DA Davidson Raises Ulta Beauty (NASDAQ:ULTA) Price Target to $585.00

Ulta Beauty (NASDAQ:ULTA) had its price target upped by stock analysts at DA Davidson from $550.00 to $585.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. DA Davidson’s price objective indicates a potential upside of 15.22% from the company’s current price.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price objective on Ulta Beauty from $477.00 to $525.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Loop Capital reiterated a “hold” rating and issued a $510.00 target price on shares of Ulta Beauty in a report on Friday, July 25th. Telsey Advisory Group restated an “outperform” rating and set a $520.00 price target on shares of Ulta Beauty in a report on Friday, July 11th. Morgan Stanley lifted their price objective on shares of Ulta Beauty from $460.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Finally, Citigroup boosted their target price on shares of Ulta Beauty from $425.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $469.09.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $507.73 on Thursday. The firm has a market cap of $22.82 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 3.12 and a beta of 1.08. Ulta Beauty has a 52-week low of $309.01 and a 52-week high of $523.68. The firm has a 50 day moving average price of $475.19 and a two-hundred day moving average price of $411.48.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. Ulta Beauty’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $6.47 earnings per share. As a group, equities research analysts predict that Ulta Beauty will post 23.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ULTA. ORG Partners LLC lifted its stake in Ulta Beauty by 17.7% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the specialty retailer’s stock valued at $72,000 after acquiring an additional 23 shares in the last quarter. Chesley Taft & Associates LLC raised its holdings in shares of Ulta Beauty by 3.0% in the second quarter. Chesley Taft & Associates LLC now owns 834 shares of the specialty retailer’s stock valued at $390,000 after purchasing an additional 24 shares during the last quarter. OFI Invest Asset Management lifted its position in shares of Ulta Beauty by 6.8% during the second quarter. OFI Invest Asset Management now owns 375 shares of the specialty retailer’s stock valued at $175,000 after purchasing an additional 24 shares in the last quarter. Wambolt & Associates LLC lifted its position in shares of Ulta Beauty by 1.6% during the first quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer’s stock valued at $626,000 after purchasing an additional 26 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in Ulta Beauty by 32.5% during the first quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

About Ulta Beauty

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.