Ulta Beauty (NASDAQ:ULTA) Given New $525.00 Price Target at Oppenheimer

Ulta Beauty (NASDAQ:ULTA) had its price target cut by analysts at Oppenheimer from $540.00 to $525.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the specialty retailer’s stock. Oppenheimer’s price target suggests a potential upside of 29.57% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley reduced their price target on shares of Ulta Beauty from $520.00 to $480.00 and set an “equal weight” rating for the company in a report on Monday, August 28th. Citigroup boosted their price objective on Ulta Beauty from $460.00 to $475.00 and gave the company a “neutral” rating in a report on Friday, August 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Ulta Beauty from $570.00 to $571.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Piper Sandler lowered their price objective on shares of Ulta Beauty from $575.00 to $540.00 in a report on Tuesday, October 10th. Finally, Raymond James reduced their price objective on shares of Ulta Beauty from $550.00 to $500.00 and set a “strong-buy” rating for the company in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ulta Beauty has a consensus rating of “Moderate Buy” and a consensus price target of $529.70.

Ulta Beauty Stock Performance

Shares of ULTA stock traded down $0.42 on Tuesday, hitting $405.19. The company had a trading volume of 226,240 shares, compared to its average volume of 762,878. The stock’s 50-day moving average is $392.70 and its two-hundred day moving average is $431.69. The firm has a market cap of $19.95 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.79 and a beta of 1.36. Ulta Beauty has a twelve month low of $368.02 and a twelve month high of $556.60.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.85 by $0.17. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Ulta Beauty had a net margin of 11.77% and a return on equity of 63.51%. Ulta Beauty’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $5.70 earnings per share. Equities research analysts predict that Ulta Beauty will post 25.45 EPS for the current year.

Institutional Investors Weigh In On Ulta Beauty

Several institutional investors have recently added to or reduced their stakes in ULTA. WealthPlan Investment Management LLC purchased a new position in shares of Ulta Beauty in the second quarter valued at $26,000. BOKF NA purchased a new position in Ulta Beauty during the 1st quarter valued at about $30,000. Coppell Advisory Solutions LLC bought a new stake in shares of Ulta Beauty during the second quarter valued at about $26,000. Ancora Advisors LLC purchased a new stake in shares of Ulta Beauty in the first quarter worth about $31,000. Finally, Fortis Capital Advisors LLC bought a new position in shares of Ulta Beauty in the first quarter valued at approximately $31,000. 92.30% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Company Profile

Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.