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Ulta Beauty (NASDAQ:ULTA) gets a new price target of $425.00 from Bank of America


Ulta Beauty (NASDAQ:ULTA – Free Report) Bank of America’s price target was lowered from $575.00 to $425.00 in a report published on Tuesday, Benzinga reports. The company currently has a neutral rating on the specialty retailer’s stock.

Several other brokers have also recently weighed in on ULTA. Robert W. Baird raised his price target on Ulta Beauty from $575.00 to $625.00 and gave the company an outperform rating in a research note on Friday, March 15. DA Davidson reiterated a “buy” rating and issued a $595.00 price target on shares of Ulta Beauty in a research report on Friday, March 15. Wells Fargo & Company lowered their price objective on Ulta Beauty from $450.00 to $350.00 and set an underweight rating for the company in a research report on Wednesday, April 24. Telsey Advisory Group lowered their price objective on Ulta Beauty from $600.00 to $500.00 and set an outperform rating for the company in a research report on Friday, May 24. Finally, BMO Capital Markets raised their price objective on Ulta Beauty from $485.00 to $540.00 and gave the stock a market perform rating in a research report on Friday, March 15. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ulta Beauty currently has a consensus rating of Moderate Buy and a consensus price target of $522.91.

Check out our latest stock report on Ulta Beauty

Ulta Beauty Stock Performance

ULTA opened at $381.13 on Tuesday. The stock has a 50-day moving average of $432.50 and a 200-day moving average of $471.32. Ulta Beauty has a 52-week low of $368.02 and a 52-week high of $574.76. The company has a market cap of $18.27 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.59, and a beta of 1.36.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last reported its earnings results on Thursday, March 14. The specialty retailer reported $8.08 earnings per share for the quarter, beating the consensus estimate of $7.49 by $0.59. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter of the previous year, the company earned earnings per share of $6.68. The company’s quarterly revenue increased 10.2% compared to the same quarter last year. On average, research analysts predict that Ulta Beauty will post earnings per share of 26.35 this year.

Ulta Beauty stated that on Thursday, March 14, its Board of Directors initiated a stock repurchase plan that will allow the company to repurchase $2.00 billion worth of stock. This repurchase authorization allows the specialty retailer to purchase up to 7.3% of its shares through open market purchases. Share repurchase plans are generally an indication that the company’s board believes the stock is undervalued.

Insider buying and selling at Ulta Beauty

In other news, COO Kecia Steelman sold 20,950 shares of Ulta Beauty stock in a transaction on Tuesday, March 19. The stock sold at an average price of $526.39, for a total value of $11,027,870.50. Following the completion of the sale, the Chief Operating Officer now directly owns 10,494 shares of the company’s stock, valued at approximately $5,523,936.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. In other news, COO Kecia Steelman sold 20,950 shares of Ulta Beauty stock in a transaction on Tuesday, March 19. The stock sold at an average price of $526.39, for a total value of $11,027,870.50. Following the completion of the sale, the Chief Operating Officer now directly owns 10,494 shares of the company’s stock, valued at approximately $5,523,936.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. Also, director Catherine Ann Halligan sold 500 shares of Ulta Beauty stock in a transaction on Tuesday, March 19. The shares sold at an average price of $526.26, for a total value of $263,130.00. Following the completion of the sale, the director now directly owns 1,665 shares of the company’s stock, valued at $876,222.90. The explanation of this sale can be found here. Last quarter, insiders sold 24,552 shares of the company’s stock worth $12,920,326. Currently, 0.39% of the shares are owned by insiders.

Institutional investors are weighing in on Ulta Beauty

Institutional investors have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ulta Beauty during the fourth quarter valued at $25,000. Vima LLC acquired a new stake in shares of Ulta Beauty during the fourth quarter valued at $27,000. Riverview Trust Co acquired a new stake in Ulta Beauty stock worth $30,000 during the first quarter. BKM Wealth Management LLC acquired a new stake in shares of Ulta Beauty during the fourth quarter valued at $28,000. Finally, Sound Income Strategies LLC grew its holdings in Ulta Beauty by 490.0% in the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer valued at $31,000 after acquiring an additional 49 shares during the period. 90.39% of the shares are held by institutional investors and hedge funds.

Ulta Beauty Company Profile

(Get a free report)

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, hair care, skin care, bath and body products, professional hair products and salon styling tools through Ulta Beauty stores, shop-in-shops, the Ulta.com website and are mobile applications.

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Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)



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