Ulta Beauty (NASDAQ:ULTA) Given New $600.00 Price Target at Raymond James

Ulta Beauty (NASDAQ:ULTA – Get Rating) had its target price reduced by equities research analysts at Raymond James from $615.00 to $600.00 in a note issued to investors on Friday, The Fly reports. Raymond James’ price objective would suggest a potential upside of 23.68% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Canaccord Genuity Group began coverage on shares of Ulta Beauty in a research report on Tuesday, March 28th. They issued a “buy” rating and a $622.00 target price for the company. Cowen boosted their price target on shares of Ulta Beauty from $503.00 to $570.00 and gave the stock an “outperform” rating in a research note on Thursday, February 16th. BMO Capital Markets lowered their price target on shares of Ulta Beauty from $510.00 to $485.00 in a research note on Friday. Wells Fargo & Company lowered their price objective on shares of Ulta Beauty from $400.00 to $350.00 in a research note on Friday. Finally, Credit Suisse Group upped their price objective on shares of Ulta Beauty from $535.00 to $580.00 and gave the company an “outperform” rating in a research note on Friday, March 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $545.76.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $485.12 on Friday. The firm has a 50-day moving average price of $522.33 and a two-hundred day moving average price of $498.37. Ulta Beauty has a 52 week low of $360.58 and a 52 week high of $556.60. The firm has a market cap of $24.30 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.55 and a beta of 1.31.

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

Insider Activity

In related news, Director Mike C. Smith sold 400 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $521.63, for a total transaction of $208,652.00. Following the transaction, the director now owns 1,531 shares in the company, valued at $798,615.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Lorna Nagler sold 1,200 shares of the firm’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $541.12, for a total transaction of $649,344.00. Following the sale, the director now directly owns 6,632 shares in the company, valued at approximately $3,588,707.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mike C. Smith sold 400 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $521.63, for a total transaction of $208,652.00. Following the sale, the director now owns 1,531 shares in the company, valued at $798,615.53. The disclosure for this sale can be found here. Insiders have sold a total of 7,355 shares of company stock worth $3,821,507 over the last 90 days. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Ulta Beauty

Institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC grew its stake in Ulta Beauty by 18.2% during the first quarter. ProShare Advisors LLC now owns 7,839 shares of the specialty retailer’s stock valued at $4,278,000 after acquiring an additional 1,209 shares in the last quarter. Toroso Investments LLC grew its stake in shares of Ulta Beauty by 256.0% in the 1st quarter. Toroso Investments LLC now owns 5,518 shares of the specialty retailer’s stock worth $3,011,000 after buying an additional 3,968 shares in the last quarter. 3Chopt Investment Partners LLC purchased a new position in shares of Ulta Beauty in the 1st quarter worth $565,000. Raleigh Capital Management Inc. grew its stake in shares of Ulta Beauty by 10.8% in the 1st quarter. Raleigh Capital Management Inc. now owns 419 shares of the specialty retailer’s stock worth $229,000 after buying an additional 41 shares in the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in shares of Ulta Beauty in the 1st quarter worth $518,000. 90.47% of the stock is currently owned by institutional investors.

About Ulta Beauty

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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.