Oppenheimer Reaffirms Outperform Rating for Ulta Beauty (NASDAQ:ULTA)

Ulta Beauty (NASDAQ:ULTA)‘s stock had its “outperform” rating restated by equities researchers at Oppenheimer in a research note issued on Tuesday, Marketbeat.com reports. They currently have a $465.00 target price on the specialty retailer’s stock, up from their prior target price of $435.00. Oppenheimer’s target price would suggest a potential upside of 13.31% from the stock’s current price.

Other analysts have also issued research reports about the stock. Piper Sandler reissued a “neutral” rating on shares of Ulta Beauty in a research report on Thursday, May 15th. Truist Financial boosted their price objective on shares of Ulta Beauty from $364.00 to $386.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Bank of America reduced their price objective on shares of Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. DA Davidson reaffirmed a “buy” rating and set a $415.00 price objective on shares of Ulta Beauty in a research note on Wednesday, April 16th. Finally, B. Riley reduced their price objective on shares of Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Ulta Beauty currently has an average rating of “Hold” and an average price target of $423.33.

Ulta Beauty Trading Up 1.4%

Ulta Beauty stock opened at $410.39 on Tuesday. Ulta Beauty has a 1-year low of $309.01 and a 1-year high of $460.00. The firm’s fifty day moving average price is $376.14 and its two-hundred day moving average price is $386.37. The firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the company posted $8.08 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, research analysts forecast that Ulta Beauty will post 23.96 EPS for the current year.

Insider Transactions at Ulta Beauty

In other news, insider Jodi J. Caro sold 902 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total value of $332,982.32. Following the transaction, the insider now owns 7,632 shares in the company, valued at $2,817,429.12. This represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Ulta Beauty

Several institutional investors have recently made changes to their positions in ULTA. Merit Financial Group LLC bought a new position in shares of Ulta Beauty in the 4th quarter worth approximately $405,000. Trust Co. of Vermont raised its stake in Ulta Beauty by 60.0% during the 4th quarter. Trust Co. of Vermont now owns 144 shares of the specialty retailer’s stock worth $63,000 after acquiring an additional 54 shares during the period. LaFleur & Godfrey LLC raised its stake in Ulta Beauty by 32.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 2,455 shares of the specialty retailer’s stock worth $1,068,000 after acquiring an additional 596 shares during the period. Harbor Investment Advisory LLC raised its stake in Ulta Beauty by 8.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 787 shares of the specialty retailer’s stock worth $342,000 after acquiring an additional 62 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in Ulta Beauty by 53.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 2,196 shares of the specialty retailer’s stock worth $955,000 after acquiring an additional 764 shares during the period. Institutional investors 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.