Ulta Beauty (ULTA) Given New $328.00 Price Target at Wells Fargo & Co

Ulta Beauty (NASDAQ:ULTA) had its target price cut by Wells Fargo & Co from $336.00 to $328.00 in a research report sent to investors on Friday. They currently have an outperform rating on the specialty retailer’s stock.

ULTA has been the subject of several other research reports. OTR Global upgraded shares of Ulta Beauty to a positive rating in a research note on Thursday, November 29th. Jefferies Financial Group set a $335.00 price target on shares of Ulta Beauty and gave the company a buy rating in a report on Friday, November 9th. UBS Group reduced their price target on shares of Ulta Beauty from $290.00 to $285.00 and set a buy rating for the company in a report on Friday, August 31st. Deutsche Bank set a $300.00 price target on shares of Ulta Beauty and gave the company a hold rating in a report on Friday, November 9th. Finally, Zacks Investment Research reissued a buy rating and set a $316.00 price target on shares of Ulta Beauty in a report on Saturday, November 17th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Ulta Beauty currently has a consensus rating of Buy and an average price target of $286.96.

ULTA stock traded down $38.45 during trading on Friday, hitting $254.47. 4,225,348 shares of the company’s stock traded hands, compared to its average volume of 1,026,716. Ulta Beauty has a 52 week low of $191.70 and a 52 week high of $322.49. The firm has a market cap of $17.51 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 1.47 and a beta of 0.63.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, December 6th. The specialty retailer reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.02. Ulta Beauty had a net margin of 9.99% and a return on equity of 33.96%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm earned $1.69 earnings per share. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. As a group, equities research analysts predict that Ulta Beauty will post 10.84 earnings per share for the current fiscal year.

In related news, Director Dennis K. Eck sold 35,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $287.15, for a total value of $10,050,250.00. Following the completion of the sale, the director now owns 361,294 shares of the company’s stock, valued at $103,745,572.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis K. Eck sold 31,278 shares of the company’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $285.88, for a total transaction of $8,941,754.64. Following the completion of the sale, the director now directly owns 334,778 shares of the company’s stock, valued at approximately $95,706,334.64. The disclosure for this sale can be found here. Insiders sold 66,407 shares of company stock valued at $19,028,318 in the last ninety days. Corporate insiders own 5.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Waddell & Reed Financial Inc. bought a new stake in Ulta Beauty in the second quarter worth about $125,933,000. FMR LLC raised its position in Ulta Beauty by 35.5% in the third quarter. FMR LLC now owns 1,285,561 shares of the specialty retailer’s stock worth $362,682,000 after acquiring an additional 336,985 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in Ulta Beauty in the third quarter worth about $79,932,000. Davidson Kempner Capital Management LP bought a new stake in Ulta Beauty in the second quarter worth about $40,856,000. Finally, Marshall Wace LLP bought a new stake in Ulta Beauty in the third quarter worth about $44,356,000. 89.10% of the stock is owned by institutional investors and hedge funds.

About Ulta Beauty

Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, haircare and skincare products, bath and body products, and salon styling tools; salon services, including hair, skin, and brow services; and others, including nail products and accessories.

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Analyst Recommendations for Ulta Beauty (NASDAQ:ULTA)

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