Wells Fargo & Company Lowers Ulta Beauty (NASDAQ:ULTA) Price Target to $310.00

Ulta Beauty (NASDAQ:ULTA) had its target price reduced by Wells Fargo & Company from $360.00 to $310.00 in a report issued on Friday morning,Benzinga reports. They currently have an underweight rating on the specialty retailer’s stock.

Several other equities research analysts also recently commented on the stock. Morgan Stanley reduced their target price on shares of Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating on the stock in a research note on Friday. Canaccord Genuity Group boosted their target price on shares of Ulta Beauty from $500.00 to $538.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. B. Riley reduced their target price on shares of Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday. UBS Group boosted their target price on shares of Ulta Beauty from $470.00 to $490.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Piper Sandler reduced their target price on shares of Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $431.13.

Ulta Beauty Price Performance

ULTA opened at $357.48 on Friday. Ulta Beauty has a fifty-two week low of $309.01 and a fifty-two week high of $546.58. The firm’s fifty day moving average price is $385.01 and its two-hundred day moving average price is $386.69. The company has a market capitalization of $16.58 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.89 and a beta of 1.34.

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

Institutional Trading of Ulta Beauty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in Ulta Beauty by 28.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 166 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 37 shares during the last quarter. Integrated Investment Consultants LLC bought a new stake in Ulta Beauty during the 3rd quarter worth about $4,480,000. Thrivent Financial for Lutherans increased its stake in shares of Ulta Beauty by 382.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 10,698 shares of the specialty retailer’s stock valued at $4,163,000 after acquiring an additional 8,481 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Ulta Beauty by 11.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,531 shares of the specialty retailer’s stock valued at $6,822,000 after acquiring an additional 1,768 shares during the last quarter. Finally, Blueshift Asset Management LLC increased its stake in shares of Ulta Beauty by 1,052.6% in the 3rd quarter. Blueshift Asset Management LLC now owns 8,218 shares of the specialty retailer’s stock valued at $3,198,000 after acquiring an additional 7,505 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

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.