TD Cowen Cuts Ulta Beauty (NASDAQ:ULTA) Price Target to $500.00

Ulta Beauty (NASDAQ:ULTAFree Report) had its price objective reduced by TD Cowen from $520.00 to $500.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the specialty retailer’s stock.

Several other equities research analysts have also commented on ULTA. DA Davidson reissued a buy rating and issued a $595.00 price target on shares of Ulta Beauty in a report on Friday, March 15th. Evercore ISI decreased their target price on shares of Ulta Beauty from $630.00 to $500.00 and set an outperform rating on the stock in a research report on Friday. Morgan Stanley upped their target price on shares of Ulta Beauty from $480.00 to $525.00 and gave the company an equal weight rating in a research report on Friday, March 15th. Jefferies Financial Group reduced their price target on shares of Ulta Beauty from $438.00 to $412.00 and set a hold rating on the stock in a research report on Friday, May 24th. Finally, Loop Capital raised shares of Ulta Beauty from a hold rating to a buy rating and set a $540.00 price target on the stock in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Ulta Beauty has a consensus rating of Moderate Buy and a consensus target price of $507.30.

Check Out Our Latest Stock Analysis on ULTA

Ulta Beauty Trading Up 2.5 %

Shares of NASDAQ ULTA opened at $395.09 on Friday. The company has a 50 day simple moving average of $424.32 and a two-hundred day simple moving average of $471.00. Ulta Beauty has a 12 month low of $368.02 and a 12 month high of $574.76. The stock has a market cap of $18.94 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.67 and a beta of 1.36.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last posted its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.19 by $0.28. Ulta Beauty had a net margin of 11.13% and a return on equity of 59.30%. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same period in the previous year, the business posted $6.88 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. Analysts forecast that Ulta Beauty will post 25.87 EPS for the current year.

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

Insider Transactions at Ulta Beauty

In related news, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 2,705 shares of the company’s stock, valued at $1,420,801.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 2,705 shares of the company’s stock, valued at $1,420,801.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Kecia Steelman sold 20,950 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total value of $11,027,870.50. Following the sale, the chief operating officer now directly owns 10,494 shares of the company’s stock, valued at $5,523,936.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,552 shares of company stock worth $12,920,326. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Ulta Beauty

Hedge funds and other institutional investors have recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new stake in Ulta Beauty in the fourth quarter valued at $25,000. Loomis Sayles & Co. L P increased its position in shares of Ulta Beauty by 364.3% in the third quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 51 shares in the last quarter. Vima LLC purchased a new position in shares of Ulta Beauty in the fourth quarter valued at $27,000. BKM Wealth Management LLC purchased a new position in shares of Ulta Beauty in the fourth quarter valued at $28,000. Finally, VisionPoint Advisory Group LLC increased its position in shares of Ulta Beauty by 7,300.0% in the third quarter. VisionPoint Advisory Group LLC now owns 74 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

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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