Ulta Beauty (NASDAQ:ULTA) Price Target Cut to $365.00 by Analysts at Citigroup

Ulta Beauty (NASDAQ:ULTA) had its target price reduced by Citigroup from $405.00 to $365.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Several other analysts also recently issued reports on the company. Bank of America reduced their price objective on Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating on the stock in a research report on Friday. Canaccord Genuity Group dropped their target price on Ulta Beauty from $538.00 to $526.00 and set a “buy” rating for the company in a research note on Friday. TD Cowen upped their target price on Ulta Beauty from $450.00 to $480.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. William Blair lowered Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. Finally, UBS Group upped their target price on Ulta Beauty from $470.00 to $490.00 and gave the company a “buy” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ulta Beauty has an average rating of “Hold” and an average target price of $427.13.

Ulta Beauty Price Performance

Ulta Beauty stock opened at $356.99 on Monday. Ulta Beauty has a 1-year low of $309.01 and a 1-year high of $544.36. The company has a market cap of $16.55 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The stock’s 50 day moving average price is $383.53 and its 200 day moving average price is $386.87.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, topping analysts’ consensus estimates of $7.13 by $1.33. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.47 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. Ulta Beauty’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $8.08 earnings per share. On average, equities research analysts anticipate that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Ulta Beauty by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,199,935 shares of the specialty retailer’s stock valued at $520,587,000 after buying an additional 11,205 shares in the last quarter. Capital World Investors purchased a new position in Ulta Beauty in the fourth quarter valued at about $430,674,000. Ontario Teachers Pension Plan Board purchased a new position in Ulta Beauty in the third quarter valued at about $359,480,000. Deutsche Bank AG grew its stake in Ulta Beauty by 1.4% in the fourth quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer’s stock valued at $285,123,000 after purchasing an additional 9,291 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its stake in Ulta Beauty by 5.4% in the third quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock valued at $237,519,000 after purchasing an additional 31,540 shares in the last quarter. 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.