Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $590.00 at Telsey Advisory Group

Ulta Beauty (NASDAQ:ULTA) had its target price upped by Telsey Advisory Group from $520.00 to $590.00 in a research report report published on Monday, MarketBeat.com reports. They currently have an outperform rating on the specialty retailer’s stock.

A number of other brokerages have also weighed in on ULTA. Raymond James Financial reaffirmed an “outperform” rating on shares of Ulta Beauty in a research note on Thursday, August 14th. Morgan Stanley upped their price target on shares of Ulta Beauty from $460.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Robert W. Baird boosted their target price on shares of Ulta Beauty from $440.00 to $525.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. Oppenheimer boosted their target price on shares of Ulta Beauty from $510.00 to $600.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Finally, 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. Thirteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $495.35.

Ulta Beauty Stock Down 1.0%

Ulta Beauty stock opened at $524.37 on Monday. The firm has a 50-day moving average price of $495.18 and a two-hundred day moving average price of $423.41. The firm has a market capitalization of $23.57 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 3.19 and a beta of 1.12. Ulta Beauty has a 52-week low of $309.01 and a 52-week high of $534.10.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The business’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 business posted $6.47 EPS. Ulta Beauty has set its FY 2025 guidance at 22.650-23.200 EPS. Research analysts expect that Ulta Beauty will post 23.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Cary Street Partners Investment Advisory LLC grew its position in Ulta Beauty by 107.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 54 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 28 shares in the last quarter. American National Bank & Trust bought a new stake in Ulta Beauty in the first quarter worth approximately $29,000. Wayfinding Financial LLC bought a new stake in Ulta Beauty in the first quarter worth approximately $31,000. Hemington Wealth Management grew its position in Ulta Beauty by 142.9% in the second quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 40 shares in the last quarter. Finally, Rakuten Securities Inc. grew its position in Ulta Beauty by 218.5% in the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 59 shares in the last quarter. Institutional investors and hedge funds 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.