Ulta Beauty (NASDAQ:ULTA) Stock Price Up 2.1%

Ulta Beauty, Inc. (NASDAQ:ULTA)’s stock price was up 2.1% during mid-day trading on Tuesday . The company traded as high as $404.63 and last traded at $402.03. Approximately 375,862 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 943,132 shares. The stock had previously closed at $393.84.

Wall Street Analyst Weigh In

ULTA has been the topic of several research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $356.00 price target (down previously from $404.00) on shares of Ulta Beauty in a research report on Friday, August 30th. The Goldman Sachs Group decreased their price target on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating for the company in a report on Monday, August 12th. DA Davidson cut their target price on shares of Ulta Beauty from $507.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Bank of America lowered their target price on Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating for the company in a report on Friday, August 30th. Finally, TD Cowen lowered Ulta Beauty from a “buy” rating to a “hold” rating and set a $395.00 price objective for the company. in a research report on Monday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $425.29.

Ulta Beauty Stock Performance

The stock has a market capitalization of $19.11 billion, a PE ratio of 15.68, a P/E/G ratio of 2.22 and a beta of 1.31. The firm has a 50 day moving average of $367.99 and a 200-day moving average of $405.89.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the business posted $6.02 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts predict that Ulta Beauty, Inc. will post 23.21 earnings per share for the current year.

Insider Buying and Selling at Ulta Beauty

In other news, Director Catherine Ann Halligan sold 100 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total transaction of $39,008.00. Following the completion of the sale, the director now directly owns 2,017 shares of the company’s stock, valued at approximately $786,791.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Anchor Investment Management LLC increased its position in Ulta Beauty by 191.2% during the second quarter. Anchor Investment Management LLC now owns 198 shares of the specialty retailer’s stock worth $76,000 after buying an additional 130 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Ulta Beauty in the second quarter valued at approximately $8,759,000. University of Texas Texas AM Investment Management Co. increased its stake in Ulta Beauty by 90.9% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 168 shares of the specialty retailer’s stock valued at $65,000 after acquiring an additional 80 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of Ulta Beauty by 6.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,055 shares of the specialty retailer’s stock valued at $407,000 after acquiring an additional 60 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of Ulta Beauty in the 2nd quarter worth approximately $1,500,000. 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.