Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $386.00 at Truist Financial

Ulta Beauty (NASDAQ:ULTA) had its price target hoisted by Truist Financial from $364.00 to $386.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

ULTA has been the subject of a number of other research reports. The Goldman Sachs Group raised shares of Ulta Beauty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $384.00 to $423.00 in a research note on Tuesday, April 1st. BMO Capital Markets reduced their price objective on shares of Ulta Beauty from $467.00 to $404.00 and set a “market perform” rating on the stock in a report on Friday, March 14th. Piper Sandler reduced their price target on shares of Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Stifel Nicolaus decreased their price target on shares of Ulta Beauty from $475.00 to $400.00 and set a “hold” rating for the company in a research note on Friday, March 14th. Finally, Wells Fargo & Company increased their price objective on Ulta Beauty from $300.00 to $315.00 and gave the company an “underweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $426.08.

Ulta Beauty Price Performance

ULTA stock opened at $411.74 on Thursday. Ulta Beauty has a 1-year low of $309.01 and a 1-year high of $460.00. The company has a market capitalization of $18.59 billion, a P/E ratio of 16.48, a PEG ratio of 0.89 and a beta of 1.06. The business has a 50-day moving average price of $369.11 and a 200 day moving average price of $385.22.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, beating analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the business posted $8.08 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. On average, analysts anticipate that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Ulta Beauty

In related news, insider Jodi J. Caro sold 902 shares of Ulta Beauty stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total transaction of $332,982.32. Following the completion of the sale, the insider now owns 7,632 shares of the company’s stock, valued at approximately $2,817,429.12. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Ulta Beauty

Several institutional investors have recently made changes to their positions in the company. Cornerstone Investment Partners LLC raised its holdings in shares of Ulta Beauty by 3.9% during the 4th quarter. Cornerstone Investment Partners LLC now owns 665 shares of the specialty retailer’s stock valued at $289,000 after purchasing an additional 25 shares in the last quarter. Wambolt & Associates LLC raised its holdings in Ulta Beauty by 1.6% during the first quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer’s stock valued at $626,000 after buying an additional 26 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Ulta Beauty by 32.5% in the first quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer’s stock worth $40,000 after buying an additional 27 shares during the last quarter. RWA Wealth Partners LLC boosted its stake in shares of Ulta Beauty by 1.5% during the 4th quarter. RWA Wealth Partners LLC now owns 1,867 shares of the specialty retailer’s stock worth $812,000 after acquiring an additional 28 shares in the last quarter. Finally, Procyon Advisors LLC increased its holdings in shares of Ulta Beauty by 4.3% during the 1st quarter. Procyon Advisors LLC now owns 707 shares of the specialty retailer’s stock valued at $259,000 after acquiring an additional 29 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.