Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $394.00 at Piper Sandler

Ulta Beauty (NASDAQ:ULTA) had its price objective lifted by Piper Sandler from $390.00 to $394.00 in a report published on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the specialty retailer’s stock.

A number of other equities analysts have also recently commented on ULTA. Raymond James decreased their price target on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Barclays lifted their target price on shares of Ulta Beauty from $335.00 to $410.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. StockNews.com cut shares of Ulta Beauty from a “hold” rating to a “sell” rating in a research report on Friday, December 20th. Wells Fargo & Company boosted their price objective on shares of Ulta Beauty from $300.00 to $350.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Ulta Beauty from $426.00 to $424.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $458.78.

Ulta Beauty Stock Performance

Shares of Ulta Beauty stock opened at $415.14 on Monday. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76. The company has a fifty day moving average of $400.28 and a 200-day moving average of $383.64. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 2.38 and a beta of 1.28.

Ulta Beauty (NASDAQ:ULTA) 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 net margin of 10.58% and a return on equity of 51.95%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business posted $5.07 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts forecast that Ulta Beauty will post 23.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Choreo LLC increased its stake in shares of Ulta Beauty by 71.7% in the second quarter. Choreo LLC now owns 2,868 shares of the specialty retailer’s stock worth $1,103,000 after purchasing an additional 1,198 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Ulta Beauty in the 2nd quarter worth $19,136,000. Jensen Investment Management Inc. raised its holdings in Ulta Beauty by 17.9% during the third quarter. Jensen Investment Management Inc. now owns 11,330 shares of the specialty retailer’s stock valued at $4,409,000 after acquiring an additional 1,720 shares during the period. Distillate Capital Partners LLC bought a new stake in Ulta Beauty during the second quarter valued at about $14,665,000. Finally, Versor Investments LP purchased a new position in shares of Ulta Beauty in the third quarter valued at about $793,000. 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.