Ulta Beauty (ULTA) PT Raised to $340.00

Ulta Beauty (NASDAQ:ULTA) had its price objective raised by equities researchers at Loop Capital to $340.00 in a report issued on Monday, The Fly reports. The brokerage presently has a “hold” rating on the specialty retailer’s stock. Loop Capital’s price objective points to a potential upside of 1.66% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also recently commented on the company. BidaskClub cut Ulta Beauty from a “buy” rating to a “hold” rating in a report on Saturday, December 8th. Wells Fargo & Co decreased their price target on Ulta Beauty from $328.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, January 2nd. Nomura set a $305.00 price target on Ulta Beauty and gave the company a “buy” rating in a report on Monday, November 26th. Morgan Stanley set a $330.00 price target on Ulta Beauty and gave the company a “buy” rating in a report on Sunday, December 9th. Finally, OTR Global raised Ulta Beauty to a “positive” rating in a report on Thursday, November 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $317.05.

NASDAQ:ULTA opened at $334.45 on Monday. The stock has a market cap of $20.30 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.01. Ulta Beauty has a 52 week low of $199.15 and a 52 week high of $345.24.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $3.61 EPS for the quarter, beating the Zacks’ consensus estimate of $3.56 by $0.05. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Ulta Beauty had a return on equity of 36.09% and a net margin of 9.80%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $2.75 earnings per share. On average, equities research analysts predict that Ulta Beauty will post 12.75 EPS for the current year.

Several institutional investors have recently modified their holdings of ULTA. FMR LLC grew its position in shares of Ulta Beauty by 52.6% during the fourth quarter. FMR LLC now owns 1,961,393 shares of the specialty retailer’s stock valued at $480,228,000 after purchasing an additional 675,832 shares in the last quarter. Two Sigma Advisers LP grew its position in Ulta Beauty by 189.8% in the fourth quarter. Two Sigma Advisers LP now owns 784,145 shares of the specialty retailer’s stock worth $191,990,000 after acquiring an additional 513,582 shares in the last quarter. Norges Bank purchased a new position in Ulta Beauty in the fourth quarter worth about $125,214,000. American Century Companies Inc. purchased a new position in Ulta Beauty in the fourth quarter worth about $46,445,000. Finally, Marshall Wace LLP purchased a new position in Ulta Beauty in the third quarter worth about $44,356,000. Hedge funds and other institutional investors own 89.34% of the company’s stock.

About Ulta Beauty

Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, haircare and skincare products, bath and body products, and salon styling tools; salon services, including hair, skin, and brow services; and others, including nail products and accessories.

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Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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