Bank of America Raises Ulta Beauty (NASDAQ:ULTA) Price Target to $475.00

Ulta Beauty (NASDAQ:ULTAGet Free Report) had its price target increased by equities researchers at Bank of America from $460.00 to $475.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Bank of America‘s price objective suggests a potential upside of 9.99% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. B. Riley raised Ulta Beauty from a “sell” rating to a “neutral” rating and lifted their price target for the company from $330.00 to $430.00 in a report on Tuesday. UBS Group boosted their target price on Ulta Beauty from $470.00 to $490.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays raised their price objective on Ulta Beauty from $335.00 to $410.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Citigroup increased their target price on Ulta Beauty from $390.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, DA Davidson upped their target price on shares of Ulta Beauty from $435.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $451.43.

Check Out Our Latest Stock Analysis on Ulta Beauty

Ulta Beauty Stock Up 0.1 %

Shares of ULTA stock traded up $0.56 during mid-day trading on Tuesday, hitting $431.86. 1,052,392 shares of the company’s stock were exchanged, compared to its average volume of 730,028. Ulta Beauty has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The stock has a 50-day simple moving average of $398.53 and a two-hundred day simple moving average of $383.10. The stock has a market cap of $20.03 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.38 and a beta of 1.28.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last announced its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, beating the consensus estimate of $4.45 by $0.69. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.50 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the business posted $5.07 EPS. As a group, analysts anticipate that Ulta Beauty will post 23.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

A number of large investors have recently made changes to their positions in the company. National Bank of Canada FI increased its holdings in Ulta Beauty by 16.6% in the 2nd quarter. National Bank of Canada FI now owns 18,392 shares of the specialty retailer’s stock worth $7,065,000 after acquiring an additional 2,619 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Ulta Beauty by 65.9% in the 2nd quarter. Private Advisor Group LLC now owns 10,022 shares of the specialty retailer’s stock worth $3,867,000 after purchasing an additional 3,982 shares during the period. Acadian Asset Management LLC bought a new position in Ulta Beauty during the second quarter valued at $525,000. Caprock Group LLC lifted its stake in shares of Ulta Beauty by 1.7% during the 2nd quarter. Caprock Group LLC now owns 4,328 shares of the specialty retailer’s stock worth $1,670,000 after acquiring an additional 72 shares during the last quarter. Finally, First Foundation Advisors grew its holdings in shares of Ulta Beauty by 45.9% in the second quarter. First Foundation Advisors now owns 162 shares of the specialty retailer’s stock worth $63,000 after purchasing an additional 51 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

Ulta Beauty Company Profile

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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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