BMO Capital Markets Increases Ulta Beauty (NASDAQ:ULTA) Price Target to $510.00

Posted by Defense World Staff on Mar 12th, 2023

Ulta Beauty (NASDAQ:ULTA – Get Rating) had its price target increased by analysts at BMO Capital Markets from $390.00 to $510.00 in a note issued to investors on Friday, The Fly reports. BMO Capital Markets’ target price suggests a potential downside of 2.15% from the company’s current price.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group cut shares of Ulta Beauty from a “buy” rating to a “neutral” rating and reduced their target price for the company from $511.00 to $508.00 in a research note on Monday, December 12th. Barclays upped their price objective on shares of Ulta Beauty from $548.00 to $636.00 in a report on Friday. JPMorgan Chase & Co. raised their target price on Ulta Beauty to $535.00 in a report on Monday, November 28th. Wells Fargo & Company downgraded Ulta Beauty from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $450.00 to $400.00 in a research note on Friday, January 6th. Finally, Oppenheimer increased their price objective on Ulta Beauty from $535.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $554.00.

Ulta Beauty Trading Up 0.2 %

NASDAQ ULTA opened at $521.18 on Friday. Ulta Beauty has a 1-year low of $330.80 and a 1-year high of $537.52. The firm’s fifty day simple moving average is $510.17 and its 200-day simple moving average is $456.58. The company has a market capitalization of $26.52 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last issued its earnings results on Thursday, March 9th. The specialty retailer reported $6.68 earnings per share for the quarter, topping the consensus estimate of $5.53 by $1.15. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.99 billion. Ulta Beauty had a return on equity of 68.55% and a net margin of 12.17%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.41 EPS. As a group, analysts predict that Ulta Beauty will post 25.23 EPS for the current year.

Institutional Investors Weigh In On Ulta Beauty

Several hedge funds have recently made changes to their positions in the stock. Grey Fox Wealth Advisors LLC acquired a new position in Ulta Beauty in the 4th quarter valued at approximately $26,000. CI Investments Inc. increased its position in shares of Ulta Beauty by 1,016.7% during the third quarter. CI Investments Inc. now owns 67 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 61 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Ulta Beauty by 59.1% in the first quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 26 shares in the last quarter. Global Trust Asset Management LLC bought a new position in Ulta Beauty in the third quarter worth $30,000. Finally, AllSquare Wealth Management LLC lifted its position in Ulta Beauty by 188.5% in the third quarter. AllSquare Wealth Management LLC now owns 75 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 49 shares during the period. Institutional investors own 90.47% of the company’s stock.

Ulta Beauty Company Profile

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Ulta Beauty, Inc engages in the retail of beauty products. The company has one reportable segment, which includes retail stores, salon services, and e-commerce. Its products include makeup, skin care, tools and brushes, fragrance, and bath and body. Ulta was founded on January 9, 1990, and is headquartered in Bolingbrook, IL.