BidaskClub Upgrades Ulta Beauty (ULTA) to “Buy”
Ulta Beauty (NASDAQ:ULTA) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday.
ULTA has been the topic of several other research reports. Jefferies Financial Group set a $335.00 target price on shares of Ulta Beauty and gave the company a “buy” rating in a research note on Friday, November 9th. Wells Fargo & Co reduced their price target on shares of Ulta Beauty from $336.00 to $328.00 and set an “outperform” rating on the stock in a research report on Friday, December 7th. Morgan Stanley set a $330.00 price target on shares of Ulta Beauty and gave the stock a “buy” rating in a research report on Sunday, December 9th. Loop Capital upped their price target on shares of Ulta Beauty to $300.00 and gave the stock a “hold” rating in a research report on Friday, November 9th. Finally, ValuEngine downgraded shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Friday, December 7th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Ulta Beauty currently has a consensus rating of “Buy” and a consensus target price of $288.84.
NASDAQ ULTA traded up $0.72 during trading on Wednesday, reaching $277.75. The company’s stock had a trading volume of 7,640 shares, compared to its average volume of 853,457. The stock has a market capitalization of $16.68 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. Ulta Beauty has a 1-year low of $191.70 and a 1-year high of $322.49.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ULTA. Waddell & Reed Financial Inc. acquired a new stake in Ulta Beauty during the 2nd quarter worth about $125,933,000. FMR LLC lifted its stake in Ulta Beauty by 35.5% in the 3rd quarter. FMR LLC now owns 1,285,561 shares of the specialty retailer’s stock worth $362,682,000 after purchasing an additional 336,985 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in Ulta Beauty in the 3rd quarter worth approximately $79,932,000. Davidson Kempner Capital Management LP purchased a new position in Ulta Beauty in the 2nd quarter worth approximately $40,856,000. Finally, Marshall Wace LLP purchased a new position in Ulta Beauty in the 3rd quarter worth approximately $44,356,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.
Ulta Beauty Company Profile
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, haircare and skincare products, bath and body products, and salon styling tools; salon services, including hair, skin, and brow services; and others, including nail products and accessories.
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