TD Cowen Cuts Ulta Beauty (NASDAQ:ULTA) Price Target to $520.00

Ulta Beauty (NASDAQ:ULTA) had its price objective dropped by stock analysts at TD Cowen from $580.00 to $520.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the specialty retailer’s stock. TD Cowen’s target price would indicate a potential upside of 22.48% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Piper Sandler lowered their target price on Ulta Beauty from $665.00 to $595.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Jefferies Financial Group reduced their target price on Ulta Beauty from $610.00 to $585.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Oppenheimer reduced their target price on Ulta Beauty from $600.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 4th. BMO Capital Markets boosted their price objective on Ulta Beauty from $485.00 to $540.00 and gave the stock a “market perform” rating in a research note on Friday, March 15th. Finally, Stifel Nicolaus boosted their price objective on Ulta Beauty from $505.00 to $565.00 and gave the stock a “hold” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $568.29.

Ulta Beauty Trading Up 0.1 %

ULTA stock opened at $424.55 on Thursday. The company has a market capitalization of $20.49 billion, a PE ratio of 16.30, a P/E/G ratio of 1.75 and a beta of 1.30. Ulta Beauty has a 12-month low of $368.02 and a 12-month high of $574.76. The business’s fifty day moving average price is $515.89 and its 200 day moving average price is $467.84.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.49 by $0.59. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the firm posted $6.68 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts predict that Ulta Beauty will post 26.74 EPS for the current fiscal year.

Ulta Beauty announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Ulta Beauty

In related news, Director Catherine Ann Halligan sold 500 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total value of $263,130.00. Following the completion of the sale, the director now directly owns 1,665 shares of the company’s stock, valued at $876,222.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Kecia Steelman sold 20,950 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total value of $11,027,870.50. Following the transaction, the chief operating officer now directly owns 10,494 shares of the company’s stock, valued at $5,523,936.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Catherine Ann Halligan sold 500 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total transaction of $263,130.00. Following the transaction, the director now directly owns 1,665 shares in the company, valued at $876,222.90. The disclosure for this sale can be found here. Insiders sold a total of 24,552 shares of company stock valued at $12,920,326 over the last three months. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Ulta Beauty

Hedge funds have recently bought and sold shares of the company. Koss Olinger Consulting LLC bought a new stake in shares of Ulta Beauty in the first quarter valued at about $5,253,000. SteelPeak Wealth LLC lifted its stake in shares of Ulta Beauty by 24.6% in the first quarter. SteelPeak Wealth LLC now owns 2,959 shares of the specialty retailer’s stock valued at $1,547,000 after buying an additional 585 shares during the period. Romano Brothers AND Company lifted its stake in shares of Ulta Beauty by 3.2% in the first quarter. Romano Brothers AND Company now owns 1,922 shares of the specialty retailer’s stock valued at $1,005,000 after buying an additional 60 shares during the period. Griffin Asset Management Inc. lifted its stake in shares of Ulta Beauty by 2.9% in the first quarter. Griffin Asset Management Inc. now owns 11,071 shares of the specialty retailer’s stock valued at $5,789,000 after buying an additional 317 shares during the period. Finally, WD Rutherford LLC lifted its stake in shares of Ulta Beauty by 66.5% in the first quarter. WD Rutherford LLC now owns 4,233 shares of the specialty retailer’s stock valued at $2,213,000 after buying an additional 1,691 shares during the period. 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.