Oppenheimer Trims Ulta Beauty (NASDAQ:ULTA) Target Price to $475.00

Ulta Beauty (NASDAQ:ULTA) had its target price lowered by Oppenheimer from $500.00 to $475.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the specialty retailer’s stock.

Several other analysts have also recently weighed in on ULTA. Wells Fargo & Company decreased their price objective on shares of Ulta Beauty from $450.00 to $350.00 and set an underweight rating on the stock in a research note on Wednesday, April 24th. DA Davidson reiterated a buy rating and set a $595.00 target price on shares of Ulta Beauty in a research report on Friday, March 15th. Piper Sandler decreased their price objective on Ulta Beauty from $665.00 to $595.00 and set an overweight rating on the stock in a research report on Tuesday, April 9th. Robert W. Baird boosted their target price on Ulta Beauty from $575.00 to $625.00 and gave the stock an outperform rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Ulta Beauty from $535.00 to $600.00 and gave the company an overweight rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $546.86.

Ulta Beauty Trading Up 0.6 %

NASDAQ ULTA opened at $399.15 on Tuesday. Ulta Beauty has a 1-year low of $368.02 and a 1-year high of $574.76. The stock’s 50 day moving average is $476.30 and its two-hundred day moving average is $469.91. The company has a market capitalization of $19.13 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.63 and a beta of 1.36.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share for the quarter, beating analysts’ consensus estimates of $7.49 by $0.59. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $6.68 earnings per share. On average, analysts predict that Ulta Beauty will post 26.55 earnings per share for the current year.

Ulta Beauty announced that its board has initiated a share buyback plan on Thursday, March 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Ulta Beauty

In other Ulta Beauty news, Director Catherine Ann Halligan sold 500 shares of Ulta Beauty stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total value of $263,130.00. Following the sale, the director now directly owns 1,665 shares in the company, valued at approximately $876,222.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the sale, the insider now directly owns 2,705 shares of the company’s stock, valued at $1,420,801.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Catherine Ann Halligan sold 500 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total transaction of $263,130.00. Following the transaction, the director now owns 1,665 shares in the company, valued at $876,222.90. The disclosure for this sale can be found here. Insiders have sold a total of 24,552 shares of company stock valued at $12,920,326 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ulta Beauty

A number of hedge funds and other institutional investors have recently bought and sold shares of ULTA. Nvwm LLC lifted its position in shares of Ulta Beauty by 2.1% in the fourth quarter. Nvwm LLC now owns 1,043 shares of the specialty retailer’s stock valued at $511,000 after buying an additional 21 shares during the last quarter. Manchester Capital Management LLC raised its stake in Ulta Beauty by 41.2% in the 4th quarter. Manchester Capital Management LLC now owns 72 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 21 shares during the period. Raleigh Capital Management Inc. lifted its holdings in Ulta Beauty by 4.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 535 shares of the specialty retailer’s stock valued at $214,000 after purchasing an additional 22 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Ulta Beauty by 0.8% during the fourth quarter. Pinnacle Associates Ltd. now owns 2,828 shares of the specialty retailer’s stock worth $1,386,000 after purchasing an additional 23 shares during the period. Finally, Nkcfo LLC increased its holdings in shares of Ulta Beauty by 14.4% in the fourth quarter. Nkcfo LLC now owns 183 shares of the specialty retailer’s stock valued at $90,000 after purchasing an additional 23 shares during the last quarter. 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.