Ulta Beauty (NASDAQ:ULTA) Receives “Outperform” Rating from Telsey Advisory Group

Ulta Beauty (NASDAQ:ULTA)‘s stock had its “outperform” rating reaffirmed by investment analysts at Telsey Advisory Group in a research note issued to investors on Monday,Benzinga reports. They currently have a $610.00 price objective on the specialty retailer’s stock. Telsey Advisory Group’s target price indicates a potential upside of 12.88% from the company’s previous close.

Several other equities research analysts have also issued reports on ULTA. Weiss Ratings reissued a “hold (c)” rating on shares of Ulta Beauty in a research report on Wednesday, October 8th. Oppenheimer boosted their price target on Ulta Beauty from $510.00 to $600.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Robert W. Baird lifted their price objective on shares of Ulta Beauty from $575.00 to $600.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Morgan Stanley increased their target price on shares of Ulta Beauty from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, August 29th. Finally, Cowen reissued a “hold” rating on shares of Ulta Beauty in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $549.58.

Ulta Beauty Trading Up 1.0%

Shares of Ulta Beauty stock opened at $540.38 on Monday. The company has a 50-day moving average of $530.33 and a two-hundred day moving average of $502.24. Ulta Beauty has a 12-month low of $309.01 and a 12-month high of $572.23. The stock has a market cap of $24.23 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 3.57 and a beta of 0.87.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the business posted $5.30 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts forecast that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the sale, the director owned 2,263 shares of the company’s stock, valued at $1,195,837.09. The trade was a 18.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by corporate insiders.

Institutional Trading of Ulta Beauty

Institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers boosted its stake in Ulta Beauty by 3.0% in the 1st quarter. Cetera Investment Advisers now owns 11,772 shares of the specialty retailer’s stock valued at $4,315,000 after buying an additional 338 shares in the last quarter. Natixis Advisors LLC raised its holdings in Ulta Beauty by 13.8% in the first quarter. Natixis Advisors LLC now owns 27,119 shares of the specialty retailer’s stock worth $9,940,000 after purchasing an additional 3,297 shares during the period. Costello Asset Management INC acquired a new position in shares of Ulta Beauty in the 1st quarter valued at $37,000. Nicholas Hoffman & Company LLC. increased its position in shares of Ulta Beauty by 33.2% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 2,005 shares of the specialty retailer’s stock valued at $735,000 after buying an additional 500 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in Ulta Beauty by 5.0% during the 1st quarter. Citizens Financial Group Inc. RI now owns 2,219 shares of the specialty retailer’s stock worth $813,000 after buying an additional 105 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.