Wells Fargo & Company Boosts Ulta Beauty (NASDAQ:ULTA) Price Target to $400.00

Ulta Beauty (NASDAQ:ULTA) had its price target raised by equities researchers at Wells Fargo & Company from $350.00 to $400.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 23.22% from the company’s previous close.

ULTA has been the topic of a number of other reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $520.00 price objective on shares of Ulta Beauty in a research note on Friday, July 11th. Citigroup raised their price objective on shares of Ulta Beauty from $425.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. Evercore ISI raised their price objective on shares of Ulta Beauty from $465.00 to $490.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of Ulta Beauty in a research note on Thursday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $437.00 price objective (up from $386.00) on shares of Ulta Beauty in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Ulta Beauty has an average rating of “Hold” and an average price target of $475.17.

Ulta Beauty Trading Down 1.0%

NASDAQ ULTA opened at $521.00 on Friday. The firm has a market cap of $23.42 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 3.14 and a beta of 1.12. The company has a 50 day moving average of $488.32 and a 200-day moving average of $418.47. Ulta Beauty has a 1-year low of $309.01 and a 1-year high of $534.10.

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. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the business posted $6.47 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that Ulta Beauty will post 23.96 earnings per share for the current year.

Institutional Investors Weigh In On Ulta Beauty

A number of hedge funds and other institutional investors have recently made changes to their positions in ULTA. Cary Street Partners Investment Advisory LLC increased its stake in Ulta Beauty by 107.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 54 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 28 shares during the last quarter. American National Bank & Trust acquired a new stake in Ulta Beauty in the 1st quarter valued at $29,000. Wayfinding Financial LLC acquired a new stake in Ulta Beauty in the 1st quarter valued at $31,000. Hemington Wealth Management increased its stake in Ulta Beauty by 142.9% in the 2nd quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 40 shares during the last quarter. Finally, Rakuten Securities Inc. increased its stake in Ulta Beauty by 218.5% in the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 59 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.