Ulta Beauty (NASDAQ:ULTA) Given New $357.00 Price Target at Piper Sandler

Ulta Beauty (NASDAQ:ULTA) had its price objective hoisted by Piper Sandler from $356.00 to $357.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Several other brokerages also recently commented on ULTA. Bank of America lowered their price objective on Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating on the stock in a research report on Friday, August 30th. Stifel Nicolaus lowered their price objective on Ulta Beauty from $475.00 to $385.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Robert W. Baird decreased their target price on Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating on the stock in a research report on Friday, August 23rd. Wells Fargo & Company decreased their target price on Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, August 30th. Finally, DA Davidson decreased their target price on Ulta Beauty from $507.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $423.71.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $371.72 on Thursday. The stock has a 50-day simple moving average of $372.98 and a two-hundred day simple moving average of $388.43. Ulta Beauty has a 52-week low of $318.17 and a 52-week high of $574.76. The firm has a market capitalization of $17.52 billion, a PE ratio of 14.92, a P/E/G ratio of 2.12 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.17). Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the firm posted $6.02 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts forecast that Ulta Beauty will post 23.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Richard W. Paul & Associates LLC grew its stake in shares of Ulta Beauty by 32.3% during the third quarter. Richard W. Paul & Associates LLC now owns 2,774 shares of the specialty retailer’s stock valued at $1,079,000 after buying an additional 678 shares during the last quarter. Aaron Wealth Advisors LLC bought a new position in shares of Ulta Beauty during the third quarter valued at approximately $215,000. V Square Quantitative Management LLC grew its stake in shares of Ulta Beauty by 19.7% during the third quarter. V Square Quantitative Management LLC now owns 1,563 shares of the specialty retailer’s stock valued at $608,000 after buying an additional 257 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Ulta Beauty by 0.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,817 shares of the specialty retailer’s stock valued at $1,874,000 after buying an additional 43 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its stake in shares of Ulta Beauty by 24.5% during the third quarter. AlphaMark Advisors LLC now owns 1,596 shares of the specialty retailer’s stock valued at $621,000 after buying an additional 314 shares during the last quarter. Institutional investors 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.