Brokerages Set Ulta Beauty, Inc. (NASDAQ:ULTA) Price Target at $548.05

Ulta Beauty, Inc. (NASDAQ:ULTAGet Free Report) has earned an average rating of “Moderate Buy” from the twenty research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $548.05.

Several equities analysts have recently commented on ULTA shares. BMO Capital Markets boosted their price objective on Ulta Beauty from $485.00 to $540.00 and gave the company a “market perform” rating in a research report on Friday, March 15th. Wells Fargo & Company cut their target price on Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 24th. Telsey Advisory Group reissued an “outperform” rating and issued a $600.00 price objective on shares of Ulta Beauty in a research note on Friday, March 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Ulta Beauty from $574.00 to $627.00 in a research note on Friday, March 15th. Finally, Jefferies Financial Group restated a “hold” rating and set a $438.00 target price (down previously from $585.00) on shares of Ulta Beauty in a report on Friday, April 19th.

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Insider Transactions at Ulta Beauty

In other news, insider Anita Jane Ryan sold 3,102 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the transaction, the insider now directly owns 2,705 shares in the company, valued at approximately $1,420,801.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Catherine Ann Halligan sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total value of $263,130.00. Following the transaction, the director now directly owns 1,665 shares in the company, valued at $876,222.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anita Jane Ryan sold 3,102 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total value of $1,629,325.50. Following the completion of the sale, the insider now directly owns 2,705 shares in the company, valued at approximately $1,420,801.25. The disclosure for this sale can be found here. Insiders have sold a total of 24,552 shares of company stock worth $12,920,326 in the last ninety days. Insiders own 0.34% of the company’s stock.

Institutional Trading of Ulta Beauty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ULTA. Asset Management One Co. Ltd. increased its holdings in Ulta Beauty by 1.8% in the third quarter. Asset Management One Co. Ltd. now owns 23,891 shares of the specialty retailer’s stock valued at $9,543,000 after buying an additional 419 shares during the last quarter. Ballentine Partners LLC acquired a new position in Ulta Beauty in the third quarter valued at $215,000. Commonwealth Equity Services LLC boosted its stake in Ulta Beauty by 20.9% in the third quarter. Commonwealth Equity Services LLC now owns 15,756 shares of the specialty retailer’s stock valued at $6,294,000 after acquiring an additional 2,725 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Ulta Beauty by 10.6% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,602 shares of the specialty retailer’s stock valued at $5,833,000 after acquiring an additional 1,400 shares in the last quarter. Finally, RMR Wealth Builders boosted its stake in shares of Ulta Beauty by 117.3% during the third quarter. RMR Wealth Builders now owns 2,108 shares of the specialty retailer’s stock worth $842,000 after buying an additional 1,138 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Price Performance

Shares of ULTA opened at $397.33 on Tuesday. Ulta Beauty has a one year low of $368.02 and a one year high of $574.76. The firm has a market capitalization of $19.05 billion, a P/E ratio of 15.25, a PEG ratio of 1.66 and a beta of 1.36. The business has a fifty day moving average of $489.34 and a 200 day moving average of $468.82.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last issued its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 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 company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the previous year, the company posted $6.68 earnings per share. Ulta Beauty’s revenue was up 10.2% compared to the same quarter last year. Analysts expect that Ulta Beauty will post 26.55 EPS for the current fiscal year.

Ulta Beauty declared that its Board of Directors has authorized a stock buyback program on Thursday, March 14th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

About Ulta Beauty

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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.

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Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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