Oppenheimer Trims Ulta Beauty (NASDAQ:ULTA) Target Price to $540.00

Ulta Beauty (NASDAQ:ULTA – Get Rating) had its price target reduced by Oppenheimer from $575.00 to $540.00 in a report released on Friday, The Fly reports. Oppenheimer’s target price points to a potential upside of 11.31% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company reduced their price target on Ulta Beauty from $400.00 to $350.00 in a report on Friday. Cowen lifted their price target on Ulta Beauty from $503.00 to $570.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. Robert W. Baird cut their price objective on Ulta Beauty from $580.00 to $560.00 in a research note on Friday. Stifel Nicolaus cut their price objective on Ulta Beauty from $525.00 to $475.00 in a research note on Friday. Finally, Argus raised their price objective on Ulta Beauty from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Friday, March 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Ulta Beauty currently has an average rating of “Moderate Buy” and an average target price of $545.76.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $485.12 on Friday. The firm has a market cap of $24.30 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 1.55 and a beta of 1.31. Ulta Beauty has a 52-week low of $360.58 and a 52-week high of $556.60. The stock has a 50-day simple moving average of $522.33 and a 200-day simple moving average of $498.37.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last announced its quarterly earnings results on Thursday, May 25th. The specialty retailer reported $6.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.82 by $0.06. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.62 billion. Ulta Beauty had a return on equity of 67.19% and a net margin of 12.17%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $6.30 EPS. As a group, equities research analysts predict that Ulta Beauty will post 25.27 earnings per share for the current year.

Insider Activity at Ulta Beauty

In related news, insider Anita Jane Ryan sold 1,255 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $544.69, for a total value of $683,585.95. Following the sale, the insider now owns 2,491 shares of the company’s stock, valued at approximately $1,356,822.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Ulta Beauty news, insider Anita Jane Ryan sold 1,255 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $544.69, for a total value of $683,585.95. Following the transaction, the insider now owns 2,491 shares of the company’s stock, valued at $1,356,822.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jodi J. Caro sold 4,500 shares of the business’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $506.65, for a total value of $2,279,925.00. Following the completion of the transaction, the insider now directly owns 5,231 shares in the company, valued at approximately $2,650,286.15. The disclosure for this sale can be found here. Insiders have sold a total of 7,355 shares of company stock valued at $3,821,507 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ulta Beauty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its holdings in Ulta Beauty by 18.2% in the first quarter. ProShare Advisors LLC now owns 7,839 shares of the specialty retailer’s stock valued at $4,278,000 after purchasing an additional 1,209 shares during the last quarter. Toroso Investments LLC increased its holdings in Ulta Beauty by 256.0% in the first quarter. Toroso Investments LLC now owns 5,518 shares of the specialty retailer’s stock valued at $3,011,000 after purchasing an additional 3,968 shares during the last quarter. 3Chopt Investment Partners LLC bought a new stake in Ulta Beauty in the first quarter valued at about $565,000. Raleigh Capital Management Inc. increased its holdings in Ulta Beauty by 10.8% in the first quarter. Raleigh Capital Management Inc. now owns 419 shares of the specialty retailer’s stock valued at $229,000 after purchasing an additional 41 shares during the last quarter. Finally, Arete Wealth Advisors LLC bought a new stake in Ulta Beauty in the first quarter valued at about $518,000. Institutional investors own 90.47% of the company’s stock.

Ulta Beauty Company Profile

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Ulta Beauty, Inc engages in the retail of beauty products. The company has one reportable segment, which includes retail stores, salon services, and e-commerce. Its products include makeup, skin care, tools and brushes, fragrance, and bath and body. Ulta was founded on January 9, 1990, and is headquartered in Bolingbrook, IL.