Ulta Beauty (ULTA) PT Raised to $350.00

Ulta Beauty (NASDAQ:ULTA) had its price target upped by Wells Fargo & Co from $280.00 to $350.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the specialty retailer’s stock. Wells Fargo & Co‘s target price points to a potential upside of 12.00% from the stock’s previous close.

ULTA has been the topic of several other research reports. Loop Capital lifted their price target on Ulta Beauty from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, March 4th. Morgan Stanley set a $330.00 price target on Ulta Beauty and gave the stock a “buy” rating in a research report on Sunday, December 9th. BidaskClub raised Ulta Beauty from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 14th. ValuEngine lowered Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Friday, December 7th. Finally, Nomura reiterated a “neutral” rating and issued a $311.00 target price (up from $305.00) on shares of Ulta Beauty in a research note on Tuesday, February 19th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $303.30.

ULTA opened at $312.51 on Friday. The company has a market cap of $18.47 billion, a price-to-earnings ratio of 38.30, a PEG ratio of 1.33 and a beta of 1.01. Ulta Beauty has a 52 week low of $199.15 and a 52 week high of $322.49.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $3.61 EPS for the quarter, topping the consensus estimate of $3.56 by $0.05. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.11 billion. Ulta Beauty had a return on equity of 33.75% and a net margin of 9.99%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.75 earnings per share. Equities analysts expect that Ulta Beauty will post 10.82 EPS for the current year.

Several institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its position in Ulta Beauty by 4.3% during the third quarter. Alliancebernstein L.P. now owns 2,686,897 shares of the specialty retailer’s stock worth $758,027,000 after purchasing an additional 109,978 shares in the last quarter. FMR LLC raised its holdings in shares of Ulta Beauty by 52.6% in the fourth quarter. FMR LLC now owns 1,961,393 shares of the specialty retailer’s stock worth $480,228,000 after acquiring an additional 675,832 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Ulta Beauty by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 847,947 shares of the specialty retailer’s stock worth $239,223,000 after acquiring an additional 20,257 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Ulta Beauty by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 838,542 shares of the specialty retailer’s stock worth $204,993,000 after acquiring an additional 62,309 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Ulta Beauty by 189.8% in the fourth quarter. Two Sigma Advisers LP now owns 784,145 shares of the specialty retailer’s stock worth $191,990,000 after acquiring an additional 513,582 shares during the last quarter. Hedge funds and other institutional investors own 89.72% of the company’s stock.

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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