a research note on Tuesday, August 26th. Fourteen analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $543.13.

Ulta Beauty Trading Down 2.8%

NASDAQ:ULTA opened at $514.86 on Monday. The company has a 50-day moving average price of $504.79 and a 200-day moving average price of $433.02. Ulta Beauty has a 12 month low of $309.01 and a 12 month high of $539.00. The stock has a market cap of $23.09 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 2.83 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, topping the consensus estimate of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same period last year, the company posted $5.30 EPS. The company's quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Institutional Trading of Ulta Beauty

A number of large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ulta Beauty by 128.2% in 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 buying an additional 688,267 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Ulta Beauty by 64.8% in 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 buying an additional 366,147 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ulta Beauty by 81.7% in the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock worth $334,871,000 after buying an additional 410,900 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Ulta Beauty by 10.9% in the first quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer's stock worth $298,231,000 after buying an additional 79,666 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Ulta Beauty by 9.4% in the second quarter. Marshall Wace LLP now owns 654,598 shares of the specialty retailer's stock worth $306,234,000 after buying an additional 56,063 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

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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