Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $475.00 at Bank of America

Ulta Beauty (NASDAQ:ULTA) had its price objective lifted by Bank of America from $460.00 to $475.00 in a research report report published on Tuesday,Benzinga reports. Bank of America currently has a neutral rating on the specialty retailer’s stock.

A number of other analysts have also commented on the company. Piper Sandler boosted their price objective on Ulta Beauty from $390.00 to $394.00 and gave the stock a “neutral” rating in a report on Monday. B. Riley upgraded shares of Ulta Beauty from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $330.00 to $430.00 in a report on Tuesday. Loop Capital lifted their price target on Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup increased their price target on shares of Ulta Beauty from $390.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, DA Davidson increased their target price on shares of Ulta Beauty from $435.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $454.43.

Ulta Beauty Price Performance

Shares of ULTA stock opened at $428.27 on Tuesday. The stock has a market capitalization of $19.86 billion, a PE ratio of 17.14, a PEG ratio of 2.38 and a beta of 1.28. The business’s 50 day simple moving average is $399.50 and its 200 day simple moving average is $383.42. Ulta Beauty has a one year low of $318.17 and a one year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the company posted $5.07 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, research analysts expect that Ulta Beauty will post 23.57 earnings per share for the current year.

Hedge Funds Weigh In On Ulta Beauty

A number of large investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in shares of Ulta Beauty by 4.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 627 shares of the specialty retailer’s stock worth $244,000 after acquiring an additional 28 shares during the last quarter. Brighton Jones LLC boosted its position in Ulta Beauty by 1.8% during the second quarter. Brighton Jones LLC now owns 1,826 shares of the specialty retailer’s stock valued at $705,000 after buying an additional 33 shares during the period. Daymark Wealth Partners LLC grew its stake in shares of Ulta Beauty by 3.0% during the second quarter. Daymark Wealth Partners LLC now owns 1,221 shares of the specialty retailer’s stock valued at $471,000 after buying an additional 36 shares during the last quarter. Trust Investment Advisors increased its holdings in shares of Ulta Beauty by 2.5% in the second quarter. Trust Investment Advisors now owns 1,491 shares of the specialty retailer’s stock worth $575,000 after buying an additional 37 shares during the period. Finally, Global Trust Asset Management LLC increased its holdings in shares of Ulta Beauty by 39.6% in the third quarter. Global Trust Asset Management LLC now owns 141 shares of the specialty retailer’s stock worth $55,000 after buying an additional 40 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

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.