Oppenheimer Lowers Ulta Beauty (NASDAQ:ULTA) Price Target to $450.00

Ulta Beauty (NASDAQ:ULTA) had its price objective lowered by equities researchers at Oppenheimer from $475.00 to $450.00 in a report released on Monday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Oppenheimer’s price target suggests a potential upside of 9.84% from the company’s current price.

ULTA has been the topic of several other research reports. StockNews.com cut shares of Ulta Beauty from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. The Goldman Sachs Group reduced their target price on Ulta Beauty from $605.00 to $476.00 and set a “neutral” rating on the stock in a report on Tuesday, May 14th. JPMorgan Chase & Co. boosted their price target on Ulta Beauty from $530.00 to $544.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Citigroup reduced their price objective on Ulta Beauty from $485.00 to $400.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Finally, Loop Capital upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $540.00 target price for the company in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $502.61.

Ulta Beauty Stock Performance

Shares of ULTA opened at $409.70 on Monday. Ulta Beauty has a one year low of $368.02 and a one year high of $574.76. The stock has a 50-day moving average price of $390.24 and a 200 day moving average price of $455.35. The company has a market capitalization of $19.55 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.80 and a beta of 1.37.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 EPS for the quarter, beating the consensus estimate of $6.19 by $0.28. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.88 EPS. As a group, equities research analysts forecast that Ulta Beauty will post 25.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Ulta Beauty

In other news, Director Catherine Ann Halligan sold 100 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the completion of the transaction, the director now directly owns 2,017 shares in the company, valued at $786,791.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Catherine Ann Halligan sold 100 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total value of $39,008.00. Following the completion of the sale, the director now owns 2,017 shares in the company, valued at $786,791.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total value of $252,642.00. Following the transaction, the insider now directly owns 6,801 shares in the company, valued at $2,643,412.68. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ULTA. AdvisorNet Financial Inc raised its holdings in Ulta Beauty by 5.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 695 shares of the specialty retailer’s stock worth $268,000 after buying an additional 33 shares during the period. Tsfg LLC increased its position in shares of Ulta Beauty by 1,065.0% in the second quarter. Tsfg LLC now owns 466 shares of the specialty retailer’s stock worth $180,000 after acquiring an additional 426 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Ulta Beauty by 30.3% during the second quarter. V Square Quantitative Management LLC now owns 1,306 shares of the specialty retailer’s stock valued at $504,000 after acquiring an additional 304 shares during the period. Great Valley Advisor Group Inc. lifted its position in shares of Ulta Beauty by 3.7% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 1,390 shares of the specialty retailer’s stock valued at $537,000 after acquiring an additional 49 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its stake in Ulta Beauty by 3.2% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 2,641 shares of the specialty retailer’s stock worth $1,019,000 after purchasing an additional 81 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.