Piper Sandler Lowers Ulta Beauty (NASDAQ:ULTA) Price Target to $364.00

Ulta Beauty (NASDAQ:ULTAGet Free Report) had its target price cut by investment analysts at Piper Sandler from $425.00 to $364.00 in a report issued on Friday, MarketBeat reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Piper Sandler’s price target indicates a potential upside of 1.82% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Canaccord Genuity Group boosted their price objective on Ulta Beauty from $500.00 to $538.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Oppenheimer boosted their price target on shares of Ulta Beauty from $505.00 to $515.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. UBS Group increased their price objective on shares of Ulta Beauty from $470.00 to $490.00 and gave the stock a “buy” rating in a report on Friday, December 6th. TD Cowen boosted their target price on shares of Ulta Beauty from $450.00 to $480.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley raised Ulta Beauty from an “equal weight” rating to an “overweight” rating in a report on Wednesday, February 19th. 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $431.13.

View Our Latest Analysis on ULTA

Ulta Beauty Price Performance

ULTA stock opened at $357.48 on Friday. The firm has a market cap of $16.58 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.89 and a beta of 1.34. Ulta Beauty has a 1-year low of $309.01 and a 1-year high of $544.36. The firm has a fifty day moving average price of $385.01 and a two-hundred day moving average price of $386.80.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last announced its quarterly earnings data on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share for the quarter, beating 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 business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the firm earned $8.08 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, analysts expect that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

A number of hedge funds have recently modified their holdings of the stock. Cornerstone Investment Partners LLC boosted its position in shares of Ulta Beauty by 3.9% in the 4th quarter. Cornerstone Investment Partners LLC now owns 665 shares of the specialty retailer’s stock valued at $289,000 after purchasing an additional 25 shares during the period. RWA Wealth Partners LLC lifted its stake in Ulta Beauty by 1.5% during the fourth quarter. RWA Wealth Partners LLC now owns 1,867 shares of the specialty retailer’s stock valued at $812,000 after buying an additional 28 shares in the last quarter. Lido Advisors LLC boosted its holdings in shares of Ulta Beauty by 5.0% in the fourth quarter. Lido Advisors LLC now owns 626 shares of the specialty retailer’s stock worth $272,000 after buying an additional 30 shares during the period. Colonial Trust Co SC increased its position in shares of Ulta Beauty by 36.9% in the fourth quarter. Colonial Trust Co SC now owns 115 shares of the specialty retailer’s stock worth $50,000 after acquiring an additional 31 shares in the last quarter. Finally, Stonegate Investment Group LLC raised its holdings in shares of Ulta Beauty by 0.5% during the fourth quarter. Stonegate Investment Group LLC now owns 6,623 shares of the specialty retailer’s stock valued at $2,881,000 after acquiring an additional 34 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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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