Ulta Beauty (NASDAQ:ULTA) Price Target Cut to $520.00

Ulta Beauty (NASDAQ:ULTA – Get Rating) had its price objective reduced by investment analysts at Morgan Stanley from $535.00 to $520.00 in a note issued to investors on Friday, The Fly reports. Morgan Stanley’s price target indicates a potential upside of 7.19% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Argus lifted their target price on shares of Ulta Beauty from $530.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, March 31st. Bank of America dropped their target price on shares of Ulta Beauty from $540.00 to $490.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Ulta Beauty from $607.00 to $600.00 in a research report on Wednesday, March 8th. Credit Suisse Group lifted their target price on shares of Ulta Beauty from $535.00 to $580.00 and gave the company an “outperform” rating in a research report on Friday, March 10th. Finally, StockNews.com raised shares of Ulta Beauty from a “hold” rating to a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $545.76.

Ulta Beauty Stock Up 0.8 %

NASDAQ ULTA opened at $485.12 on Friday. The company has a market cap of $24.30 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.55 and a beta of 1.31. Ulta Beauty has a 52 week low of $360.58 and a 52 week high of $556.60. The firm’s 50-day simple moving average is $522.33 and its two-hundred day simple moving average is $498.37.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last released its quarterly earnings data on Thursday, May 25th. The specialty retailer reported $6.88 EPS for the quarter, beating the consensus estimate of $6.82 by $0.06. Ulta Beauty had a net margin of 12.17% and a return on equity of 67.19%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the firm earned $6.30 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Ulta Beauty will post 25.27 EPS for the current year.

Insider Buying and Selling at Ulta Beauty

In other Ulta Beauty news, Director Mike C. Smith sold 400 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $521.63, for a total transaction of $208,652.00. Following the transaction, the director now directly owns 1,531 shares of the company’s stock, valued at approximately $798,615.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Anita Jane Ryan sold 1,255 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $544.69, for a total transaction of $683,585.95. Following the sale, the insider now owns 2,491 shares in the company, valued at approximately $1,356,822.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mike C. Smith sold 400 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $521.63, for a total transaction of $208,652.00. Following the sale, the director now owns 1,531 shares in the company, valued at approximately $798,615.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,355 shares of company stock valued at $3,821,507. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ulta Beauty

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Ulta Beauty by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,798,924 shares of the specialty retailer’s stock worth $2,326,471,000 after purchasing an additional 46,100 shares in the last quarter. Utah Retirement Systems boosted its holdings in Ulta Beauty by 0.6% in the third quarter. Utah Retirement Systems now owns 9,211 shares of the specialty retailer’s stock worth $3,696,000 after purchasing an additional 54 shares during the last quarter. RFP Financial Group LLC purchased a new stake in Ulta Beauty in the fourth quarter worth approximately $31,000. Alpha Paradigm Partners LLC boosted its holdings in Ulta Beauty by 64.4% in the third quarter. Alpha Paradigm Partners LLC now owns 906 shares of the specialty retailer’s stock worth $363,000 after purchasing an additional 355 shares during the last quarter. Finally, Perfromance Wealth Partners LLC boosted its holdings in Ulta Beauty by 11.5% in the fourth quarter. Perfromance Wealth Partners LLC now owns 3,373 shares of the specialty retailer’s stock worth $1,582,000 after purchasing an additional 348 shares during the last quarter. Institutional investors own 90.47% of the company’s stock.

About Ulta Beauty

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Ulta Beauty, Inc engages in the retail of beauty products. The company has one reportable segment, which includes retail stores, salon services, and e-commerce. Its products include makeup, skin care, tools and brushes, fragrance, and bath and body. Ulta was founded on January 9, 1990, and is headquartered in Bolingbrook, IL.