The Goldman Sachs Group Trims Ulta Beauty (NASDAQ:ULTA) Target Price to $412.00

Ulta Beauty (NASDAQ:ULTA) had its price objective cut by equities research analysts at The Goldman Sachs Group from $475.00 to $412.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 28.28% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Piper Sandler cut shares of Ulta Beauty from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $494.00 to $404.00 in a research report on Wednesday, July 24th. Robert W. Baird decreased their target price on Ulta Beauty from $625.00 to $525.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Stifel Nicolaus cut their price target on Ulta Beauty from $565.00 to $475.00 and set a “hold” rating on the stock in a report on Tuesday, May 14th. Canaccord Genuity Group decreased their price objective on Ulta Beauty from $575.00 to $522.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Finally, BMO Capital Markets lowered their price objective on Ulta Beauty from $540.00 to $500.00 and set a “market perform” rating for the company in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $494.83.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA traded down $1.01 during trading on Monday, reaching $321.16. The stock had a trading volume of 274,972 shares, compared to its average volume of 817,721. The company has a market cap of $15.32 billion, a P/E ratio of 12.53, a PEG ratio of 1.51 and a beta of 1.37. Ulta Beauty has a fifty-two week low of $318.78 and a fifty-two week high of $574.76. The business’s 50-day moving average price is $379.42 and its 200-day moving average price is $440.30.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.19 by $0.28. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.72 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. Ulta Beauty’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $6.88 EPS. Analysts forecast that Ulta Beauty will post 25.65 EPS for the current fiscal year.

Insider Buying and Selling at Ulta Beauty

In other news, Director Catherine Ann Halligan sold 100 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the completion of the sale, the director now owns 2,017 shares in the company, valued at approximately $786,791.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ulta Beauty news, Director Catherine Ann Halligan sold 100 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total transaction of $39,008.00. Following the transaction, the director now owns 2,017 shares in the company, valued at approximately $786,791.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jodi J. Caro sold 650 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the completion of the sale, the insider now directly owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ulta Beauty

Several institutional investors have recently made changes to their positions in ULTA. Norges Bank purchased a new stake in Ulta Beauty during the fourth quarter worth about $263,192,000. Global Assets Advisory LLC purchased a new stake in shares of Ulta Beauty during the 1st quarter worth approximately $176,753,000. TD Asset Management Inc grew its holdings in shares of Ulta Beauty by 177.8% in the 4th quarter. TD Asset Management Inc now owns 407,347 shares of the specialty retailer’s stock worth $199,596,000 after acquiring an additional 260,740 shares during the period. Los Angeles Capital Management LLC increased its stake in Ulta Beauty by 210.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 271,550 shares of the specialty retailer’s stock valued at $141,988,000 after purchasing an additional 184,060 shares in the last quarter. Finally, Boston Partners raised its holdings in Ulta Beauty by 47.7% during the first quarter. Boston Partners now owns 476,027 shares of the specialty retailer’s stock worth $246,862,000 after purchasing an additional 153,727 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

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.