Ulta Beauty (NASDAQ:ULTA) Price Target Raised to $550.00 at Jefferies Financial Group

Ulta Beauty (NASDAQ:ULTA) had its target price lifted by Jefferies Financial Group from $425.00 to $550.00 in a research note released on Tuesday morning, MarketBeat.com reports. They currently have a hold rating on the specialty retailer’s stock.

A number of other research firms also recently issued reports on ULTA. JPMorgan Chase & Co. boosted their target price on shares of Ulta Beauty from $525.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Citigroup boosted their target price on shares of Ulta Beauty from $450.00 to $550.00 and gave the company a “neutral” rating in a research report on Monday, August 18th. Loop Capital reiterated a “hold” rating and set a $510.00 target price on shares of Ulta Beauty in a research report on Friday, July 25th. Canaccord Genuity Group boosted their target price on shares of Ulta Beauty from $542.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Piper Sandler reiterated 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. Thirteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ulta Beauty currently has a consensus rating of “Hold” and a consensus target price of $498.88.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA opened at $526.06 on Tuesday. The company has a market capitalization of $23.64 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 3.15 and a beta of 1.12. Ulta Beauty has a 52-week low of $309.01 and a 52-week high of $534.10. The company’s 50 day moving average price is $496.27 and its 200-day moving average price is $424.13.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly 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 firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.47 EPS. Ulta Beauty has set its FY 2025 guidance at 22.650-23.200 EPS. Analysts forecast that Ulta Beauty will post 23.96 earnings per share for the current year.

Institutional Trading of Ulta Beauty

Institutional investors and hedge funds have recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC raised its holdings in shares of 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 valued at $25,000 after purchasing an additional 28 shares during the last quarter. Hemington Wealth Management grew its position in Ulta Beauty by 142.9% during the second 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 period. Elevation Point Wealth Partners LLC bought a new position in Ulta Beauty during the second quarter valued at about $35,000. Newbridge Financial Services Group Inc. grew its position in Ulta Beauty by 52.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 76 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 26 shares during the period. Finally, American National Bank & Trust bought a new position in Ulta Beauty during the first quarter valued at about $29,000. Hedge funds and other 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.