Ulta Beauty (NASDAQ:ULTA) Given New $360.00 Price Target at Piper Sandler

Ulta Beauty (NASDAQ:ULTA) had its price target upped by Piper Sandler from $357.00 to $360.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the specialty retailer’s stock.

ULTA has been the subject of a number of other research reports. Evercore ISI cut their target price on shares of Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, August 26th. Raymond James cut their price objective on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. William Blair cut Ulta Beauty from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus increased their price objective on shares of Ulta Beauty from $385.00 to $395.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $421.71.

Ulta Beauty Price Performance

Shares of ULTA stock opened at $392.87 on Tuesday. The stock’s fifty day simple moving average is $373.67 and its 200 day simple moving average is $376.39. Ulta Beauty has a one year low of $318.17 and a one year high of $574.76. The firm has a market cap of $18.51 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 2.27 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, beating the consensus estimate of $4.45 by $0.69. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.50 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.07 EPS. On average, research analysts anticipate that Ulta Beauty will post 23.07 earnings per share for the current year.

Hedge Funds Weigh In On Ulta Beauty

Hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its position in shares of Ulta Beauty by 83.3% during the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock worth $25,000 after buying an additional 30 shares during the period. Innealta Capital LLC acquired a new position in Ulta Beauty during the second quarter valued at approximately $32,000. Paladin Wealth LLC bought a new stake in Ulta Beauty in the third quarter valued at approximately $32,000. Westside Investment Management Inc. raised its holdings in Ulta Beauty by 151.5% in the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 50 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in shares of Ulta Beauty by 118.4% during the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

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.