Ulta Beauty (NASDAQ:ULTA) Receives Outperform Rating from Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Ulta Beauty (NASDAQ:ULTA) in a research note published on Monday morning,Benzinga reports. They currently have a $610.00 price objective on the specialty retailer’s stock.

A number of other brokerages have also weighed in on ULTA. Barclays increased their price objective on Ulta Beauty from $589.00 to $617.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Wall Street Zen lowered Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Evercore ISI increased their price target on shares of Ulta Beauty from $595.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Jefferies Financial Group lifted their price objective on shares of Ulta Beauty from $425.00 to $550.00 and gave the company a “hold” rating in a research note on Tuesday, August 26th. Finally, Oppenheimer upped their price objective on shares of Ulta Beauty from $510.00 to $600.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $549.83.

Ulta Beauty Price Performance

NASDAQ ULTA opened at $547.64 on Monday. The company has a market cap of $24.56 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 3.57 and a beta of 0.87. The stock’s fifty day moving average price is $530.92 and its 200 day moving average price is $503.19. Ulta Beauty has a 1 year low of $309.01 and a 1 year high of $572.23.

Insider Transactions at Ulta Beauty

In related news, Director Mike C. Smith sold 500 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the sale, the director owned 2,263 shares in the company, valued at approximately $1,195,837.09. This trade represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Ulta Beauty

A number of institutional investors have recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC raised its holdings 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 worth $25,000 after purchasing an additional 28 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Ulta Beauty in the third quarter valued at approximately $25,000. Hemington Wealth Management raised its stake in shares of Ulta Beauty by 142.9% during the 2nd quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock worth $31,000 after buying an additional 40 shares during the period. Grey Fox Wealth Advisors LLC acquired a new position in shares of Ulta Beauty during the 3rd quarter worth approximately $31,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Ulta Beauty during the 3rd quarter valued at approximately $31,000. 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.