Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Ulta Beauty (NASDAQ:ULTA) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $472.00 to $480.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 12.11% from the stock’s previous close.

Several other analysts have also recently commented on ULTA. Piper Sandler raised their target price on shares of Ulta Beauty from $357.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Evercore ISI reduced their price objective on shares of Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, August 26th. TD Cowen lowered their price objective on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Robert W. Baird cut their target price on Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating for the company in a research note on Friday, August 23rd. Finally, BMO Capital Markets set a $385.00 price target on Ulta Beauty in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $438.00.

Ulta Beauty Stock Up 9.0 %

ULTA opened at $428.17 on Friday. Ulta Beauty has a 52 week low of $318.17 and a 52 week high of $574.76. The business has a 50 day moving average price of $374.15 and a two-hundred day moving average price of $376.64. The company has a market cap of $20.18 billion, a PE ratio of 17.13, a P/E/G ratio of 2.30 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping the consensus estimate of $4.45 by $0.69. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business earned $5.07 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that Ulta Beauty will post 23.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CX Institutional increased its position in Ulta Beauty by 107.9% during the second quarter. CX Institutional now owns 867 shares of the specialty retailer’s stock worth $335,000 after buying an additional 450 shares in the last quarter. Optimum Investment Advisors lifted its position in shares of Ulta Beauty by 95.2% in the second quarter. Optimum Investment Advisors now owns 205 shares of the specialty retailer’s stock valued at $79,000 after acquiring an additional 100 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in shares of Ulta Beauty by 2.5% during the second quarter. Gateway Investment Advisers LLC now owns 6,833 shares of the specialty retailer’s stock valued at $2,637,000 after acquiring an additional 168 shares during the last quarter. Czech National Bank increased its position in Ulta Beauty by 6.9% during the 2nd quarter. Czech National Bank now owns 9,135 shares of the specialty retailer’s stock worth $3,525,000 after purchasing an additional 591 shares in the last quarter. Finally, RFG Advisory LLC increased its position in Ulta Beauty by 35.9% during the 2nd quarter. RFG Advisory LLC now owns 537 shares of the specialty retailer’s stock worth $207,000 after purchasing an additional 142 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other 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.