Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $606.00

Ulta Beauty (NASDAQ:ULTA) had its price target hoisted by JPMorgan Chase & Co. from $600.00 to $606.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the specialty retailer’s stock.

Several other equities analysts also recently issued reports on ULTA. UBS Group boosted their price target on shares of Ulta Beauty from $640.00 to $680.00 and gave the company a “buy” rating in a report on Friday, August 29th. Piper Sandler assumed coverage on shares of Ulta Beauty in a research report on Thursday, September 4th. They issued an “overweight” rating and a $590.00 target price for the company. Cowen restated a “hold” rating on shares of Ulta Beauty in a research note on Friday, August 29th. Citigroup lifted their price target on Ulta Beauty from $450.00 to $550.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Finally, Canaccord Genuity Group increased their price objective on Ulta Beauty from $650.00 to $653.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Fourteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $549.83.

Ulta Beauty Trading Down 0.6%

Shares of NASDAQ ULTA opened at $544.52 on Monday. Ulta Beauty has a 12-month low of $309.01 and a 12-month high of $572.23. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 3.62 and a beta of 0.87. The stock’s 50 day simple moving average is $531.56 and its 200 day simple moving average is $504.43.

Institutional Investors Weigh In On Ulta Beauty

Large investors have recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its stake in Ulta Beauty by 107.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 54 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 28 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Ulta Beauty in the third quarter valued at $25,000. Hemington Wealth Management boosted its position in shares of Ulta Beauty by 142.9% in the second quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock worth $31,000 after buying an additional 40 shares during the period. Grey Fox Wealth Advisors LLC purchased a new position in shares of Ulta Beauty during the third quarter valued at $31,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Ulta Beauty during the third quarter valued at $31,000. 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.