Oppenheimer Issues Positive Forecast for Ulta Beauty (NASDAQ:ULTA) Stock Price

Ulta Beauty (NASDAQ:ULTA) had its price target raised by stock analysts at Oppenheimer from $510.00 to $600.00 in a report issued on Tuesday, MarketBeat.com reports. The firm currently has an “outperform” rating on the specialty retailer’s stock. Oppenheimer’s price target points to a potential upside of 15.16% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lifted their price target on Ulta Beauty from $460.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Citigroup boosted their price target on Ulta Beauty from $425.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, May 30th. Argus downgraded Ulta Beauty from a “buy” rating to a “hold” rating in a report on Monday, April 14th. Wall Street Zen downgraded Ulta Beauty from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Canaccord Genuity Group boosted their price target on Ulta Beauty from $542.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Ulta Beauty has an average rating of “Hold” and an average price target of $475.17.

Ulta Beauty Price Performance

Shares of NASDAQ ULTA traded down $5.18 during mid-day trading on Tuesday, hitting $521.00. 495,402 shares of the stock traded hands, compared to its average volume of 574,970. The company has a market cap of $23.42 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 3.17 and a beta of 1.12. Ulta Beauty has a twelve month low of $309.01 and a twelve month high of $534.10. The firm has a 50 day simple moving average of $488.32 and a two-hundred day simple moving average of $418.41.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the company posted $6.47 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cerity Partners LLC raised its holdings in Ulta Beauty by 3.8% in the 4th quarter. Cerity Partners LLC now owns 7,118 shares of the specialty retailer’s stock valued at $2,871,000 after acquiring an additional 262 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Ulta Beauty in the 4th quarter valued at about $28,146,000. Sterling Capital Management LLC raised its holdings in Ulta Beauty by 4.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,043 shares of the specialty retailer’s stock valued at $454,000 after acquiring an additional 42 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new stake in Ulta Beauty in the 4th quarter valued at about $259,000. Finally, Mariner LLC raised its holdings in Ulta Beauty by 14.0% in the 4th quarter. Mariner LLC now owns 6,170 shares of the specialty retailer’s stock valued at $2,684,000 after acquiring an additional 759 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Ulta Beauty Company Profile

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.