Piper Sandler Raises Ulta Beauty (NASDAQ:ULTA) Price Target to $394.00

Ulta Beauty (NASDAQ:ULTA) had its target price lifted by equities researchers at Piper Sandler from $390.00 to $394.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Piper Sandler’s target price points to a potential downside of 8.00% from the stock’s previous close.

A number of other brokerages also recently issued reports on ULTA. Deutsche Bank Aktiengesellschaft reduced their price target on Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Oppenheimer upped their target price on Ulta Beauty from $435.00 to $505.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Stifel Nicolaus raised their price target on Ulta Beauty from $395.00 to $455.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Loop Capital upped their price objective on shares of Ulta Beauty from $450.00 to $480.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Canaccord Genuity Group increased their price objective on shares of Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Ulta Beauty currently has a consensus rating of “Hold” and an average price target of $454.43.

Ulta Beauty Trading Down 0.7 %

ULTA opened at $428.27 on Monday. The firm has a market cap of $19.86 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.38 and a beta of 1.28. Ulta Beauty has a 12 month low of $318.17 and a 12 month high of $574.76. The stock has a fifty day moving average price of $399.50 and a 200-day moving average price of $383.42.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the company posted $5.07 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts forecast that Ulta Beauty will post 23.57 EPS for the current year.

Institutional Trading of Ulta Beauty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ULTA. Paladin Wealth LLC purchased a new stake in Ulta Beauty during the 3rd quarter worth approximately $32,000. Sunbelt Securities Inc. lifted its stake in Ulta Beauty by 118.4% during the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 45 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 50 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Ulta Beauty in the third quarter worth $41,000. Finally, American National Bank & Trust bought a new stake in Ulta Beauty in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

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.