Ulta Beauty (NASDAQ:ULTA) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Ulta Beauty (NASDAQ:ULTA) had its price target increased by Wells Fargo & Company from $300.00 to $350.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s price target points to a potential downside of 18.26% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. BMO Capital Markets set a $385.00 target price on shares of Ulta Beauty in a research note on Thursday, October 17th. DA Davidson dropped their price objective on shares of Ulta Beauty from $507.00 to $435.00 and set a “buy” rating for the company in a report on Friday, August 30th. B. Riley initiated coverage on Ulta Beauty in a research note on Tuesday, September 10th. They issued a “sell” rating and a $300.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $435.00 price target on shares of Ulta Beauty in a research note on Wednesday, October 16th. Finally, William Blair lowered Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $438.00.

Ulta Beauty Price Performance

ULTA opened at $428.17 on Friday. The firm has a market capitalization of $20.18 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 2.30 and a beta of 1.32. Ulta Beauty has a one year low of $318.17 and a one year high of $574.76. The company has a fifty day moving average price of $374.15 and a 200-day moving average price of $376.64.

Ulta Beauty (NASDAQ:ULTA) last posted its 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. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $5.07 earnings per share. On average, analysts expect that Ulta Beauty will post 23.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Synovus Financial Corp grew its position in shares of Ulta Beauty by 5.2% in the 3rd quarter. Synovus Financial Corp now owns 2,556 shares of the specialty retailer’s stock worth $995,000 after buying an additional 126 shares during the last quarter. World Investment Advisors LLC purchased a new stake in Ulta Beauty in the third quarter worth $212,000. Pine Valley Investments Ltd Liability Co boosted its holdings in Ulta Beauty by 12.4% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,589 shares of the specialty retailer’s stock valued at $3,731,000 after acquiring an additional 1,057 shares in the last quarter. Rule One Partners LLC purchased a new position in Ulta Beauty during the 3rd quarter valued at $2,179,000. Finally, Diamant Asset Management Inc. raised its holdings in Ulta Beauty by 2.1% in the 3rd quarter. Diamant Asset Management Inc. now owns 2,920 shares of the specialty retailer’s stock worth $1,136,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other 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.