Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $475.00 at Bank of America

Ulta Beauty (NASDAQ:ULTAGet Free Report) had its price target increased by research analysts at Bank of America from $460.00 to $475.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Bank of America‘s price target would indicate a potential upside of 14.42% from the stock’s current price.

A number of other research analysts also recently commented on the company. Oppenheimer boosted their target price on Ulta Beauty from $505.00 to $515.00 and gave the company an “outperform” rating in a research note on Tuesday. B. Riley upgraded Ulta Beauty from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $330.00 to $430.00 in a research note on Tuesday. Raymond James dropped their price objective on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. BMO Capital Markets boosted their price target on shares of Ulta Beauty from $385.00 to $420.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Finally, William Blair cut Ulta Beauty from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $458.78.

View Our Latest Research Report on Ulta Beauty

Ulta Beauty Stock Performance

Shares of ULTA stock opened at $415.14 on Tuesday. Ulta Beauty has a 1 year low of $318.17 and a 1 year high of $574.76. The firm has a market capitalization of $19.25 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 2.38 and a beta of 1.28. The stock has a fifty day moving average of $400.28 and a two-hundred day moving average of $383.64.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last posted its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.45 by $0.69. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the company earned $5.07 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. Equities research analysts predict that Ulta Beauty will post 23.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ulta Beauty

A number of large investors have recently bought and sold shares of ULTA. International Assets Investment Management LLC raised its holdings in Ulta Beauty by 180,713.0% during the third quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock worth $481,952,000 after acquiring an additional 1,237,884 shares in the last quarter. Geode Capital Management LLC grew its stake in Ulta Beauty by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,188,730 shares of the specialty retailer’s stock valued at $461,059,000 after buying an additional 10,153 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Ulta Beauty during the third quarter worth approximately $359,480,000. Champlain Investment Partners LLC grew its position in shares of 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 boosted its stake in Ulta Beauty by 14.4% in 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 during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

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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Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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