Ulta Beauty (NASDAQ:ULTA) Given New $475.00 Price Target at JPMorgan Chase & Co.

Ulta Beauty (NASDAQ:ULTA) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $480.00 to $475.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 35.69% from the company’s current price.

Several other research firms have also recently issued reports on ULTA. Morgan Stanley decreased their price objective on shares of Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating for the company in a research report on Friday. Oppenheimer upped their price objective on Ulta Beauty from $505.00 to $515.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. BMO Capital Markets raised their target price on Ulta Beauty from $385.00 to $420.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. TD Cowen upped their price target on Ulta Beauty from $450.00 to $480.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Finally, William Blair cut shares of Ulta Beauty from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Ulta Beauty currently has a consensus rating of “Hold” and a consensus target price of $441.61.

Ulta Beauty Stock Up 11.3 %

Ulta Beauty stock traded up $35.58 during mid-day trading on Friday, reaching $350.05. 1,098,461 shares of the company’s stock were exchanged, compared to its average volume of 1,037,909. The company has a fifty day moving average of $386.49 and a 200-day moving average of $386.82. The company has a market cap of $16.23 billion, a P/E ratio of 13.91, a P/E/G ratio of 0.89 and a beta of 1.34. Ulta Beauty has a twelve month low of $309.01 and a twelve month high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share for the quarter, topping the consensus estimate of $7.13 by $1.33. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.47 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. Ulta Beauty’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.08 EPS. Equities research analysts expect that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ulta Beauty

A number of hedge funds have recently added to or reduced their stakes in ULTA. Prestige Wealth Management Group LLC raised its position in Ulta Beauty by 121.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 34 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Ulta Beauty by 118.4% in the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 45 shares in the last quarter. Westside Investment Management Inc. raised 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 worth $32,000 after buying an additional 50 shares during the last quarter. Edge Capital Group LLC acquired a new position in Ulta Beauty during the fourth quarter worth about $33,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Ulta Beauty during the 3rd quarter worth approximately $41,000. 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.