Ulta Beauty (NASDAQ:ULTA) Price Target Cut to $365.00 by Analysts at Citigroup

Ulta Beauty (NASDAQ:ULTA) had its target price dropped by Citigroup from $405.00 to $365.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. Citigroup’s price objective suggests a potential upside of 2.71% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Loop Capital raised their target price on shares of Ulta Beauty from $450.00 to $480.00 and gave the company a “buy” rating in a research note on Monday, December 9th. StockNews.com upgraded shares of Ulta Beauty from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. Bank of America lowered their target price on shares of Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating for the company in a report on Friday. Stifel Nicolaus lowered their target price on shares of Ulta Beauty from $475.00 to $400.00 and set a “hold” rating for the company in a report on Friday. Finally, Barclays cut their target price on shares of Ulta Beauty from $445.00 to $327.00 and set an “equal weight” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $427.13.

Ulta Beauty Price Performance

Ulta Beauty stock traded down $2.12 during midday trading on Monday, reaching $355.37. 898,442 shares of the company traded hands, compared to its average volume of 1,037,102. Ulta Beauty has a 12 month low of $309.01 and a 12 month high of $544.36. The firm has a market capitalization of $16.48 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The business has a 50 day moving average of $385.01 and a two-hundred day moving average of $386.94.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, beating analysts’ consensus estimates of $7.13 by $1.33. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $8.08 earnings per share. As a group, equities analysts forecast that Ulta Beauty will post 23.96 EPS for the current year.

Hedge Funds Weigh In On Ulta Beauty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Prestige Wealth Management Group LLC boosted its stake in shares of Ulta Beauty by 121.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 34 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Ulta Beauty by 118.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 45 shares during the last quarter. Westside Investment Management Inc. boosted its stake in shares of Ulta Beauty by 151.5% during the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 50 shares during the last quarter. Edge Capital Group LLC purchased a new position in shares of Ulta Beauty during the 4th quarter valued at approximately $33,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Ulta Beauty during the 3rd quarter valued at approximately $41,000. Hedge funds and other 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.