Citigroup Boosts Ulta Beauty (NASDAQ:ULTA) Price Target to $390.00

Ulta Beauty (NASDAQ:ULTA) had its price target increased by Citigroup from $345.00 to $390.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

A number of other brokerages also recently weighed in on ULTA. JPMorgan Chase & Co. upped their price target on shares of Ulta Beauty from $450.00 to $472.00 and gave the company an “overweight” rating in a report on Monday, October 21st. BMO Capital Markets set a $385.00 target price on shares of Ulta Beauty in a report on Thursday, October 17th. The Goldman Sachs Group dropped their price target on Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. William Blair lowered Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. Finally, Stifel Nicolaus boosted their target price on Ulta Beauty from $385.00 to $395.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $422.58.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA opened at $386.64 on Friday. The stock has a market cap of $18.22 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.16 and a beta of 1.33. Ulta Beauty has a 12 month low of $318.17 and a 12 month high of $574.76. The stock’s 50 day moving average price is $374.12 and its 200 day moving average price is $376.55.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the firm posted $6.02 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts expect that Ulta Beauty will post 23.07 EPS for the current year.

Hedge Funds Weigh In On Ulta Beauty

A number of hedge funds have recently modified their holdings of ULTA. International Assets Investment Management LLC boosted its position in Ulta Beauty by 180,713.0% during the third quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock valued at $481,952,000 after purchasing an additional 1,237,884 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Ulta Beauty during the 3rd quarter valued at about $359,480,000. Holocene Advisors LP grew its stake in shares of Ulta Beauty by 3,246.2% in the 3rd quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock valued at $134,737,000 after buying an additional 335,914 shares in the last quarter. Atreides Management LP acquired a new position in Ulta Beauty in the third quarter worth approximately $73,069,000. Finally, Hsbc Holdings PLC raised its position in Ulta Beauty by 87.3% during the second quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock valued at $130,380,000 after acquiring an additional 157,497 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

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.