Canaccord Genuity Group Issues Positive Forecast for Ulta Beauty (NASDAQ:ULTA) Stock Price

Ulta Beauty (NASDAQ:ULTA) had its price target upped by investment analysts at Canaccord Genuity Group from $500.00 to $538.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 24.48% from the stock’s current price.

ULTA has been the topic of a number of other reports. Loop Capital lifted their price target on Ulta Beauty from $450.00 to $480.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft cut their target price 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. DA Davidson upped their price target 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. B. Riley upgraded shares of Ulta Beauty from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $330.00 to $430.00 in a report on Tuesday. Finally, Barclays boosted their price objective on shares of Ulta Beauty from $335.00 to $410.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $454.43.

Ulta Beauty Stock Performance

Shares of ULTA traded up $0.89 during mid-day trading on Tuesday, reaching $432.19. The company had a trading volume of 1,424,741 shares, compared to its average volume of 825,157. The company’s 50 day simple moving average is $398.53 and its 200 day simple moving average is $383.10. The company has a market capitalization of $20.04 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 2.38 and a beta of 1.28. Ulta Beauty has a 1-year low of $318.17 and a 1-year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last posted 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 net margin of 10.58% and a return on equity of 51.95%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm posted $5.07 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts forecast that Ulta Beauty will post 23.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

Hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI increased its position in shares of Ulta Beauty by 16.6% during the second quarter. National Bank of Canada FI now owns 18,392 shares of the specialty retailer’s stock worth $7,065,000 after acquiring an additional 2,619 shares in the last quarter. Private Advisor Group LLC increased its holdings in Ulta Beauty by 65.9% during the 2nd quarter. Private Advisor Group LLC now owns 10,022 shares of the specialty retailer’s stock worth $3,867,000 after purchasing an additional 3,982 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Ulta Beauty in the second quarter worth approximately $525,000. Caprock Group LLC raised its stake in shares of Ulta Beauty by 1.7% in the second quarter. Caprock Group LLC now owns 4,328 shares of the specialty retailer’s stock worth $1,670,000 after purchasing an additional 72 shares during the last quarter. Finally, First Foundation Advisors lifted its holdings in shares of Ulta Beauty by 45.9% in the second quarter. First Foundation Advisors now owns 162 shares of the specialty retailer’s stock valued at $63,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds 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.