Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $712.00 at Barclays

Ulta Beauty (NASDAQ:ULTA) had its target price lifted by equities researchers at Barclays from $680.00 to $712.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty retailer’s stock. Barclays‘s price objective suggests a potential upside of 14.15% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut Ulta Beauty from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $732.00 price target on Ulta Beauty in a research note on Thursday, January 8th. Piper Sandler reiterated an “overweight” rating and set a $775.00 price objective on shares of Ulta Beauty in a research report on Tuesday, January 27th. UBS Group raised their target price on Ulta Beauty from $690.00 to $780.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Finally, Guggenheim reiterated a “neutral” rating on shares of Ulta Beauty in a research note on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $633.12.

Ulta Beauty Stock Performance

Shares of ULTA traded down $22.60 during mid-day trading on Monday, reaching $623.74. The company had a trading volume of 91,474 shares, compared to its average volume of 513,068. The company has a market capitalization of $27.67 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 3.01 and a beta of 0.82. The firm has a 50-day moving average price of $664.38 and a 200 day moving average price of $584.35. Ulta Beauty has a 52 week low of $309.01 and a 52 week high of $714.97.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, December 4th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.53. Ulta Beauty had a return on equity of 46.33% and a net margin of 9.93%.The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the previous year, the business earned $5.14 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, research analysts forecast that Ulta Beauty will post 23.96 earnings per share for the current fiscal year.

Institutional Trading of Ulta Beauty

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Focus Partners Wealth lifted its stake in shares of Ulta Beauty by 231.6% during the 1st quarter. Focus Partners Wealth now owns 3,744 shares of the specialty retailer’s stock valued at $1,372,000 after buying an additional 2,615 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Ulta Beauty by 48.9% in the first quarter. Intech Investment Management LLC now owns 4,795 shares of the specialty retailer’s stock valued at $1,758,000 after acquiring an additional 1,574 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Ulta Beauty in the second quarter worth about $466,000. Assetmark Inc. grew its position in shares of Ulta Beauty by 295.6% during the second quarter. Assetmark Inc. now owns 178 shares of the specialty retailer’s stock worth $83,000 after purchasing an additional 133 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Ulta Beauty during the 2nd quarter valued at approximately $357,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Company Profile

Ulta Beauty, Inc (NASDAQ: ULTA) is a U.S.-based specialty retailer and beauty services provider focused on cosmetics, fragrance, skin care, hair care, bath and body, and beauty tools. The company operates a dual-format business that combines brick-and-mortar retail stores with an e-commerce platform, offering a broad assortment of national, prestige and mass-market brands alongside its own private-label products. In many locations Ulta also provides full-service salon treatments, positioning the company as a one-stop destination for product discovery and in-store services.

The retailer’s product mix spans color cosmetics, haircare and styling products, skin and body care, fragrance, and accessories, catering to a wide range of consumer preferences and price points.