Canaccord Genuity Group Issues Positive Forecast for Ulta Beauty (NASDAQ:ULTA) Stock Price

Ulta Beauty (NASDAQ:ULTA) had its price target boosted by Canaccord Genuity Group from $500.00 to $538.00 in a research note released on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the specialty retailer’s stock.

ULTA has been the subject of several other reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $500.00 price target on shares of Ulta Beauty in a report on Tuesday. Raymond James dropped their target price on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Barclays increased their target price on Ulta Beauty from $335.00 to $410.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. DA Davidson lifted their price target on Ulta Beauty from $435.00 to $510.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Piper Sandler increased their price objective on shares of Ulta Beauty from $390.00 to $394.00 and gave the stock a “neutral” rating in a report on Monday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Ulta Beauty has a consensus rating of “Hold” and a consensus price target of $454.43.

Ulta Beauty Stock Down 0.7 %

Shares of NASDAQ:ULTA opened at $428.27 on Tuesday. The company has a market capitalization of $19.86 billion, a P/E ratio of 17.14, a P/E/G ratio of 2.38 and a beta of 1.28. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76. The stock’s fifty day simple moving average is $399.50 and its 200-day simple moving average is $383.42.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.45 by $0.69. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $5.07 EPS. On average, sell-side analysts anticipate that Ulta Beauty will post 23.57 earnings per share for the current year.

Institutional Investors Weigh In On Ulta Beauty

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Ulta Beauty by 180,713.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock valued at $481,952,000 after buying an additional 1,237,884 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ulta Beauty by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,188,730 shares of the specialty retailer’s stock worth $461,059,000 after acquiring an additional 10,153 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of Ulta Beauty in the third quarter worth about $359,480,000. Champlain Investment Partners LLC boosted its holdings in Ulta Beauty by 5.4% in the third quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock valued at $237,519,000 after purchasing an additional 31,540 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt grew its stake in Ulta Beauty by 14.4% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 516,405 shares of the specialty retailer’s stock valued at $200,944,000 after purchasing an additional 65,000 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

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.