Ulta Beauty (NASDAQ:ULTA) Given Outperform Rating at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Ulta Beauty (NASDAQ:ULTA) in a research report released on Thursday,Benzinga reports. The brokerage currently has a $520.00 price objective on the specialty retailer’s stock.

ULTA has been the topic of several other research reports. Oppenheimer boosted their price objective on shares of Ulta Beauty from $465.00 to $510.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. B. Riley reduced their price target on Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Wells Fargo & Company increased their price target on Ulta Beauty from $315.00 to $350.00 and gave the company an “underweight” rating in a research note on Friday, May 30th. JPMorgan Chase & Co. lifted their price objective on Ulta Beauty from $477.00 to $525.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Finally, Piper Sandler reissued a “neutral” rating and set a $437.00 target price (up previously from $386.00) on shares of Ulta Beauty in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $462.22.

Ulta Beauty Stock Performance

Shares of NASDAQ:ULTA opened at $457.66 on Thursday. Ulta Beauty has a 52-week low of $309.01 and a 52-week high of $491.98. The company has a market capitalization of $20.57 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.71 and a beta of 1.09. The company has a fifty day moving average of $425.67 and a 200-day moving average of $399.98.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.47 EPS. On average, equities analysts forecast that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ulta Beauty news, insider Jodi J. Caro sold 902 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the completion of the sale, the insider now owns 7,632 shares in the company, valued at approximately $2,817,429.12. The trade was a 10.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Ulta Beauty

Several hedge funds and other institutional investors have recently made changes to their positions in ULTA. Smartleaf Asset Management LLC lifted its position in Ulta Beauty by 28.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 166 shares of the specialty retailer’s stock valued at $72,000 after acquiring an additional 37 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of Ulta Beauty by 14.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer’s stock worth $435,000 after purchasing an additional 152 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Ulta Beauty by 128.9% in the first quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer’s stock valued at $275,000 after purchasing an additional 415 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Ulta Beauty by 26.4% in the fourth quarter. Alliancebernstein L.P. now owns 73,137 shares of the specialty retailer’s stock valued at $31,809,000 after purchasing an additional 15,258 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Ulta Beauty by 1.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 10,857 shares of the specialty retailer’s stock valued at $4,722,000 after buying an additional 159 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

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.