Telsey Advisory Group Forecasts Strong Price Appreciation for Ulta Beauty (NASDAQ:ULTA) Stock

Ulta Beauty (NASDAQ:ULTA) had its price target hoisted by analysts at Telsey Advisory Group from $460.00 to $520.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the specialty retailer’s stock. Telsey Advisory Group’s price objective would indicate a potential upside of 23.28% from the company’s current price.

Several other equities analysts have also commented on ULTA. Truist Financial raised their target price on shares of Ulta Beauty from $364.00 to $386.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. BMO Capital Markets lowered their price objective on shares of Ulta Beauty from $467.00 to $404.00 and set a “market perform” rating for the company in a research report on Friday, March 14th. Barclays reduced their target price on Ulta Beauty from $445.00 to $327.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Citigroup reiterated a “neutral” rating and issued a $425.00 price target (up previously from $365.00) on shares of Ulta Beauty in a research note on Friday, May 23rd. Finally, Canaccord Genuity Group dropped their price objective on Ulta Beauty from $526.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Ulta Beauty presently has an average rating of “Hold” and a consensus price target of $427.39.

Ulta Beauty Stock Performance

Shares of Ulta Beauty stock opened at $421.79 on Friday. Ulta Beauty has a 52-week low of $309.01 and a 52-week high of $461.00. The stock has a market cap of $19.04 billion, a PE ratio of 16.88, a PEG ratio of 0.89 and a beta of 1.06. The firm has a 50-day moving average of $382.73 and a 200-day moving average of $387.37.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, beating analysts’ consensus estimates of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $6.47 earnings per share. Equities research analysts predict that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jodi J. Caro sold 902 shares of the firm’s 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 transaction, the insider now directly owns 7,632 shares of the company’s stock, valued at $2,817,429.12. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ulta Beauty

A number of institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in shares of Ulta Beauty by 28.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 166 shares of the specialty retailer’s stock worth $72,000 after acquiring an additional 37 shares during the last quarter. Savant Capital LLC increased its position in Ulta Beauty by 199.5% during the 4th quarter. Savant Capital LLC now owns 4,646 shares of the specialty retailer’s stock valued at $2,021,000 after purchasing an additional 3,095 shares during the period. Sanctuary Advisors LLC raised its holdings in Ulta Beauty by 7.8% during the 4th quarter. Sanctuary Advisors LLC now owns 3,973 shares of the specialty retailer’s stock worth $1,663,000 after purchasing an additional 288 shares during the last quarter. Buckhead Capital Management LLC lifted its position in shares of Ulta Beauty by 15.6% in the 4th quarter. Buckhead Capital Management LLC now owns 12,088 shares of the specialty retailer’s stock worth $5,257,000 after purchasing an additional 1,633 shares during the period. Finally, Coerente Capital Management lifted its position in shares of Ulta Beauty by 18.8% in the 4th quarter. Coerente Capital Management now owns 36,864 shares of the specialty retailer’s stock worth $16,033,000 after purchasing an additional 5,830 shares during the period. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Company Profile

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.